Politická ekonomie
Politická ekonomie
Prague Economic Papers
University of Economics, Prague

Prague Economic Papers Vol. 24 No. 5

Remittances and their Impact for the Czech Economy

DOI: https://doi.org/10.18267/j.pep.548

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Martina Šimková, Jitka Langhamrová

Migration of population has been a significant feature of the international economy for a long time. It is an important source of income, foreign exchange and workforce for a large number of economies. The most studies dealing with the international migration consider it as efficient instrument for developing countries, because inflow of money (through remittances) has a positive impact on their economy. However, on the other hand, economically developed countries are threatened by outflow of money abroad. From this perspective, remittances may have negative consequences on the economy. This issue connected with remittances is very often neglected. The Czech Republic and most developed European countries are the immigration countries. It means that many foreigners come here because of work or study, especially from non-EU countries. The paper focuses on rarely discussed issues of migration standing on the border between demographics and economic statistics. It deals with positive and negative aspects of labour immigration with the specific focus on foreigners´ behaviour – incomes, expenditures, savings and remittances. It is aimed to determine specific impact of migration and remittances on the economy of the Czech Republic.

Keywords: foreigners, labour market, migration, remittances

JEL Classification: F22, F24, J61