IDEAS home Printed from https://ideas.repec.org/p/phs/dpaper/201211.html
   My bibliography  Save this paper

The Financial Crisis, Oil Price Hike, the Arab Spring and Foreign Demand for Filipino Workers

Author

Listed:
  • Edita A. Tan

    (School of Economics, University of the Philippines Diliman)

Abstract

The paper inquires into the impact of contemporary major world events – the recession in the United States and Western Europe, the oil price hike, and the Arab Spring – on the flow of overseas Filipino workers or OFWs and their remittances. The paper finds that the recession in the West has not spread worldwide for its share in world trade has declined significantly since the 1980s. The oil exporting countries gained from the oil price hike and there are now many more economies that have achieved appreciable growth which they have been able to sustain up to the present, e.g. the Asian tigers, BRICs, Botswana. On the other hand, Tunisia, Egypt, Libya and Syria are minor employers of Filipino workers. Expectedly, the varied economic performance of the world economies has had differential impact on demand for migrant workers. The OFWs have found employment in varied occupations in varied destinations with the large majority in the Middle East and East Asia which have not been negatively affected by the Western recession. Many are also in service occupations that did not suffer as much decline in demand as in other occupations. The paper provides some empirical support to these findings.

Suggested Citation

  • Edita A. Tan, 2012. "The Financial Crisis, Oil Price Hike, the Arab Spring and Foreign Demand for Filipino Workers," UP School of Economics Discussion Papers 201211, University of the Philippines School of Economics.
  • Handle: RePEc:phs:dpaper:201211
    as

    Download full text from publisher

    File URL: http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/694
    Download Restriction: no

    References listed on IDEAS

    as
    1. Geoffrey Ducanes, 2010. "The Case of the Missing Remittances in the FIES : Could it be causing us to mismeasure welfare changes?," UP School of Economics Discussion Papers 201004, University of the Philippines School of Economics.
    Full references (including those not matched with items on IDEAS)

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:phs:dpaper:201211. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Reuben T. Campos). General contact details of provider: http://edirc.repec.org/data/seupdph.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.