International migration, remittances and household investment: Evidence from Philippine migrants' exchange rate shocks

• 成果类型: Article
• 署名作者: Yang, Dean
• 署名单位: University of Michigan System; University of Michigan
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/j.1468-0297.2008.02134.x
• 发表日期: 2008
• 页码: 591-630
• 关键词: poor countries; child labor; Mexico; entrepreneurship; accumulation; communities; constraints; ECONOMICS; savings; return

摘要

How do households respond to overseas members' economic shocks? Overseas Filipinos in dozens of countries experienced sudden, heterogeneous changes in exchange rates during the 1997 Asian financial crisis. Appreciation of a migrant's currency against the Philippine peso leads to increases in household remittances from overseas. The estimated elasticity of Philippine-peso remittances with respect to the exchange rate is 0.60. Positive migrant shocks lead to enhanced human capital accumulation and entrepreneurship in origin households. Child schooling and educational expenditure rise, while child labour falls. Households also work more hours in self-employment, and become more likely to start relatively capital-intensive household enterprises.