Remittances to developing countries, monies sent by international migrants to their countries of origin, topped $1 billion a day a decade ago and are projected to reach $440 billion in 2015. Remittances to developing countries surpassed official development aid in the mid-1990s and have risen much faster than the number of international migrants. Remittances help migrants and their families to achieve upward mobility and open a window to faster economic and job growth in migrant countries of origin. Remittances raise two major issues: how to maximise the flow of monies that migrants send home voluntarily and how to ensure that remittances reduce poverty and spur development in migrant areas of origin. Sound economic policies that provide investment opportunities maximise inward remittance flows, but there is no formula to ensure that remittances spur broader economic development.
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The rapid diffusion of information age technologies in the developing world has called into question old analyses of technology with slow diffusion and growth. Rather than viewing technology as an exogenous instrument of change, current analyses examine the regulatory, institutional, and cultural contexts that interact with technology. This chapter analyses the theoretical propositions before examining their applications in issue-areas such as technology transfer, innovation clusters and implications for the information age.
Kenneth A. Reinert
Trade in goods refers to the exchange of tangible and storable items among the countries of the world and, under the right conditions, it provides a number of types of gains from trade. While there has been a great deal of liberalisation in trade in goods, this has been uneven in some specific sectors. It is clear that a number of positive growth and development trajectories have involved exports of goods, but the replication of this pattern by other countries is not always straightforward. Trade in goods has been an integral part of the multilateral trading system, but multilateral negotiations under the Doha Round have been difficult.
The service sector has witnessed a significant increase in cross-border trade and investment flows. This globalisation has been driven by a variety of factors, including advances in information and communication technology, rising income levels and associated increases in the demand for services, opening up and deregulation of many services permitting the entry of domestic and foreign private providers, and demographic imbalances between countries. Globalisation of services has in turn provided countries with new development opportunities and with new avenues for realising economic and welfare gains, but it has also thrown up many challenges and dilemmas for governments and international institutions. This chapter pulls together the body of existing and emerging work on the globalisation of services and its implications for development.