Worker?s Remittances As Stable Financial Flows: Some Evidence From India

This paper dwells upon the financial dimension of workers' remittances as this issue has assumed significant policy attention across the spectrum of developing countries. Specifically, it addresses the following: Literature on workers'' remittances in a macro economic framework; Stability of workers' remittances as a sustainable source of external finance; Channels through the workers' remittances flows into India and the issue of high transaction cost entailed in transmitting funds; and Impact of policy reforms in India on the modes of remittance transfers.