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Business Cycles and Workers' Remittances: How Do Migrant Workers Respond to Cyclical Movements of GDP At Home?
Author:
Mr. Serdar Sayan
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Series:
IMF Working Papers
Volume/Issue:
Volume 2006: Issue 052
Language:
English
Publication Date:
01 Feb 2006
DOI:
https://doi.org/10.5089/9781451863123.001
ISBN:
9781451863123
ISSN:
1018-5941
Pages:
21
Keywords:
WP; remittance; role remittances play; remittance behavior; spending; workers’ remittances; business cycles; consumption vs. investment motive; remittance receipt; remittances cycle; remittances series; workers' remittance; Bangladesh's remittances receipt; remittance flow; Remittances; Migrant labor; Income; Procyclicality; Africa; Middle East
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Workers' remittances are often argued to have a tendency to move countercyclically with the GDP in recipient countries since migrant workers are expected to remit more during down cycles of economic activity back home. Yet, how much to remit is a complex decision involving other factors, and different variables driving remittance behavior are differently affected by the state of economic activity over the business cycle. This paper investigates the behavior of workers' remittances flows into 12 developing countries over their respective business cycles during 1976-2003 and finds that countercyclicality of receipts is not commonly observed across these countries.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund