1. Discussant remarks on ECE/CES/GE.23/2009/12 BEA, USA
Agenda item 7
Remittances
Discussant remarks on ECE/CES/GE.23/2009/12
BEA, USA

2. Remittances
This is a very good paper – clearly written, well structured and well suited to the proposed manual on how globalisation affects national accounts measures.

3. Remittances
Examples of size are good, could be made more vivid: how doesmit affect individual recipient countries in terms of GDP, GNI?
Top 10 developed countries’ sending of remittances

4. Growth in remittances 1982 – 2008

5. Remittances Collection issues Small size of individual transactions
Uncertain status of who makes them
Transactions outside the formal financial system
Household surveys not good at income measures
Money transfer operators – net not gross

6. Remittances
Page 7 has a very important picture, giving how “remittances” as defined by users relates to national accounts and BPM headings
Page 8 para 18 – this would benefit from more examples, sender and recipient countries and relation to GDP etc.

7. Remittances
Bottom of page 8 – very clear table showing how user terms fit into national accounts definitions.
Operational treatment
“To determine which method (or combination of methods) is most appropriate for a nation, data compilers must be knowledgeable about their remittance market.

8. Remittances Questions and issues
Is there one measure of remittances that should be preferred? No –let the users decide.
Is there a problem combining transfers with income? No – disposable income may be the most interesting measure for a recipient economy

9. Remittances
Does the variety of sources and methods hamper international comparisons?
Yes, but what is the alternative? Compilers should know their data and use the best source for them.
Examples? – I’m all ears

10. Remittances
Summary
A very clear paper, with the required emphasis on how remittances connect to national accounts measures
More could be included (with examples) on the national accounts measures affected by remittances, and what the effect is of errors on the associated national accounts measures such as household income, household spending, saving, disposable income