...Remittance Inflows of Increasing Importance for Some Asian Emerging Economies Remittances from workers living abroad have spectacularly risen over the past 10 years for a number of countries, especially in Asia. Inflows have particularly increased in India and China. In India, that is to a large extent due to an increased share of the highly skilled among those working abroad, and a shift from using informal money transfers (hundi or hawala) to formal remittance channels because of regulatory changes and cost. India and China also host large numbers of migrant workers who send money home; outflows from India were worth USD6.4bn, and from China USD4.4bn in 2013. On a net basis, remittance inflows into India were USD63.5bn and USD55.0bn in China. The high level of remittances by the approximately 11 million Indians working abroad may be due to low income levels at home, and generally close family ties, although this is hard to verify. In Bangladesh, the Philippines, Sri Lanka and Vietnam,...
