Abundance from Abroad: Migrant Income and Long-Run Economic DevelopmentIndian Rupee

• 成果类型: Article
• 署名作者: Khanna, Gaurav; Murathanoglu, Emir; Theoharides, Caroline; Yang, Dean
• 署名单位: University of California System; University of California San Diego; University System of Ohio; Oberlin College; Amherst College; University of Michigan System; National Bureau of Economic Research; University of Michigan
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282; 1944-7981
• DOI: 10.1257/aer.20241465
• 发表日期: 2026-04
• 页码: 1540-1577
• 关键词: international migration; brain-drain; emigration; return; immigration; responses; impacts; access; price

摘要

We study how international migrant income prospects affect long-run development in origin areas. We leverage the 1997 Asian Financial Crisis exchange rate shocks in a shift-share identification strategy across Philippine provinces. Initial migrant income shocks are magnified six-fold over time, increasing domestic income, education levels, migrant skills, and high-skilled migration. Remarkably, 74.9 percent of long-run income gains come from domestic rather than migrant income. Trade driven impacts of exchange rate shocks are orthogonal to effects via migrant income. A structural model reveals that 19.7 percent of long-run income gains stem from educational investments. International migration fosters broad economic development in origin communities. (JEL F22, F31, G01, J24, J82, O15, O16)