Remittances fR itt       from S i                 SpainResearch findings and policyimplications"Remittances, the unknown a...
1.-Remittances in the past2.-Remittances now3.-Conclusions3 -Conclusions
History countsEuropean countries developed policies onremittances since 1901, when Italy enactedthe first Law on remittanc...
History countsSpain created some of the first policies onremittances, but for its own development…1922-Co-development1922 ...
History countsUntil 1920 Spain’s remittances were bills ofexchange or checks: average price 0,5%. Thenswitched to financia...
History counts…because Spain, as other EU countries(Sweden?), financed its development withremittances (until 2004)       ...
History counts: S dHi t        t SwedenWhen Sweden was also a poor country…In 1900 Sweden received remittances that were 1...
History countsDifferences between 1900 and nowThe actors1900: women remitted money as members of theirfamilies, now as ind...
Now: Remittances from Spain  60% of Spain’s remittances go to Latinamerica,  8% to MoroccoSpains remittances impact 2007‐2...
Now: Price is a problemN    Pi i          blRemittances price average 6% while in the pastis was 0,5%Spain-Morocco remitta...
Now: Working conditions countN    W ki g     diti        tRemittances mean foreign workers, not justforeigners
Now: Time countsRemittances paradox: as time passes,remittances increase at the aggregate level butfade at the individual ...
Now: Gender countsNow women are the leading remittancessenders (from Spain)Spain:S i remittances b gender of th sender    ...
Now: Policy countsN    P li       tMany countries believe in remittances, but forthe wrong reasonsTheyTh can b t         b...
ConclusionsAn agenda for remittancesRemittances need institutionsIt is impossible to manage efficiently 8% of the GDPwitho...
Remittances from SpainResearch findings and policyimplications“Nothing so denies a person liberty as the totalabsence of m...
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Remittances from Spain

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A presentation held by mr Inigo Moré, Research Centre Remesas at the conference "Det dolda biståndet" on the 17th January 2011.

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Transcript of "Remittances from Spain"

  1. 1. Remittances fR itt from S i SpainResearch findings and policyimplications"Remittances, the unknown aid. Aninternational perspective“Stockholm 20/01/2011 / /Iñigo Moré, Research Centre Remesas.orgwww.remesas.orgadmin@remesas.org
  2. 2. 1.-Remittances in the past2.-Remittances now3.-Conclusions3 -Conclusions
  3. 3. History countsEuropean countries developed policies onremittances since 1901, when Italy enactedthe first Law on remittances.
  4. 4. History countsSpain created some of the first policies onremittances, but for its own development…1922-Co-development1922 Co developmentRoyal Decree December 17th 19221931-AccountingIncluded in the “Balances de pagos internacionales”,Spain’s first balance of payments: remittances were160 million/Pts gold= 16% of current account income1960-International treaties“Convenio de Migración entre España y la República ConvenioArgentina“, first international treaty on remittances (3arts on remittances)
  5. 5. History countsUntil 1920 Spain’s remittances were bills ofexchange or checks: average price 0,5%. Thenswitched to financial intermediaries
  6. 6. History counts…because Spain, as other EU countries(Sweden?), financed its development withremittances (until 2004) Remesas de los trabajadores desde y hacia España (%/PIB)6543 Ingresos2 Pagos10 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 Nota: Los datos anteriores a 1990 se han calculado utilizando tasas de variación anual de de conceptos que no son totalmente homogéneos. Para los pagos no ha sido posible realizar dicho enlace para datos anteriores a 1981, pero su importe para dichos años es prácticamente irrelevante.
  7. 7. History counts: S dHi t t SwedenWhen Sweden was also a poor country…In 1900 Sweden received remittances that were 1% oftheth GDPLindhal, Erik; Einar Dahlgren, and Karin Kock. NationalIncome of Sweden, 1861‐1930. 2 vols. London: P.S.King & Son, Ltd., 1937.Real figures could be higherThe authors offer a net estimation. They multiply bythree the difference between the money orders sent byimmigrants in the United States and those leaving
  8. 8. History countsDifferences between 1900 and nowThe actors1900: women remitted money as members of theirfamilies, now as individualsThe amounts1900: remittances impact was local rather than globalThe problems1900: price was not a problem, now it isThe solutions1900: receiving countries created policies onremittances, now it is sending countries
  9. 9. Now: Remittances from Spain 60% of Spain’s remittances go to Latinamerica, 8% to MoroccoSpains remittances impact 2007‐2008 p p 2007 2008 GDP in Remitt. %R/PIB GDP in Remitt. %R/PIB US$ mill. US$ mill. US$ mill. US$ mill.Bolivia 13.292 1.088 8,2% 17.413 1.061 6,1%Ecuador 45.789 1.759 3,8% 52.572 1.545 2,9%Paraguay 12.222 12 222 370 3,0% 16.006 16 006 450 2,8%Senegal 11.300 243 2,2% 13.350 265 2,0%R. Dominicana 40.988 474 1,2% 45.597 427 0,9%Colombia 207.991 2.118 1,0% 240.654 2.076 0,9%Marruecos 75.116 602 0,8% 86.394 565 0,7%Rumanía 169.286 636 0,4% 199.673 588 0,3%Perú 107.399 107 399 255 0,2% 0 2% 127.598 127 598 300 0,2% 0 2%Pakistán 144.032 139 0,1% 167.640 196 0,1%Filipinas 144.062 127 0,1% 168.580 138 0,1%Brasil 1.333.502 555 0,0% 1.572.839 565 0,0%Spain 1.439.983 8.444 0,59% 1.611.767 7.840 0,49%fuente: PIB: World Economic Outlook Database, April 2009, Remesas: Banco de España
  10. 10. Now: Price is a problemN Pi i blRemittances price average 6% while in the pastis was 0,5%Spain-Morocco remittancesPrice ranking in % of a 150€ remittance
  11. 11. Now: Working conditions countN W ki g diti tRemittances mean foreign workers, not justforeigners
  12. 12. Now: Time countsRemittances paradox: as time passes,remittances increase at the aggregate level butfade at the individual level
  13. 13. Now: Gender countsNow women are the leading remittancessenders (from Spain)Spain:S i remittances b gender of th sender itt by d f the dResults of Remesas.org research for Instituto de la Mujer 2007Gender W. Average Median Mode Number of Estandar Variance % of Total remittance in € in Euros in Euros observations deviation NumberMen          350 €   200 €        100 € 21.388 448 200546,0 38,6%Women          323 €   186 €     100 € 30.919 432 186492,7 , 61,4% ,Spain: remittances as a % of salaryResults of Remesas.org research for Instituto de la Mujer 2007 Gender Anual averageMontly average Average Remittance % salary salary Remittance of salaryMen       15.041 €    1.074 €     350 € 33%Women       11.286 €         806 €        323 € 40%
  14. 14. Now: Policy countsN P li tMany countries believe in remittances, but forthe wrong reasonsTheyTh can b t be taxed dColombia’s tax on remittances: 0,4%; Bolivia’s tax onremittances: 1%; Brazil: 0,38%...They are a tool for foreign policy y g p yUSA limits its flow towards countries like Cuba; Russiathreatens to do the same with countries like GeorgiaThey are dangerous for securityAML/CT regulations worldwide g l ti ld idThey are a good business for friendsExclusivity agreements: Public Postal Operators, Cuba
  15. 15. ConclusionsAn agenda for remittancesRemittances need institutionsIt is impossible to manage efficiently 8% of the GDPwithout institutions, laws, ministries, statistics…becauseremittances are millions, but of personsPrice, gender and time are the main variablesResearch feeds policyMigrants can invest, but are not investorsThey need technical training
  16. 16. Remittances from SpainResearch findings and policyimplications“Nothing so denies a person liberty as the totalabsence of money”Iñigo Moré, Research Centre Remesas.orgwww.remesas.orgwww remesas orgadmin@remesas.org

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