ارسال حواله کارگران و نرخ ارز واقعی : پارادوکس هدایا

We test the impact of workers' remittances on the real exchange rate using a panel of 13 Latin American and Caribbean countries. The analysis reveals that workers' remittances have the potential to inflict economic costs on the export sector of receiving countries by reducing its international competitiveness. Our findings raise concerns parallel to those raised by Dutch Disease or Resource Boom models, where resource discoveries result in real exchange rate appreciation and shifting of resources from the traded to the nontraded sectors of the economy.