International migration, the movement of people across international boundaries to improve economic opportunity, has enormous implications for growth and welfare in both origin and destination countries. An important benefit to developing countries is the receipt of remittances or transfers from income earned by overseas emigrants. Official data show that development countries' remittance receipts totaled 160 billion in 2004, more than twice the size of official aid. This year's edition of Global Economic Prospects focuses on remittances and migration. The bulk of the book covers remittances.

During the 2008 financial crisis, the possible changes in remittance-sending behavior and potential avenues to alleviate a probable decline in remittance flows became concerns. This book brings together a wide array of studies from around the world focusing on the recent trends in remittance flows. The authors have gathered a select group of researchers from academic, practitioner and policy making bodies. Thus the book can be seen as a conversation between the different stakeholders involved in or affected by remittance flows globally. The book is a first-of-its-kind attempt to analyze the effects of an ongoing crisis on remittance flows globally. Data analyzed by the book reveals three trends. First, The more diversified the destinations and the labour markets for migrants the more resilient are the remittances sent by migrants. Second, the lower the barriers to labor mobility, the stronger the link between remittances and economic cycles in that corridor. And third, as remittances proved to be relatively resilient in comparison to private capital flows, many remittance-dependent countries became even more dependent on remittance inflows for meeting external financing needs. There are several reasons for migration and remittances to be relatively resilient to the crisis. First, remittances are sent by the stock (cumulative flows) of migrants, not only by the recent arrivals (in fact, recent arrivals often do not remit as regularly as they must establish themselves in their new homes). Second, contrary to expectations, return migration did not take place as expected even as the financial crisis reduced employment opportunities in the US and Europe. Third, in addition to the persistence of migrant stocks that lent persistence to remittance flows, existing migrants often absorbed income shocks and continued to send money home. Fourth, if some migrants did return or had the intention to return, they tended to take their savings back to their country of origin. Finally, exchange rate movements during the crisis caused unexpected changes in remittance behavior: as local currencies of many remittance recipient countries depreciated sharply against the US dollar, they produced a “sale” effect on remittance behavior of migrants in the US and other destination countries.

Contrary to popular opinion, increasing numbers of migrants continue to participate in the political, social, and economic lives of their countries of origin even as they put down roots in the United States. The Transnational Villagers offers a detailed, compelling account of how ordinary people keep their feet in two worlds and create communities that span borders. Peggy Levitt explores the powerful familial, religious, and political connections that arise between Miraflores, a town in the Dominican Republic, and Jamaica Plain, a neighborhood in Boston and examines the ways in which these ties transform life in both the home and host country. The Transnational Villagers is one of only a few books based on in-depth fieldwork in the countries of origin and reception. It provides a moving, detailed account of how transnational migration transforms family and work life, challenges migrants' ideas about race and gender, and alters life for those who stay behind as much, if not more, than for those who migrate. It calls into question conventional thinking about immigration by showing that assimilation and transnational lifestyles are not incompatible. In fact, in this era of increasing economic and political globalization, living transnationally may become the rule rather than the exception.

Manuel Orozco moves beyond the numbers to provide a uniquely comprehensive, historically informed overview and analysis of the complex role of migrant remittances in the global economy. How do patterns of migration and remittances differ across regions? What kinds of regulatory and institutional frameworks best support the contributions of remittances to local development? What has been the impact of remittances on migrants and their families? Drawing on empirical data from five continents and firmly grounded in theory, Orozco¿s work reflects the evolution of our understanding about the importance of migrant remittances and the policies that govern them.

Remittances remain a key source of funds for developing countries, far exceeding official development assistance and even foreign direct investment. Remittances have proved to be more stable than private debt and portfolio equity flows, and less volatile than official aid flows, and their annual flow can match or surpass foreign exchange reserves in many small countries. Even in large emerging markets, such as India, remittances are equivalent to at least a quarter of total foreign exchange reserves. India, China, Philippines and Mexico are the top recipients of migrant remittances. The Migration and Remittances Factbook 2016 attempts to present numbers and facts behind the stories of international migration and remittances, drawing on authoritative, publicly available data. It provides a snapshot of statistics on immigration, emigration, skilled emigration, and remittance flows for 210 countries and 15 regional and income groups. The Migration and Remittances Factbook 2016 updates the 2011 edition of the Factbook with additional data on bilateral migration and remittances and second generation diasporas, collected from various sources, including national censuses, labor force surveys, population registers, and other national sources.

The Handbook on the Economics of Giving, Reciprocity and Altruism provides a comprehensive set of reviews of literature on the economics of nonmarket voluntary transfers. The foundations of the field are reviewed first, with a sequence of chapters that present the hard core of the theoretical and empirical analyses of giving, reciprocity and altruism in economics, examining their relations with the viewpoints of moral philosophy, psychology, sociobiology, sociology and economic anthropology. Secondly, a comprehensive set of applications are considered of all the aspects of society where nonmarket voluntary transfers are significant: family and intergenerational transfers; charity and charitable institutions; the nonprofit economy; interpersonal relations in the workplace; the Welfare State; and international aid.*Every volume contains contributions from leading researchers*Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys

How remittances—money sent by workers back to their home countries—support democratic expansion In the growing body of work on democracy, little attention has been paid to its links with migration. Migration and Democracy focuses on the effects of worker remittances—money sent by migrants back to their home countries—and how these resources shape political action in the Global South. Remittances are not only the largest source of foreign income in most autocratic countries, but also, in contrast to foreign aid or international investment, flow directly to citizens. As a result, they provide resources that make political opposition possible, and they decrease government dependency, undermining the patronage strategies underpinning authoritarianism. The authors discuss how international migration produces a decentralized flow of income that generally circumvents governments to reach citizens who act as democratizing agents. Documenting why dictatorships fall and how this process has changed in the last three decades, the authors show that remittances increase the likelihood of protest and reduce electoral support for authoritarian incumbents. Combining global macroanalysis with microdata and case studies of Senegal and Cambodia, Migration and Democracy demonstrates how remittances—and the movement of people from authoritarian nations to higher-income countries—foster democracy and its expansion.