Finance, Development, and Remittances: Extending the Scale of Accumulation in Migrant Labour Regimes

Cross, Hannah 2015. Finance, Development, and Remittances: Extending the Scale of Accumulation in Migrant Labour Regimes. Globalizations. 12 (3), pp. 305-321. doi:10.1080/14747731.2015.1016302

TitleFinance, Development, and Remittances: Extending the Scale of Accumulation in Migrant Labour Regimes
AuthorsCross, Hannah
Abstract

The last decade has seen a heightened level of interest in the relationship between
remittances and development, driven by the World Bank and other Bretton Woods Institutions. This has materialised in a global agenda to incorporate migrants and their households in commercial banking. The double significance of this policy rests in the financial incorporation of migrants and their households, and in the deepening entrenchment of the historical labour migration dynamic between sending communities and centres of capital. The central role of labour power in the advance of money forms the core of this analysis of a contemporary market-building strategy. This article presents a threefold critique of the global remittance agenda, based on (1) its transformative profit-driven development ideology, (2) its detachment of remittances from the political economy of migrant labour regimes, and (3) its
dismissal of existing modes of remitting and uses of the funds.

Keywordslabour migration, remittances, neo-liberalism, capital accumulation, financialisation, modes of production, West Africa
JournalGlobalizations
Journal citation12 (3), pp. 305-321
ISSN1474-7731
Year2015
PublisherTaylor & Francis
Accepted author manuscriptCross_Globalizations_2015.pdf
Digital Object Identifier (DOI)doi:10.1080/14747731.2015.1016302
Web address (URL)http://www.tandfonline.com/doi/full/10.1080/14747731.2015.1016302
Publication dates
Published02 Apr 2015

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