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the huge immigration inflows recorded by Spain since the 1990s. In pursuing this exercise, Banco de Espa?a may have designed a model that overestimates remittance flows.

 

International organizations tend to assume that remittances constitute an important, predictable, and stable source of external financing that could be undervalued by central banks. Nonetheless, a closer look at figures for Spain and Ecuador indicate that alternative sources of data offer a very different picture. It would be necessary to explore the methodologies behind each of these sources to correctly explain the differences.

 

What is the distribution of remittances among quintiles? [17]

 

According to INEC data collected in 2006, remittances are distributed among quintiles as shown in Table 2. The quintile that concentrates the highest proportion of remittances is quintile 4 (43% of total transfers), followed by quintile 5 (just over 34%), quintile 3 (at 17.04%), quintile 2 (less than 4%) and, in the last position, quintile 1 (slightly more than 2%). Actually, the two richest quintiles (4 and 5) concentrated more than 77% of total remittance inflows in 2006. Like other Latin American countries, Ecuador records high rates of income inequality, [18] which explains the very wide range of income in quintile 5 (starting at $275/month and rising to as high as $7,427/month [19] (see Table 2)). [20]

 

These results are consistent with analyses of the patterns and evolution of Ecuadorian migration –migrants are not from among the poorest populations (López and Villamar, 2004)–, and with a previous study on the income distribution of remittances in the Andean country (Acosta et al. 2006). But according to Bendixen (2003), per capita income of remittance beneficiaries is slightly above the poverty threshold. Such differing results might be explained by methodological differences, or by an evolution of the economic features of recipients. Data for Bendixen’s analysis were collected in 2003, just three years after the economic crisis that partly explains the latest migration wave. Different population movements may have taken place in subsequent years, such as family reunion in destination countries (shifting the remittances to different beneficiaries in Ecuador), or improvement in the living conditions of recipients as a consequence of sustained flow, or as a result of other internal or external economic factors.

 

What are remittances used for?

 

Answering this question, and evaluating the impact of remittances on social indicators, has required the collection of new data, as information provided by INEC was not sufficient. For a detailed description of the database, see Box 1. One of our goals in collecting new data on remittances was to get a clearer picture of how this foreign inflow is consumed or invested, in order to more precisely evaluate its potential impact on develop本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。