Trésor-Economics No. 64 - How vulnerable are the emerging and developing countries to a drop in migrants' remittances?
Emerging countries' payments balances have come under severe pressure since the onset of the crisis in Autumn 2008, as widespread deleveraging has led to massive capital outflows from these countries. In earlier crises affecting the emerging countries migrants' remittances proved resilient, acting as a stable source of financing. This appears to have been less the case in the present crisis, howev... Lire la suite