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The influence of remittances on economic inequality
The influence of remittances on economic inequality
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
The influence of remittances on economic inequality
Remittances, or money transfers sent by migrant workers to their home countries, can have a significant impact on economic inequality in the receiving countries. Remittances can benefit both the individuals receiving the transfers and the broader economy. However, they can also exacerbate existing inequalities, especially if the benefits are not distributed evenly.
On the positive side, remittances can increase the income and purchasing power of households receiving the transfers, helping to reduce poverty and improve living standards. They can also stimulate local economies, as recipients are likely to spend a portion of the remittances on goods and services in their communities, boosting local businesses and creating jobs. Moreover, remittances can serve as a source of investment capital, allowing recipients to start or expand businesses, purchase homes, or finance their education.
However, the positive impacts of remittances can be offset by the unequal distribution of benefits. Remittances tend to flow to households that are already better off, as those with greater resources are more likely to have relatives abroad who are able to send money. As a result, remittances can exacerbate existing inequalities, increasing the gap between the rich and the poor. This can be especially problematic in countries where there is already a high level of income inequality.
In addition to the unequal distribution of benefits, remittances can also have negative impacts on the broader economy. For example, an influx of foreign currency can lead to inflation, eroding the purchasing power of households that do not receive remittances. Moreover, a dependence on remittances can discourage the development of local businesses, as recipients are more likely to spend their money on imported goods, rather than investing in local enterprises.
To mitigate these negative effects, it is important for governments to ensure that the benefits of remittances are distributed more equitably. This can be achieved through a combination of policies and programs aimed at promoting financial inclusion and encouraging investment in local businesses. For example, governments can work with banks and other financial institutions to provide affordable banking services to low-income households, making it easier for them to receive and manage remittances. Governments can also support the development of local enterprises by providing tax incentives, loans, and other forms of financial assistance.
In conclusion, remittances can have a significant impact on economic inequality in receiving countries, and it is important for governments to address the unequal distribution of benefits to ensure that the positive impacts of remittances are maximized and the negative effects are minimized. By promoting financial inclusion and supporting local businesses, governments can help to ensure that remittances have a positive impact on poverty reduction and economic development, while also reducing the gap between the rich and the poor.
The influence of remittances on economic inequality
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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