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Risk Aversion and the Willingness to Migrate in 30 Countries

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  • Peter Huber

    (WIFO)

  • Klaus Nowotny

    (WIFO)

Abstract

We use individual level data covering 30 mostly post-communist and developing countries which account for over a fifth of the worldwide immigrant stock to assess the impact of risk aversion on the willingness to migrate. Consistent with theories of individual level migration decisions, risk aversion has a statistically significant negative impact on both the willingness to migrate within countries as well as abroad. This applies to virtually all countries considered and is robust across various specifications, to alternative measures of risk aversion and to different measures of the willingness to migrate. Differences in the impact of risk aversion on the willingness to migrate are also positively correlated to measures of sending country risks and the missing variable bias of omitting risk aversion from migration regressions is substantial.

Suggested Citation

  • Peter Huber & Klaus Nowotny, 2018. "Risk Aversion and the Willingness to Migrate in 30 Countries," WIFO Working Papers 569, WIFO.
  • Handle: RePEc:wfo:wpaper:y:2018:i:569
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    References listed on IDEAS

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    1. Akgüç, Mehtap & Liu, Xingfei & Tani, Massimiliano & Zimmermann, Klaus F., 2016. "Risk attitudes and migration," China Economic Review, Elsevier, vol. 37(C), pages 166-176.
    2. Chiswick, Barry R, 1978. "The Effect of Americanization on the Earnings of Foreign-born Men," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 897-921, October.
    3. Holger Bonin & Amelie Constant & Konstantinos Tatsiramos & Klaus Zimmermann, 2009. "Native-migrant differences in risk attitudes," Applied Economics Letters, Taylor & Francis Journals, vol. 16(15), pages 1581-1586.
    4. Yuri Andrienko & Sergei Guriev, 2004. "Determinants of interregional mobility in Russia," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(1), pages 1-27, March.
    5. Christian Dustmann & Francesco Fasani & Xin Meng & Luigi Minale, "undated". "Risk Attitudes and Household Migration Decisions," CReAM Discussion Paper Series 1514, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
    6. Borjas, George J, 1987. "Self-Selection and the Earnings of Immigrants," American Economic Review, American Economic Association, vol. 77(4), pages 531-553, September.
    7. repec:wsi:wschap:9789814719902_0012 is not listed on IDEAS
    8. Frédéric Docquier & Giovanni Peri & Ilse Ruyssen, 2016. "The Cross-country Determinants of Potential and Actual Migration," World Scientific Book Chapters,in: The Economics of International Migration, chapter 12, pages 361-423 World Scientific Publishing Co. Pte. Ltd..
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Migration intentions; Risk Aversion; Former Communist Countries;

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