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Capital Constraints and European Migration to Canada: Evidence from the 1920s Passenger Lists

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  • Armstrong, Alexander
  • Lewis, Frank

Abstract

The difficulty or inability to borrow made capital market constraints an important part of the decision of potential emigrants to move from Europe to North America. We formalize the constraint with a life-cycle model, where agents jointly choose the optimal period of saving to finance migration and whether to migrate. Simulations of the model point to the potential role of preferences, the period of adjustment after arrival, and the direct migration costs in determining who will migrate and at what age; and they help account for the large wage gaps between the Old and New World. Our analysis of data from the passenger manifests of Dutch arrivals at Canadian ports from 1925 to 1927, that importantly include the saving of these immigrants, points to the promise of this approach to international migration.

Suggested Citation

  • Armstrong, Alexander & Lewis, Frank, 2009. "Capital Constraints and European Migration to Canada: Evidence from the 1920s Passenger Lists," Queen's Economics Department Working Papers 273726, Queen's University - Department of Economics.
    • Handle: RePEc:ags:quedwp:273726
    DOI: 10.22004/ag.econ.273726
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    Cited by:

    1. is not listed on IDEAS
    2. Bandiera, Oriana & Rasul, Imran & Viarengo, Martina, 2013. "The Making of Modern America: Migratory Flows in the Age of Mass Migration," Journal of Development Economics, Elsevier, vol. 102(C), pages 23-47.
    3. Ran Abramitzky & Leah Platt Boustan & Katherine Eriksson, 2012. "Europe's Tired, Poor, Huddled Masses: Self-Selection and Economic Outcomes in the Age of Mass Migration," American Economic Review, American Economic Association, vol. 102(5), pages 1832-1856, August.

    More about this item

    Keywords

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    JEL classification:

    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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