Updating an ODA Policy in Canada: The Role of Global Remittances in Development

The School of Public Policy Publications, Volume 12:11, March 2019

21 Pages Posted: 6 May 2019

See all articles by Cynthia Bansak

Cynthia Bansak

Saint Lawrence University - Department of Economics

Nicole B. Simpson

Colgate University - Economics Department

Date Written: March 24, 2019

Abstract

The federal government has pledged to update Canada’s official development assistance (ODA) policy and this paper examines the potential important role of remittances in the development program. Remittances can serve as a significant form of cross-border capital flows and can have sizable effects on both the sending and receiving countries. This policy piece provides an overview of trends in global remittances and gives a context for the policy discussion on the relationship between remittances and ODA. The paper discusses the primary reasons behind global remittances and their impacts on sending and receiving countries, with a particular emphasis on Canada, the United States and Mexico. Past findings provide insight into the reasons and impacts of remittances on both developed and developing countries. Within the context of Canada, the paper also examines how remittances have been able to complement and possibly drive other development reform efforts domestically and abroad. The goal of the analysis is to help inform the policy discussion in Canada and concludes with a set of policy recommendations for the Canadian federal government.

Suggested Citation

Bansak, Cynthia and Simpson, Nicole, Updating an ODA Policy in Canada: The Role of Global Remittances in Development (March 24, 2019). The School of Public Policy Publications, Volume 12:11, March 2019, Available at SSRN: https://ssrn.com/abstract=3367491

Cynthia Bansak (Contact Author)

Saint Lawrence University - Department of Economics ( email )

One Romoda Drive
Canton, NY 13617
United States

Nicole Simpson

Colgate University - Economics Department ( email )

13 Oak Drive
Hamilton, NY 13346
United States
315-228-7991 (Phone)

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