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I. REMITTANCES AND DEVELOPMENT ON THE INTERNATIONAL POLICY AGENDA
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II. SHIFTING PARADIGMS ON MIGRATION, REMITTANCES, AND DEVELOPMENT1
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III. THE RESEARCH QUESTION: WHAT IS THE IMPACT OF REMITTANCES ON THE FINANCIAL SECTORS OF THE RECEIVING
COUNTRIES?
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IV. ESSAYS ON MIGRANTS’ REMITTANCES AND THE FINANCIAL SECTOR: KEY FINDINGS AND CONTRIBUTION TO RESEARCH
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WKGINFG! WOJLJMOLY! HFG[OMFH! ]OINOJ! INF! \LGIOMKYLG! OJHIOIKIOQJLY! HFIIOJZ6! %VQ\IOJZ! L!
MQP\LGLIO[F!L\\GQLMN9!]F! YQQR!LI! INF!0QPOJOMLJ!,F\KSYOM9!#Y!$LY[LVQG9!LJV!)FdOMQ6!
ANOYF!INF!MQJIFdI!QW!L!NOZN!YF[FY!QW!GFPOIILJMF!VF\FJVFJMl!MGFLIFH!HOPOYLG!MNLYYFJZFH!OJ!
;6!!*(-,'05/-*'(C!#$$%&$!'(!,#)*--%(/#$!%(0!-1#!2*(%(/*%3!$#/-',!
! :"
LYY! MLHFH9! INF! FPFGZOJZ! WQGPH! QW! ZQ[FGJLJMF! HNQ]! GFPLGRLSYF! [LGOFIl6! 'KG! GFHFLGMN!
WOJVH! INLI! INOH! OH! Fd\YLOJFV! Sl! JFOINFG! LZFJMl! JQG! HIGKMIKGF! LYQJF9! SKI! GLINFG! Sl! INF!
OJIFG\YLl!QW!WQG?\GQWOI9!JQJ?\GQWOI9!LJV!HILIF!LMIQGH!FPSFVVFV!OJ!INF!H\FMOWOM!HIGKMIKGFH!QW!
INF!GFPOIILJMF!PLGRFIH!LJV!POMGQ?WOJLJMF!HFMIQGH!QW!FLMN!MQKJIGl6!ANFGFLH!L!NOZN!YF[FY!
QW! OJHIOIKIOQJLY! VF[FYQ\PFJI! ]OINOJ! POMGQ?WOJLJMF! OJHIOIKIOQJH! f)2*Hg! WLMOYOILIFH! INF!
FHILSYOHNPFJI!QW!HIGLIFZOM!JFI]QGRH!SFI]FFJ!)2*H!LJV!OJHIOIKIOQJH!QJ!INF!HFJVOJZ!HOVF9!
OI! MLJ! SF! VOWWOMKYI! WQG! VF\QHOI?ILROJZ! WOJLJMOLY! OJHIOIKIOQJH! IQ! SGFLR! OJIQ! FdOHIOJZ!
PQJQ\QYOFH! ]NFJ! IGLJHWFG! PLGRFIH! LGF! NFL[OYl! VQPOJLIFV! Sl! )-'H6! 2OJLYYl9!
ZQ[FGJPFJIH!NL[F!SFFJ!MGKMOLY!OJ!HNL\OJZ!WOJLJMOLY!LJV!GFPOIILJMF!PLGRFIH9!JQI!QJYl!Sl!
ILROJZ! QJ! OJVOGFMI! GQYFH! INGQKZN! GFZKYLIOQJ! LJV! GKYF?HFIIOJZ! SKI! LYHQ! Sl! OJIFG[FJOJZ!
VOGFMIYl!OJ!GFPOIILJMF!PLGRFIH6!
V. CONCLUSION
ANOYF!PKMN!QW! INF!ZGQ]OJZ!GFHFLGMN!QJ!POZGLJIH.!GFPOIILJMFH!NLH!WQMKHFV!QJ!\Q[FGIl!
FWWFMIH! LJV! INF! H\FJVOJZ! QW! GFPOIILJMFH9! INOH! VQMIQGLY! INFHOH! MQJIGOSKIFH! IQ! LJ!
KJVFGHILJVOJZ! QW! NQ]! GFPOIILJMFH! OJWYKFJMF! INF! FMQJQPOFH! QW! GFMFO[OJZ! MQKJIGOFH! Sl!
WQMKHOJZ!QJ!L!GFYLIO[FYl!JFZYFMIFV!GFHFLGMN!IQ\OM9!INF!YOJRLZFH!SFI]FFJ!GFPOIILJMFH!LJV!
INF! WOJLJMOLY! HFMIQG6! -NOH! OH! LJ! OP\QGILJI! OHHKF9! LH! OI! VGL]H! LIIFJIOQJ! IQ! HQPF! QW! INF!
OJVOGFMI! FWWFMIH! QW! GFPOIILJMFH9! ]NFGFLH! MQJMFJIGLIOJZ! HQYFYl! QJ! INF! H\FJVOJZ! QW! INOH!
HQKGMF! QW! OJMQPF! POHHFH! LJ! OP\QGILJI! \LGI! QW! INF! \OMIKGF6! -NF! YOJRLZFH! SFI]FFJ!
GFPOIILJMFH! LJV! INF! WOJLJMOLY! HFMIQG! OJMGFLHF! INF! WQGPFG.H! VF[FYQ\PFJI! OP\LMI! Sl!
\GQ[OVOJZ! GFMFO[OJZ! NQKHFNQYVH! ]OIN! LVVOIOQJLY! GOHR?PLJLZFPFJI! LJV! LHHFI?SKOYVOJZ!
IQQYH9! LJV! Sl! MNLJJFYYOJZ! HL[OJZH! WGQP! GFPOIILJMFH! IQ! WKYWOY! VFPLJVH! WQG! MGFVOI!
FYHF]NFGF6!
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! ::
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QJ! INF! OP\LMI!QW! GFPOIILJMFH!QJ! WOJLJMOLY! HFMIQG!VF[FYQ\PFJI!LJV!L\\YOFH!L![LGOFIl!QW!
PFINQVQYQZOMLY! L\\GQLMNFH! GLJZOJZ! WGQP! POMGQ?FMQJQPFIGOM! \LJFY! VLIL! IFMNJOeKFH!
fMLKHLY!OJWFGFJMF!KHOJZ!L!IGFLIPFJI!FWWFMI!PQVFY!OJ!INF!WOGHI!\L\FG!LJV!NQKHFNQYV!WOdFV!
FWWFMIH!OJ!INF!HFMQJV!\L\FGg9!IQ!POdFV!eKLYOILIO[F?eKLJIOILIO[F!PFINQVH!fINOGV!\L\FGg9!IQ!
PKYIO?LMIQG!ZQ[FGJLJMF!LJLYlHOH!LJV!L!MQP\LGLIO[F!MLHF!HIKVl!fWQKGIN!\L\FGg6!-NF!POd!
QW!eKLJIOILIO[F!LJV!eKLYOILIO[F!PFINQVH9!IQZFINFG!]OIN!INF!OJIFGVOHMO\YOJLGl!\FGH\FMIO[FH!
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SFNL[OQKG!QW!IGLJHJLIOQJLY!NQKHFNQYVH!]OINOJ!INFOG!OJHIOIKIOQJLY!MQJIFdIH6!
-NF!PLOJ!PFHHLZF!QW!INOH!INFHOH!OH!INLI!GFPOIILJMFH!MLJ!SF!SQIN!L!HKSHIOIKIF!WQG!MGFVOI!LH!
]FYY! LH! L! oMLILYlHI.! WQG! OP\GQ[FV! LMMFHH! IQ! WOJLJMOLY! HFG[OMFH! OJ! GFMFO[OJZ! MQKJIGOFH6!
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WOJLJMOLY!HFG[OMFH!QJ!INF!QINFG!LGF!SQIN!\LGI!QW!INF!GOHR?PLJLZFPFJI!LJV!LHHFI?SKOYVOJZ!
HIGLIFZOFH! QW! NQKHFNQYVH6! -NFl! \LGIOLYYl! GF\YLMF! LSHFJI! QG! GKVOPFJILGl! OJHIOIKIOQJH! WQG!
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WOJLJMOLY!OJHIOIKIOQJH!\GQ[OVF!NQKHFNQYVH!]OIN!HL[OJZH!Q\IOQJH!QG!LMMF\I!GFPOIILJMFH!LH!
MQYYLIFGLY! WQG! YQLJH6! -NOH! OJIFG\GFILIOQJ! MQJIGLHIH! ]OIN! MGOIOeKFH! QW! INF! Q[FGYl!
oMQJHKP\IO[F.!H\FJVOJZ!QW!GFPOIILJMFH6!*JHIFLV9!INOH!HIKVl.H!QSHFG[LIOQJH!WGQP!INF!MLHF!
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GFPOIILJMF! OJWYQ]H! LGF! YLGZF! GFYLIO[F! IQ! INF! HOTF! QW! INF! WOJLJMOLY! HFMIQG9! HL[OJZH! WGQP!
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-NF! YOJRLZFH! SFI]FFJ! GFPOIILJMFH! LJV! INF! WOJLJMOLY! HFMIQGH! QW! INF! GFMFO[OJZ! MQKJIGOFH!
VF\FJV!QJ! INF! H\FMOWOM! OJHIOIKIOQJLY! HFIIOJZ! OJ! FLMN!MQKJIGl6!/QJHFeKFJIYl9! INF! HFMQJV!
\LGI!QW! INOH! INFHOH!FP\NLHOTFH! INF! OJHIOIKIOQJLY! WGLPF]QGRH!LJV!H\FMOWOM! OJOIOLIO[FH! INLI!
;6!!*(-,'05/-*'(C!#$$%&$!'(!,#)*--%(/#$!%(0!-1#!2*(%(/*%3!$#/-',!
! :E
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ZQ[FGJLJMF!Sl!INF!HILIF!LJV!QINFG!LMIQGH!PLl!\YLl!OJ!MGFLIOJZ!WL[QKGLSYF!MQJVOIOQJH!WQG!
FMQJQPOM!LJV!HQMOLY!VF[FYQ\PFJI6!,FPOIILJMFH!LGF!INF!\GO[LIF!OJMQPF!QW!IGLJHJLIOQJLY!
NQKHFNQYVH6! *JHIOIKIOQJLY! WGLPF]QGRH! INLI! Q\FJ! K\! PQJFILGl! HL[OJZH! LJV! SQGGQ]OJZ!
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PQGF!\GQPOHOJZ!INLJ!L!\LIFGJLYOHIOM!VFSLIF!QJ!INF!oMQGGFMI.!KHF!QW!INFHF!OJMQPFH6!
!!!!!!!!!
!!!!!!!!!!!!!