What Have Remittances Done to Development? Evidence from the Caribbean Community and Common Market

In: The review of black political economy: analyzing policy prescriptions designed to reduce inequalities, Band 43, Heft 3-4, S. 343-361

Abstract

This paper analyzes the long-run impact of remittances on socio-economic development in the Caribbean Community and Common Market (CARICOM) between 1970 and 2013. We find that remittances have improved the health indicators, reducing infant and child mortality, and food deficit and improving life expectancy, and sanitation and water sources, especially in the rural areas. However, remittance inflows have no significant impact on education and communication infrastructure. Neither do they contribute to any demographic changes.