A free ebook version of this title is available through Luminos, University of California Press’s new open access publishing program for monographs. Visit www.luminosoa.org to learn more. We understand very little about the billions of dollars that flow throughout the world from migrants back to their home countries. In this rigorous and illuminating work, Matt Bakker, an economic sociologist, examines how these migrant remittances—the resources of some of the world’s least affluent people—have come to be seen in recent years as a fundamental contributor to development in the migrant-sending states of the Global South. This book analyzes how the connection between remittances and development was forged through the concrete political and intellectual practices of policy entrepreneurs within a variety of institutional settings, from national government agencies and international development organizations to nongovernmental policy foundations and think tanks.
This book comprehensively explores the messy and contested relationship between everyday practices of remittance sending and receiving, processes of market making, and operations of micro- and global finance. Remittances and Financial Inclusion critically investigates a global migration-development agenda that aims to harness remittances for development by incorporating remittance flows and households into global financial circuits. The book develops a multidisciplinary perspective and combines insights from economic, development, and financial geography as well as international political economy and economic anthropology. It sets out a geographies of remittance marketisation approach to investigate the intricate and grounded ways in which remittance markets are constructed, the extent to which remittance flows and households can be (re)configured and incorporated into global finance, and why such processes are always fragile, contested, and in need of constant renegotiation. Drawing on extensive fieldwork research, the book provides an in-depth critical interrogation of the policies and initiatives that underpin remittance marketisation in Senegal, Ghana, and beyond. This volume will be especially useful to those researching and working in the areas of international development, contemporary geographies of finance and market making, and migration and remittances. It should also prove of interest to policymakers, practitioners, and activists concerned with the relation between migration, remittances, and finance in the Global South.
The current economic crisis reveals just how central finance has become to American life. Problems with obscure securities created on Wall Street radiated outward to threaten the retirement security of pensioners in Florida and Arizona, the homes and college savings of families in Detroit and Southern California, and ultimately the global economy itself. The American government took on vast new debt to bail out the financial system, while the government-owned investment funds of Kuwait, Abu Dhabi, Malaysia, and China bought up much of what was left of Wall Street. How did we get into this mess, and what does it all mean? Managed by the Markets explains how finance replaced manufacturing at the center of the American economy and how its influence has seeped into daily life. From corporations operated to create shareholder value, to banks that became portals to financial markets, to governments seeking to regulate or profit from footloose capital, to households with savings, pensions, and mortgages that rise and fall with the market, life in post-industrial America is tied to finance to an unprecedented degree. Managed by the Markets provides a guide to how we got here and unpacks the consequences of linking the well-being of society too closely to financial markets.
Many countries will be confronted with ageing populations in the coming decades. This will crucially affect the economic outlook for the economy. Population changes directly affect the size of the labour force and consequently potential employment and output growth. Because the timing and magnitude of demographic changes varies significantly across regions, international capital flows will play an important role for the allocation of investment. This book offers a comprehensive treatment of ageing related issues based on a five region overlapping generations model and provides a quantitative assessment until 2050.
Drawing together the work of leading researchers from various disciplines and backgrounds, this illuminating Research Handbook contributes to a revitalised understanding of migration governance. It introduces novel debates regarding how actors and institutions shape significant migration dynamics.
Migration-development regimes (MDRs) -- The rise and fall of the coolie MDR (1834-1947) : racialized class exploitation -- The rise and fall of the nationalist MDR (1947-1977) : erasing the Indian emigrant -- The CEO MDR (1977-present) : liberalizing emigration and tapping emigrants' financial contributions -- The CEO MDR : tapping elite emigrants' ideological contributions and forging an elite class pact of "global Indians" -- Experiencing the CEO MDR from below : poor emigrants -- Experiencing the CEO MDR from below : elite emigrants -- Vulnerabilities in the CEO MDR and a future trajectory.
This volume investigates new migration patterns in the Americas addressing continuities and changes in existing population movements in the region. The book explores migration conditions and intersections across time and space relying on a multidisciplinary, collaborative approach that brings together the expertise of transnational scholars with diverse theoretical orientations, strengths, and methodological approaches. Some of the themes this edited volume explores include main features of contemporary migration in the Americas; causes, composition, and patterns of new migration flows; and state policies enacted to meet the challenges posed by new developments in migration flows.
Immigration and Categorical Inequality explains the general processes of migration, the categorization of newcomers in urban areas as racial or ethnic others, and the mechanisms that perpetuate inequality among groups. Inspired by the pioneering work of Charles Tilly on chain migration, transnational communities, trust networks, and categorical inequality, renowned migration scholars apply Tilly’s theoretical concepts using empirical data gathered in different historical periods and geographical areas ranging from New York to Tokyo and from Barcelona to Nepal. The contributors of this volume demonstrate the ways in which social boundary mechanisms produce relational processes of durable categorical inequality. This understanding is an important step to stop treating differences between certain groups as natural and unchangeable. This volume will be valuable for scholars, students, and the public in general interested in understanding the periodic rise of nativism in the United States and elsewhere.
Across the world we are witnessing daily the lethal effects of a rapid and scary hardening of borders, ignited and justified by manufactured fear and scarcity. In such conditions, highly exploitative ideas of “managed migration” are presented as reasonable and just. And temporary worker programs, championed by countries like Canada and the US, are presented as an acceptable response to both acute labour shortages and ugly nationalist feelings. For this, all workers pay the price in the form of dwindling rights and diminished solidarity. This book is the result of decades of thinking, organizing and deep research on the global struggle for equality and freedom in and against an increasingly walled world. Through this immediate and up-close account, Henaway takes the reader on a journey across a familiar consumer landscape of corporate power — from Amazon and Dollarama to chicken farms and late night rideshares —offering a vivid analysis of the consequences of a system built to marginalize, exploit and divide people through the creation of exclusionary categories of belonging. In Essential Work, Disposable Workers, Henaway offers a counter proposal to the global border, arguing that we reject control over freedom of movement as a means to halt a race to the bottom for all working people and instead build solidarity across struggles for decent work and justice. In this moving account of a global system of hyper-exploitation, Henaway weaves stories of struggle with his own on-the-ground experience and expansive research, to explain the workings of a global system of managed precarity that affects everyone who works, albeit unequally. Written with the unique verve and insight of a committed scholar and decades-long grassroots organizer, Essential Work, Disposable Workers offers a vivid analysis to help us grasp the cruel consequences of borders and points to an alternative future.
An Arbitrage Guide to Financial Markets is the first book to explicitly show the linkages of markets for equities, currencies, fixed income and commodities. Using a unique structural approach, it dissects all markets the same way: into spot, forward and contingent dimensions, bringing out the simplicity and the commonalities of all markets. The book shuns stochastic calculus in favor of cash flow details of arbitrage trades. All math is simple, but there is lots of it. The book reflects the relative value mentality of an institutional trader seeking profit from misalignments of various market segments. The book is aimed at entrants into investment banking and dealing businesses, existing personnel in non-trading jobs, and people outside of the financial services industry trying to gain a view into what drives dealers in today’s highly integrated marketplace. A committed reader is guaranteed to leave with a deep understanding of all current issues. "This is an excellent introduction to the financial markets by an author with a strong academic approach and practical insights from trading experience. At a time when the proliferation of financial instruments and the increased use of sophisticated mathematics in their analysis, makes an introduction to financial markets intimidating to most, this book is very useful. It provides an insight into the core concepts across markets and uses mathematics at an accessible level. It equips readers to understand the fundamentals of markets, valuation and trading. I would highly recommend it to anyone looking to understand the essentials of successfully trading, structuring or using the entire range of financial instruments available today." —Varun Gosain, Principal, Constellation Capital Management, New York "Robert Dubil, drawing from his extensive prior trading experience, has made a significant contribution by writing an easy to understand book about the complex world of today’s financial markets, using basic mathematical concepts. The book is filled with insights and real life examples about how traders approach the market and is required reading for anyone with an interest in understanding markets or a career in trading." —George Handjinicolaou, Partner, Etolian Capital, New York "This book provides an excellent guide to the current state of the financial markets. It combines academic rigour with the author’s practical experience of the financial sector, giving both students and practitioners an insight into the arbitrage pricing mechanism." —Zenji Nakamura, Managing Director, Europe Fixed Income Division, Nomura International plc, London
