Remittance typically refers to the proportion of their earrings that migrant workers send to their families in the country of origin; however the scope of transfer covered by remittance is much border. Economists often define remittances with reference to balance of payments statistics. These statistics are the principal source of country-level remittance data, and the underlying definitions give, at least in theory, a precise indication of what the numbers cover. It is increasingly common to regard remittance as the sum of three different entries in balance of payment. One of these components, workers’ remittances, broadly overlaps with the popular conception of remittances. Compensation of employees, is money that people earn by working outside the country where they formally live, for instance by cross-border commuting, seasonal work or employment at a foreign embassy. Finally, migrants’ transfers are the assets... [continues]
Cite This Essay
(2011, 01). Remit. StudyMode.com. Retrieved 01, 2011, from http://www.studymode.com/essays/Remit-547531.html
"Remit" StudyMode.com. 01 2011. 01 2011 <http://www.studymode.com/essays/Remit-547531.html>.
"Remit." StudyMode.com. 01, 2011. Accessed 01, 2011. http://www.studymode.com/essays/Remit-547531.html.