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Temporary migration and capital market imperfections

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  • Alice Mesnard

Abstract

This paper analyses the temporary migration decision of workers who are credit constrained. As observed with data on Tunisia, migrants who invest after returning to their country have accumulated more savings and stayed longer abroad than salaried return migrants. To capture these features, we analyse the optimal migration duration and occupational choice of workers using a life-cycle maximisation model. An econometric test enables us to evaluate the extend to which liquidity constraints affect self-employment of returned migrants. The model predicts unexpected effects of policy measures on migration behaviour. In particular, migrants who receive funds to invest after return do not necessarily return earlier. Copyright 2004, Oxford University Press.

Suggested Citation

  • Alice Mesnard, 2004. "Temporary migration and capital market imperfections," Oxford Economic Papers, Oxford University Press, vol. 56(2), pages 242-262, April.
  • Handle: RePEc:oup:oxecpp:v:56:y:2004:i:2:p:242-262
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    File URL: http://hdl.handle.net/10.1093/oep/gpf042
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    1. Stark, Oded, 2013. "On the economics of others," University of Tuebingen Working Papers in Economics and Finance 62, University of Tuebingen, Faculty of Economics and Social Sciences.
    2. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Oxford University Press, vol. 60(1), pages 35-52.
    3. Dustmann, Christian & Kirchkamp, Oliver, 2002. "The optimal migration duration and activity choice after re-migration," Journal of Development Economics, Elsevier, vol. 67(2), pages 351-372, April.
    4. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 26-60, January.
    5. Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-298, April.
    6. Magnac, Thierry & Robin, Jean-Marc, 1996. "Occupational choice and liquidity constraints," Ricerche Economiche, Elsevier, vol. 50(2), pages 105-133, June.
    7. John M. Abowd & Richard B. Freeman, 1991. "Immigration, Trade, and the Labor Market," NBER Books, National Bureau of Economic Research, Inc, number abow91-1, July.
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