Migration, Remittances, and Economic Development

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Migration, Remittances,
and Economic Development
Dean Yang
University of Michigan

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• Between 1965 and 2010, the fraction of people living outside
their countries of birth increased from 2.2% to 3.1% of w...

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• Vast numbers of people in low-income countries want to
emigrate, but cannot
• Gallup World Poll: more than 40 percent ...

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Notes: Ratios of U.S. to home-country wages for 35-year-old male urban worker with 9 years of education acquired in home...

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MotivationRemittances vs. other international financial flows
Data show international financial flows to developing coun...

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MotivationTop remittance recipient countries
Source: World Bank Development Prospects Group, “Migration and Development ...

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• Remittances bring substantial benefits at the household level
– Higher consumption, lower poverty
– Increased investme...

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Source: Yang (2008).
MotivationA natural experiment among Filipino migrants
0.7
0.8
0.9
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1.1
1.2
1.3
1.4
1.5
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1.7
Ju...

15.0%
13.0%
3.5%
1.8%
11.6%
27.7%
-16.7%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Effectof25%improvementinmigrant'sexc...

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• Decentralized nature of remittances poses challenges for policy
– How to encourage individual migrants to send more?
...

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• Enhance migrant control over financial decisions at home
– Savings experiments
• Banco Agricola study
• Matricula con...

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“I have many uncles and they get drunk, so I just send
money when needed, or I send to someone like my sister who I
tru...

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• Migrants currently have limited ability to monitor or control how
remittances are used by recipients
• Migrants and r...

Migrant vs. recipient remittance allocation (US$)
Source: El Salvador Study of Migrant Families (ESSMF), Ashraf et al (201...

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• We offered Salvadoran migrants in metro Washington, DC the
ability to directly channel remittances into savings accou...

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MotivationImpact on savings at Banco Agricola
$186
$231
$334
$482
$0
$100
$200
$300
$400
$500
$600
Control Treatment 1 ...

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• No identifiable impact on savings when channeling remittances
only to bank accounts for remittance recipients
• Subst...

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• Funding for education
– Eduremesa study with Viamericas (Ambler et al, 2015)
• Migrants direct remittances to educati...

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• Enhance migrant control over financial decisions at home
– Savings experiments
• Banco Agricola study
• Matricula con...

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• Financial literacy training for migrants before departure, and their
families (Doi et al. 2014)
– Indonesian female m...

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MotivationImpact on migrant savings, remittances
Savings Remittances
52,593
35,742
0
10,000
20,000
30,000
40,000
50,000...

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• Enhance migrant control over financial decisions at home
– Savings experiments
• Banco Agricola study
• Matricula con...

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• asdf
MotivationExperiment with money transmitter Viamericas
• On-the-spot survey of remitters
• Randomized discount o...

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• Two studies
– With Banagricola among Salvadorans (Aycinena et al 2010)
• Provided discounts in increments of $1 to $5...

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Control Treatment
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MotivationRemittance transactions to PRR
Time periods are 2-w...

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Time periods are 2-week intervals to reduce noise. Remittances are total $ sent during the 2-week
interval.
MotivationR...

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• Recent experimental findings point the way towards promising
policies to promote financial inclusion of migrants and ...

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• What is impact of simply labeling remittances for specific
purposes, such as education?
• Would migrants guarantee mi...

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Ambler, Kate, Diego Aycinena, and Dean Yang (2015), “Channeling Remittances to Education: A Field Experiment among Migr...

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