Migration and Remittances during the Global Financial Crisis and Beyond

Abstract

A collection of papers on remittances research. The fears that the economic crisis of 2008 would lead to a decline in remittances and the returns of migrants to their sending countries were largely unfounded. Our volume reveals that while remittances declined following the crisis, they have largely recovered. Three trends that characterize remittances practices globally are: More diversified destinations and labor markets lead to more resilient remittances for migrants; Lower barriers to labor mobility in receiving countries lead to remittances that are larger and critical to the economic health of migrant households. Remittance-dependent countries rely on remittance inflows for external financial needs.