Impact of the Global Financial Crisis on Migration and Remittances

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,...

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Bibliographic Details
Main Authors:	Mohapatra, Sanket, Ratha, Dilip
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESSION COUNTRIES ARBITRATION ASSETS BANK DEPOSITS BANKING NETWORKS BENEFICIARIES BONDS BORDER TRANSFERS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL MARKET CENTRAL BANKS COMPENSATION OF EMPLOYEES CONSUMER LOANS COUNTRIES OF ORIGIN CREDIT HISTORY CREDIT MARKETS CREDIT RATING DEPOSIT DEPOSITS DEPRECIATION DEPRESSION DEVELOPING COUNTRIES DEVELOPMENT ASSISTANCE DEVELOPMENT FINANCE DIASPORA ECONOMIC CRISES ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC DOWNTURNS ECONOMIC GROWTH ECONOMIC POLICY EMERGING MARKET EMERGING MARKETS EMPLOYERS EQUITY FLOWS EXCHANGE CONTROLS EXCHANGE RATE EXCHANGE RATE MOVEMENT EXCHANGE RATE MOVEMENTS EXPENDITURE EXPENDITURES EXTERNAL FINANCE EXTERNAL FINANCING FAMILIES FINANCIAL ACCESS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INTERMEDIARIES FINANCIAL RESOURCES FINANCIAL TRANSACTION FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTORS GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GROWTH RATE HIGH-INCOME COUNTRIES HOME BUYERS HOME COUNTRIES HOST COUNTRIES HOST COUNTRY HOUSEHOLDS INCOME INCOME SHOCKS INCOMES INFORMAL CHANNELS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE PROJECTS INSURANCE INSURANCE PRODUCTS INTEREST RATE INTEREST RATE DIFFERENTIALS INTEREST RATES INTERMEDIARY BANKS INTERNATIONAL CREDIT INTERNATIONAL DEVELOPMENT INTERNATIONAL LABOUR ORGANIZATION INTERNATIONAL MIGRANTS INTERNATIONAL MIGRATION INTERNATIONAL REMITTANCES INVESTMENT PURPOSES INVESTMENT · POLICY LABOR MARKET LEVERAGE LOAN LOAN PRODUCTS LOCAL CURRENCY LOW-INCOME COUNTRIES MACROECONOMIC LEVEL MARKET ACCESS MFI MICROFINANCE MICROFINANCE INSTITUTION MIDDLE-INCOME COUNTRIES MIGRANT TRANSFERS MIGRANT WORKERS MIGRATION POLICY MOBILE PHONE MONETARY FUND MONEY TRANSFER MONEY-TRANSFER COMPANIES MORTGAGES NATIONAL INCOME NATURAL DISASTERS OIL PRICES OUTPUT PAYMENT SYSTEMS PHONE NETWORKS POLICY RESPONSES POSTAL NETWORKS POVERTY REDUCTION PRIVATE BANKS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE CAPITAL INFLOWS PRIVATE DEBT PROTECTIONIST MEASURES PUBLIC EXPENDITURE QUOTAS RECESSION REMITTANCE REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCE INFLOWS AS COLLATERAL REMITTANCE MARKET REMITTANCE PROVIDERS REMITTANCE SERVICE REMITTANCE SERVICE PROVIDERS REMITTANCE SERVICES REMITTANCES REMITTANCES FOR INVESTMENT RETURN RETURN MIGRATION SAVINGS SEND REMITTANCES SETTLEMENT SKILLED MIGRANTS SKILLED WORKERS SLOWDOWN SMALL BUSINESSES SOCIAL SECURITY STOCKS TERRORISM TRANSACTION TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT INSURANCE UNEMPLOYMENT RATES VALUATION
Online Access:	http://documents.worldbank.org/curated/en/2010/02/11900288/impact-global-financial-crisis-migration-remittances http://hdl.handle.net/10986/10210

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Summary:	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.

Impact of the Global Financial Crisis on Migration and Remittances

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