Remittances and their Impact on the Czech Economy

Martina Šimková and Jitka Langhamrová

Prague Economic Papers, 2015, vol. 2015, issue 5, 562-580

Abstract: Migration of population has been a significant feature of the international economy for a long time. It is an important source of income, foreign exchange and workforce for a large number of economies. The most studies dealing with the international migration consider it as efficient instrument for developing countries, because inflow of money (through remittances) has a positive impact on their economy. However, on the other hand, economically developed countries are threatened by outflow of money abroad. From this perspective, remittances may have negative consequences on the economy. This issue connected with remittances is very often neglected. The Czech Republic and most developed European countries are the immigration countries. It means that many foreigners come here because of work or study, especially from nonEU countries. The paper focuses on rarely discussed issues of migration standing on the border between demographics and economic statistics. It deals with positive and negative aspects of labour immigration with the specific focus on foreigners' behaviour - incomes, expenditures, savings and remittances. It is aimed to determine specific impact of migration and remittances on the economy of the Czech Republic.

Keywords: remittances; migration; labour market; foreigners (search for similar items in EconPapers)
JEL-codes: F22 F24 J61 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.18267/j.pep.548

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