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Do Migrants Send Remittances as a Way of Self-Insurance? Evidence from a Representative Immigrant Survey

Catia Batista and Janis Umblijs ()
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Janis Umblijs: Institute for Social Research, Oslo

No 7984, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Do migrants send remittances as a way of obtaining insurance? While this motive is theoretically suggested in the literature, the question of identifying this relationship empirically has only begun to be explored. Using a unique representative survey of 1500 immigrants in the Greater Dublin Area, Ireland, we find a positive and significant relationship between risk aversion and remittance behavior. Risk-averse individuals are more likely to send remittances home and are, on average, likely to remit a higher amount, after controlling for a broad range of individual and group characteristics. Consistent with a "purchase of self-insurance" motive to remit, we also provide evidence of more remittances sent by risk averse immigrants facing higher wage risks and remitting to individuals with more financial resources.

Keywords: insurance; remittances; risk aversion; migration (search for similar items in EconPapers)
JEL-codes: D81 F22 F24 J01 J08 J15 J61 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2014-02
New Economics Papers: this item is included in nep-ias, nep-int and nep-mig
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Forthcoming - published in: Oxford Economic Papers, 2016, 68 (1): 108-130. [Online First]

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Working Paper: Do Migrants Send Remittances as a Way of Self-Insurance? Evidence from a Representative Immigrant Survey (2014) Downloads
Working Paper: Do Migrants Send Remittances as a Way of Self-Insurance? Evidence from a Representative Immigrant Survey (2014) Downloads
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