Syndicate content

Add new comment

Submitted by Claudia Franco-Gonzalez on
The financial crisis and likely economic recession will of course depress remittances from migrants worldwide. But this is probably a good thing. Dependence of countries on remittances from their nationals working abroad tends to allow the postponement of needed reforms at home (e.g., Mexico and Philippines). At the same time, the economies of the countries in which the migrants work will often suffer, with negative impact on balance of payments, and an effect of maintaining low wages and economic inequality.