When Migrant Remittances Are Not Everlasting, How Can Morocco Make Up ?

Fida Karam ()
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Fida Karam: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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Abstract: In this paper, I run a computable general equilibrium (CGE) model of the Moroccan economy to investigate the transmission channels through which remittances affect households and sectors. I give a particular attention to the investment of remittances in the real estate sector, by allowing a segmentation of the savings market. To begin with, I assess the negative impact of immigration restrictive policies and permanent migration on the future evolution of remittances. Then I ask what would be the appropriate policies to take the maximum profit from current flows. It turns out that channelling investment from real estate to productive sectors is unexpectedly harmful in terms of growth and welfare. Positive effects stem only from government ability to attract investors through an improvement in the country risk premium, and private efforts to reduce international transfer costs.

Keywords: Sequential dynamics; computable general equilibrium model; migration; remittances.; Dynamique séquentielle; modèle d'équilibre général calculable; transferts.; remittances (search for similar items in EconPapers)
Date: 2008-11
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00344833v2
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Citations: View citations in EconPapers (1)

Published in 2008

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