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Migration as a Strategy for Household Finance: A Research Agenda on Remittances, Payments, and Development- Working Paper 354

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  • Michael Clemens and Timothy N. Ogden

Abstract

It is time to fundamentally reframe the research agenda on remittances, payments, and development. We describe many of the research questions that now dominate the literature and why they lead us to uninformative answers. We propose reasons why these questions dominate, the most important of which is that researchers tend to view remittances as states do (as windfall income) rather than as families do (as returns on investment). Migration is, among other things, a strategy for financial management in poor households: location is an asset, migration an investment. This shift of perspective leads to much more fruitful research questions that have been relatively neglected. We suggest 12 such questions.

Suggested Citation

  • Michael Clemens and Timothy N. Ogden, 2014. "Migration as a Strategy for Household Finance: A Research Agenda on Remittances, Payments, and Development- Working Paper 354," Working Papers 354, Center for Global Development.
  • Handle: RePEc:cgd:wpaper:354
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    3. Coon Michael & Neumann Rebecca, 2017. "Follow the Money: Remittance Responses to FDI Inflows," Journal of Globalization and Development, De Gruyter, vol. 8(2), pages 1-20, December.
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    5. Kate Ambler & Diego Aycinena & Dean Yang, 2014. "Remittance Responses to Temporary Discounts: A Field Experiment among Central American Migrants," NBER Working Papers 20522, National Bureau of Economic Research, Inc.
    6. Noray, Savannah & Janzen, Sarah A., 2017. "Household Migration and Expenditure Decisions," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258539, Agricultural and Applied Economics Association.
    7. Michael A. Clemens & David McKenzie, 2018. "Why Don't Remittances Appear to Affect Growth?," Economic Journal, Royal Economic Society, vol. 128(612), pages 179-209, July.
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    More about this item

    Keywords

    migration; finance; global development;

    JEL classification:

    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • F30 - International Economics - - International Finance - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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