Another consequence of the economic crisis: a decrease in migrants' remittances

Isabel Ruiz () and Carlos Vargas-Silva

Applied Financial Economics, 2010, vol. 20, issue 1-2, 171-182

Abstract: The effects of the current global economic crisis are widespread. The economic downturn has affected large sectors of the population in developed and developing countries and international immigrants have not been the exception. This article documents the recent slowdown in workers' remittances, the money that international immigrants send to their countries of origin. Current data indicates that remittance flows have decreased for all regions of the world. Latin America stands out by reporting an almost 0% growth rate of remittances for 2008. Among Latin American countries, Mexico (the largest recipient of remittances in the region in terms of volume) seems to be the most affected with a decrease of more than US$900 million between 2007 and 2008. This article also presents evidence of the impact of some of the factors associated with the current economic crisis on remittances flows. The results indicate that there is a strong link between housing activity in the US and remittances flows.

Date: 2010
References: View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/09603100903266450 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Another Consequence of the Economic Crisis: A Decrease in Migrants’ Remittances (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apfiec:v:20:y:2010:i:1-2:p:171-182

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAFE20

DOI: 10.1080/09603100903266450

Access Statistics for this article

Applied Financial Economics is currently edited by Anita Phillips

More articles in Applied Financial Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().