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The hidden force in global economics: sending money home

1,483,648 views | Dilip Ratha • TEDGlobal 2014

In 2013, international migrants sent $413 billion home to families and friends — three times more than the total of global foreign aid (about $135 billion). This money, known as remittances, makes a significant difference in the lives of those receiving it and plays a major role in the economies of many countries. Economist Dilip Ratha describes the promise of these “dollars wrapped with love” and analyzes how they are stifled by practical and regulatory obstacles.

In 2013, international migrants sent $413 billion home to families and friends — three times more than the total of global foreign aid (about $135 billion). This money, known as remittances, makes a significant difference in the lives of those receiving it and plays a major role in the economies of many countries. Economist Dilip Ratha describes the promise of these “dollars wrapped with love” and analyzes how they are stifled by practical and regulatory obstacles.

This talk was presented at an official TED conference. TED's editors chose to feature it for you.

About the speaker

Remittances expert

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Economist Dilip Ratha was the first to analyze the global significance of remittances -- money sent from foreign workers to their families back home.

The World Bank | October 6, 2014 | Article

Remittances to Developing Countries to Grow by 5 Percent this Year, While Conflict-Related Forced Migration is at All-Time High, Says WB Report

Ngozi Okonjo-Iweala and Dilip Ratha | The New York Times, March 11, 2011 | Article

Homeward Bond

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This talk was presented at an official TED conference. TED's editors chose to feature it for you.