Pardee-CFLP-Remittances-TF-Report

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Executive SummaryThis Task Force Report is the outcome of an interdisciplinary research projectorganized by the Boston University Center for Finance, Law & Policy, in collaborationwith The Frederick S. Pardee Center for the Study of the Longer-RangeFuture. The purpose of the Task Force was to research, analyze, and proposepolicy recommendations regarding the role of remittances in post-conflict environmentsand their potential to serve as a major source of development funds.The Report’s authors collectively suggest a broader approach to remittance institutionsthat provides flexibility to adapt to specific local practices and to makebroader institutional connections in an era of growing population displacementand expanding human and capital flows. Conditions for more productive utilizationof migrants’ remittances are analyzed while drawing upon case studies frompost-conflict countries in Africa, Asia, and Latin America.Migrant remittances play an increasingly central role in post-conflict reconstructionand national development of conflict-affected states. Violent conflicts andprolonged ethnic and religious hostilities lead to population displacement; thelivelihoods of those left behind vitally depend on remittance transfers. Privateremittances are of central importance for restoring stability and enhancinghuman security in post-conflict countries. Yet the dynamics of conflict-inducedremittance flows and the possibilities of leveraging remittances for post-conflictdevelopment have been very sparsely researched to date. Remittance flows oftenface severe obstacles in conflict-affected environments, including poor integrationwith the formal economy and unnecessarily strict regulations.The papers in this Task Force Report establish the vital importance of remittancesfor sustaining local livelihoods as well as rehabilitating institutionalinfrastructures and improving financial inclusion in post-conflict environments.Drawing upon existing networks of social support and interacting with a varietyof local institutions, remittance flows can enable connections between diverseorganizations and networks, fostering local entrepreneurship and empowerment.Highlighting the increasing complexity of global remittance systems, theReport examines the growing informality of conflict-induced remittance flowsand explores solutions for more efficient linkages between financial institutionsof different scales and degrees of formality. It discusses challenges to regulatinginternational remittance transfers in the context of growing concerns abouttransparency. The collection of papers establishes the increasing role of diaspora1
networks and migrant associations in post-conflict co-development initiatives,and the growing importance of social remittances in the form of skills, knowledge,and expertise.The discussions highlight the role of remittances in building local resilience todiverse forms of humanitarian crises. Because of their centrality to many socialand economic institutions, post-conflict remittance flows are increasingly criticalto all aspects of human security and peace-building for the longer-term. TheReport outlines the main challenges to leveraging remittances for post-conflictdevelopment and makes recommendations for further research and policyapplications. It suggests that remittances are indispensable for achieving humanempowerment and agency that promote an improved future for many communitiesdevastated by violent conflict.2 A Pardee Center Task Force Report | October 2013
Page 1 and 2: Pardee Center TASK FORCE Report oct
Page 3 and 4: This series of papers, Pardee Cente
Page 5 and 6: AcknowledgementsThis Task Force on
Page 7: ITU International Telecommunication
Page 11 and 12: to developing countries than other
Page 13 and 14: But most importantly, remittances a
Page 15 and 16: often mix in the countries of desti
Page 17 and 18: According to the World Bank estimat
Page 19 and 20: Because of its focus on the multidi
Page 21 and 22: eceiving remittances provides an en
Page 23 and 24: associations for post-conflict inst
Page 25 and 26: are proposed to avoid the associate
Page 27 and 28: Terry, D. 2005. Remittances as a De
Page 29 and 30: oader approach to post-conflict rem
Page 31 and 32: networks can be seen as “homogeno
Page 33 and 34: That personalized nature of hawala
Page 35 and 36: Customary law (xeer) and other trad
Page 37 and 38: the world (Lindley 2009, 531). Much
Page 40 and 41: ize the informal equal efforts to a
Page 42 and 43: struction and development. Means sh
Page 44 and 45: opportunities should focus on exist
Page 46 and 47: 2. Dodd-Frank Act and Remittances t
Page 48 and 49: leadership. Formal payments systems
Page 50 and 51: and financial institutions. 26 Reso
Page 52 and 53: closures should be both in English
Page 54 and 55: issued a new proposed regulation De
Page 56 and 57: “closed network,” in which all
Page 58 and 59:
Some guidance may be found in the p
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the use of mobile devices for money
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Foreign TaxesUnder the 2012 regulat
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will be available in all cases. CFP
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Section II: Remittances in Post-Con
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Sri Lanka. The conflict also result
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Figure 2: Current Account, Trade Ba
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flows came from migrant workers in
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Informal Remittance Channels in Sri
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tory authorities, with some calls f
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4. The Role of Remittances in Post-
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Figure 1: Liberia Per Capita Income
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associations, women’s groups, alu
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Remittances to LiberiaValue of Remi
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credit because of the need to be li
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Remittance Transfers in Sierra Leon
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Knowledge RemittanceThe Liberian di
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process furthermore was a pioneerin
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Levitt, Peggy and Deepak Lamba-Niev
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Section III: Diaspora Networks andC
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Post-Conflict Development,” this
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One of the main challenges for mobi
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6. Transnational Remittances and De
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The Salvadoran Diaspora is very sig
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annually during the 1990s to less t
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Figure 2: Transnational Vicious Cyc
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The transnational vicious cycle not
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emittance flows is mixed, as initia
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individuals, communities, and famil
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areas. This issue can potentially b
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This is a breakthrough moment: afte
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Edwards, Sebastian and I. Igal Mage
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y La Distribucion Del Ingreso, 1st
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7. Remittances and Community Resili
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For quantitative data collection, a
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Remittances are perceived as playin
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the affected population. Internatio
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ReferencesAddleton, J. 1984. The im
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8. Filling the Gap in Health Staffi
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The alternative is for donors to se
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cians in the U.S. in 2000 (Clemens
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1. Remittances, Financial Inclusion
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networks, and communities. The role
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• In the present era of heightene
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the island of Kosrae, in the Federa
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and Sweden and has held visiting pr
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he organized a number of workshops
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