Washington DC — Workers' remittances--the money migrants send home to their families--command the attention of economists and policymakers because of their potential to improve the lives of millions of people.
Amounting to over $400 billion in 2017, remittances rank between official development assistance and foreign direct investment in terms of size. Such massive financial flows have important consequences for the economies that receive them, especially when many countries receive flows that are large relative to the size of their exports or even their economies.
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