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Remittances and Competitiveness: The Case of the Philippines

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  • Bayangos, Veronica
  • Jansen, Karel
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    Abstract

    The paper looks at the impact of migration and workers’ remittances on the competitiveness of the home economy. It extends existing research that concentrated on the exchange rate effects of remittances, the so-called Dutch disease effect, by adding labor market effects. The results show that the labor market effects of emigration and remittances have a significant impact on competitiveness that goes beyond the traditional exchange rate effect.

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    Bibliographic Info

    Article provided by Elsevier in its journal World Development.

    Volume (Year): 39 (2011)
    Issue (Month): 10 ()
    Pages: 1834-1846

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    Handle: RePEc:eee:wdevel:v:39:y:2011:i:10:p:1834-1846

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    Web page: http://www.elsevier.com/locate/worlddev

    Related research

    Keywords: remittances; Dutch disease; competitiveness; labor market; monetary policy; Asia; Philippines;

    References

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    1. Amuedo-Dorantes, Catalina & Pozo, Susan, 2004. "Workers' Remittances and the Real Exchange Rate: A Paradox of Gifts," World Development, Elsevier, Elsevier, vol. 32(8), pages 1407-1417, August.
    2. Clarida, R. & Gali, J. & Gertler, M., 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and some Theory," Working Papers, C.V. Starr Center for Applied Economics, New York University 98-01, C.V. Starr Center for Applied Economics, New York University.
    3. Calero, C. & Bedi, A.S. & Sparrow, R.A., 2008. "Remittances, liquidity constraints and human capital investments in Ecuador," ISS Working Papers - General Series, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague 18735, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    4. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, Elsevier, vol. 12(3), pages 383-398, September.
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    6. Rapoport, Hillel & Docquier, Frederic, 2006. "The Economics of Migrants' Remittances," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier, Elsevier.
    7. McCormick, Barry & Wahba, Jackline, 2000. "Overseas Employment and Remittances to a Dual Economy," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 110(463), pages 509-34, April.
    8. Fagerberg, Jan, 1988. "International Competitiveness: Errata," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 98(393), pages 1203, December.
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    10. Prachi Mishra, 2006. "Emigration and Wages in Source Countries," IMF Working Papers 06/86, International Monetary Fund.
    11. Dean Yang, 2008. "International Migration, Remittances and Household Investment: Evidence from Philippine Migrants' Exchange Rate Shocks," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 118(528), pages 591-630, 04.
    12. Yves Bourdet & Hans Falck, 2006. "Emigrants' remittances and Dutch Disease in Cape Verde," International Economic Journal, Taylor & Francis Journals, Taylor & Francis Journals, vol. 20(3), pages 267-284.
    13. Jackline Wahba, 1998. "The transmission of Dutch disease and labour migration," The Journal of International Trade & Economic Development, Taylor & Francis Journals, Taylor & Francis Journals, vol. 7(3), pages 355-365.
    14. Maria Demertzis & Nicola Viegi, 2004. "Inflation Targets as Focal Points," DNB Working Papers, Netherlands Central Bank, Research Department 017, Netherlands Central Bank, Research Department.
    15. Fagerberg, Jan, 1988. "International Competitiveness," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 98(391), pages 355-74, June.
    16. Pablo A. Acosta & Emmanuel K.K. Lartey & Federico S. Mandelman, 2007. "Remittances and the Dutch disease," Working Paper, Federal Reserve Bank of Atlanta 2007-08, Federal Reserve Bank of Atlanta.
    17. Carlos Vargas-Silva, 2007. "The Tale of Three Amigos: Remittances, Exchange Rates and Money Demand in Mexico," Working Papers, Sam Houston State University, Department of Economics and International Business 0704, Sam Houston State University, Department of Economics and International Business.
    18. Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005. "Are Immigrant Remittance Flows a Source of Capital for Development?," IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 55-81, April.
    19. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, American Economic Association, vol. 77(4), pages 647-66, September.
    20. Yabuuchi, Shigemi & Chaudhuri, Sarbajit, 2007. "International migration of labour and skilled-unskilled wage inequality in a developing economy," Economic Modelling, Elsevier, vol. 24(1), pages 128-137, January.
    21. Bayangos, V.B. & Jansen, K., 2009. "The Macroeconomics of Remittances In the Philippines," ISS Working Papers - General Series, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague 470, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
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    Cited by:
    1. João Sousa Andrade & António Portugal Duarte, 2013. "The Dutch Disease in the Portuguese Economy," GEMF Working Papers 2013-05, GEMF - Faculdade de Economia, Universidade de Coimbra.
    2. Nuru Giritli & Sevin Ugural, 2012. "A custom made CGE Model for an isolated, politically non-recognized small island economy: Exogenous income shock to the North Cyprus Economy," EcoMod2012 4282, EcoMod.
    3. Christos Nikas & Student Anastasia Blouchoutzi, 2014. "Emigrants’ Remittances and the “Dutch Disease” in Small Transition Economies: the Case Of Albania and Moldova," Romanian Statistical Review, Romanian Statistical Review, Romanian Statistical Review, vol. 62(1), pages 45-65, March.
    4. Thomas Goda & Alejandro Torres, 2013. "Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case," DOCUMENTOS DE TRABAJO CIEF, UNIVERSIDAD EAFIT 010930, UNIVERSIDAD EAFIT.

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