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

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Author Info

  • Batista, Catia

    ()
    (Universidade Nova de Lisboa)

  • Umblijs, Janis

    ()
    (Ragnar Frisch Centre for Economic Research)

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.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7984.

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Length: 32 pages
Date of creation: Feb 2014
Date of revision:
Handle: RePEc:iza:izadps:dp7984

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Related research

Keywords: migration; risk aversion; remittances; insurance;

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Cited by:
  1. Catia Batista & Gaia Narciso, 2014. "Migrant Remittances and Information Flows: Evidence from a Field Experiment," Norface Discussion Paper Series 2014001, Norface Research Programme on Migration, Department of Economics, University College London.
  2. Catia Batista & Janis Umblijs, 2014. "Migration, Risk Attitudes, and Entrepreneurship: Evidence from a Representative Immigrant Survey," Norface Discussion Paper Series 2014004, Norface Research Programme on Migration, Department of Economics, University College London.

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