Remittances and Portfolio Values: An Inquiry Using Spanish Immigrants from Africa, Europe and the Americas
AbstractUsing a recent Spanish database, we show that remittances respond to cross country differences in portfolio values. This behavior suggests that immigrants are sophisticated economic optimizers who take advantage of opportunities to invest trans-nationally given the networks that immigrants are likely to have developed both in their host and home communities. The responsiveness to portfolio variables persists whether immigrants are highly or less highly educated. However, there are differences in the individual portfolio variables to which immigrants from various regions of the world respond to, as we would expect given migrants' diverse backgrounds and motives for emigrating. Additionally, remitting patterns change over time with the length of the migration spell, suggesting that remittances sent for portfolio motives become more likely as the immediate needs of family left back home are addressed and immigrants settle down in their host communities.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6622.
Length: 37 pages
Date of creation: Jun 2012
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Find related papers by JEL classification:
- F24 - International Economics - - International Factor Movements and International Business - - - Remittances
- F22 - International Economics - - International Factor Movements and International Business - - - International Migration
This paper has been announced in the following NEP Reports:
- NEP-AFR-2012-06-25 (Africa)
- NEP-ALL-2012-06-25 (All new papers)
- NEP-MIG-2012-06-25 (Economics of Human Migration)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Amuedo-Dorantes, Catalina & Mazzolari, Francesca, 2010.
"Remittances to Latin America from migrants in the United States: Assessing the impact of amnesty programs,"
Journal of Development Economics,
Elsevier, vol. 91(2), pages 323-335, March.
- Amuedo-Dorantes, Catalina & Mazzolari, Francesca, 2009. "Remittances to Latin America from Migrants in the United States: Assessing the Impact of Amnesty Programs," IZA Discussion Papers 4318, Institute for the Study of Labor (IZA).
- Matthew Higgins & Alketa Hysenbegasi & Susan Pozo, 2004. "Exchange-rate uncertainty and workers' remittances," Applied Financial Economics, Taylor & Francis Journals, vol. 14(6), pages 403-411.
- Dean Yang, 2008.
"International Migration, Remittances and Household Investment: Evidence from Philippine Migrants' Exchange Rate Shocks,"
Royal Economic Society, vol. 118(528), pages 591-630, 04.
- Dean Yang, 2006. "International Migration, Remittances, and Household Investment: Evidence from Philippine Migrants' Exchange Rate Shocks," NBER Working Papers 12325, National Bureau of Economic Research, Inc.
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