Migrant Remittances in Greece and Portugal: <i>Distribution by Country of Provenance and the Role of the Banking Presence</i>

Karafolas, Simeon

doi:10.1111/1468-2435.00051

Cited by 21 publications

(11 citation statements)

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“…Hence, we could argue that financial gains from migration (in the form of remittances) are extremely low in the case of Greece , thus augmenting the negative impacts of brain drain for the country. This finding is very important, as Greek emigrants' remittances have held a crucial role for the national economy, especially after 1980 (Karafolas, ). Lianos (), for example, argues that migrant remittances from Germany only accounted for more than 1% of gross national product in 1982, and this type of currency flow represented, together with tourism, the main source of currency earnings for the country during the period 1980–2000.…”

Section: Resultsmentioning

confidence: 99%

Highly Skilled Migration: What Differentiates the ‘Brains’ Who Are Drained from Those Who Return in the Case of Greece?

Labrianidis

Vogiatzis

2012

Population Space and Place

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The migration of highly educated population (brain drain) poses extremely significant impacts on origin countries' development, especially in cases in which, owing to their economic and social structures, these countries cannot promote the efficient allocation of their professionals. At the same time, the decision of those migrants to return home or remain abroad is affected by several factors. This paper aims to analyse this phenomenon by using primary data collected from Greece. Our findings indicate that it is not reasonable to expect that a large share of these people is likely to return, especially given the ongoing economic and social crises that further exacerbate the observed mismatch between supply and demand for a highly educated workforce in the country. These empirical results can assist the formulation of specific policy measures in order to reap the benefits of those individuals' presence abroad, which can undoubtedly enhance the developmental prospects of European countries. This study constitutes the first one on brain drain from Greece, while it is also the first study to compare highly skilled migrants who still work abroad to those who have returned.

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Section: Resultsmentioning

confidence: 99%

Highly Skilled Migration: What Differentiates the ‘Brains’ Who Are Drained from Those Who Return in the Case of Greece?

Labrianidis

Vogiatzis

2012

Population Space and Place

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“…As regards the macroeconomic determinants of worker remittances, the black market foreign exchange premium and the presence of domestic banks in the host country have been identified to strongly affect the size of officially registered remittances (El‐Sakka and McNabb, 1999; Karafolas, 1998; Russell, 1992). Remittances are also responsive to changes in the interest rate differential between the home and the host country, government policies, the level of economic activity both in the host and in the home country, wages, political risk, and the rate of inflation.…”

Section: The Economics Of Workers Remittances: Earlier Evidencementioning

confidence: 99%

Worker Remittances and Capital Flows to Developing Countries

Buch

Kuckulenz

2010

International Migration

128

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Worker remittances constitute an increasingly important channel for the transfer of resources to developing countries. Behind foreign direct investment, remittances are the second-largest source of external funding for developing countries. Yet, literature on worker remittances has traditionally focused on the impact of remittances on income distribution within countries, on the determinants of remittances at a micro-level, or on the effects of migration and remittances for specific countries or regions. Macroeconomic determinants and effects of remittances have received more attention only recently. Hence, the focus of this paper is on the macroeconomic determinants of remittances and on differences in these determinants between remittances and other capital flows. We find that remittances respond more to demographic variables while private capital flows respond more to macroeconomic conditions. MOTIVATION

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“…Karafolas and Sariannidis (2009) found that the development of the banking network of Greek and Italian banks in Albania favoured the growth of remittances of Albanian immigrants through the banking system. Karafolas (1995Karafolas ( , 1998 found that banks from Greece, Italy, Portugal and Spain created a banking network in countries where an immigrant population from those countries reside. Amuedo-Doranes and Pozo (2005) working on the case of Mexican immigrants, conclude that educated immigrants and those who have a network of friends and family in the host city, use the banking system to transfer their savings to Mexico.…”

Section: Introductionmentioning

confidence: 99%