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Impact of the Global Financial Crisis on Migration and Remittances

Author

Listed:
  • Mohapatra, Sanket

    (World Bank)

  • Ratha, Dilip

    (World Bank)

Abstract

Remittances to developing countries are estimated to have declined by 6.1 percent in 2009 as a result of weak job markets in major destination countries. Although new migration has fallen, it is still positive. The stock of international migrants, therefore, has continued to grow and remittances have remained resilient. Going forward, remittance flows to Latin America are expected to recover, whereas those to East Asia and South Asia are likely to slow. Policy responses should involve efforts to facilitate migration and remittances to make these flows cheaper, safer, and more productive for both the sending and the receiving countries.

Suggested Citation

  • Mohapatra, Sanket & Ratha, Dilip, 2010. "Impact of the Global Financial Crisis on Migration and Remittances," World Bank - Economic Premise, The World Bank, issue 2, pages 1-8, February.
    • Handle: RePEc:wbk:prmecp:ep2
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    File URL: http://siteresources.worldbank.org/INTPREMNET/Resources/EP2.pdf
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    References listed on IDEAS

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    1. repec:ilo:ilowps:433612 is not listed on IDEAS
    2. Dilip Ratha & Sanket Mohapatra & Ani Silwal, 2009. "Migration and Remittance Trends 2009 : A Better-Than-Expected Outcome So Far, But Significant Risks Ahead," World Bank Publications - Reports 10958, The World Bank Group.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Nuñez, Roy & Osorio-Caballero, María Isabel, 2021. "Remittances, migration and poverty. A study for Mexico and Central America," MPRA Paper 106018, University Library of Munich, Germany.
    2. Aaron Levi Garavito-Acosta & Maria Mercedes Collazos-Gaitan & Manuel Dario Hernandez-Bejarano & Enrique Montes-Uribe, 2019. "Migración internacional y determinantes de las remesas de trabajadores en Colombia," Borradores de Economia 1066, Banco de la Republica de Colombia.
    3. Danzer, Alexander M. & Dietz, Barbara, 2018. "Migrants’ well-being during the global financial crisis: Economic and social predictors," Journal of Comparative Economics, Elsevier, vol. 46(3), pages 770-787.
    4. Balan, Mariana & Uzlau, Carmen, 2010. "Migration in the Context of Current Economic and Financial Crisis - Comparative Analysis," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(5), pages 82-99.
    5. Alexander M. Danzer & Barbara Dietz, 2018. "Getting Incentives Right: The economic and social determinants of migrants’ well-being during the global financial crisis," Working Papers 371, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    6. Weist, Dana & Togo, Eriko & Prasad, Abha, 2010. "Crisis preparedness and debt management in low income countries : strengthening institutions and policy frameworks," Policy Research Working Paper Series 5372, The World Bank.
    7. Valentina VASILE & Liviu VASILE, 2011. "Youths on labour market.Features. Particularities. Pro-mobility factors for graduates. Elements of a balanced policy for labour migration," Romanian Journal of Economics, Institute of National Economy, vol. 32(1(41)), pages 97-123, June.
    8. Danzer, Alexander M. & Dietz, Barbara, 2018. "The Economic and Social Determinants of Migrants' Well-Being during the Global Financial Crisis," IZA Discussion Papers 11272, Institute of Labor Economics (IZA).
    9. László Kajdi, 2018. "Remittances – First Results of a New Survey," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 17(3), pages 85-108.
    10. Stuart Rosewarne, 2013. "Immigration and the Financial Crisis: The United States and Australia Compared . Edited by John Higley , John Nieuwenhuysen , and Stine Neerup , Cheltenham, UK : Edward Elgar . 2011 . 240 pp. RRP $69.," Growth and Change, Wiley Blackwell, vol. 44(3), pages 550-553, September.

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    More about this item

    Keywords

    remittances; labor; developing countries; development; migration; migrants; financial crisis; Latin America; East Asia; South Asia;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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