Remittances and Development - More to Say?

williamkramer — Fri, 03 Nov 2006 08:13:46 -0500

Let me share with you my state of mind after finishing a careful reading of the full World Bank report on Latin American remittances, Close to Home: The Development Impact of Remittances in Latin America. On the one hand, it is a closely reasoned, and (as far as this non-economist can determine) a fair-minded analysis of the data. I would expect no less from the Bank, and I applaud the authors.

On the other hand, it leaves me unsatisfied, hungry for more. Why? The conclusions and recommendations are appropriate to the evidence examined, but as the quite extensive and prominent news and analysis coverage of this issue suggests, there is an appetite for more, and one wishes that the authors had not felt so constrained, but rather, had taken a more expansive view of the potential for the study. But, for whatever reason, that was not to be, and one can't really criticize them for "staying within the lines."

That doesn't mean we have to. So, this post is a call to our readers to make the sort of suggestions that the authors of the Bank report did not. Let's design the "manna from heaven" which the Bank does not find today. I for one accept the essential Bank conclusions that countries should continue to encourage the deepening of financial services to recipients, to increase competition among remittance service providers in order to lower costs, and to improve the "doing business" environment. All these are good, but in your view, what are the additional big ideas that are appropriate to the need?

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Remittances and Development - More to Say?