Migration and Remittances During the Global Financial Crisis and Beyond

Attempting to analyze the effects of an ongoing crisis on remittance flows globally, this book reveals three trends: the more diversified the destinations and the labour markets for migrants the more resilient are the remittances sent by migrants; the lower the barriers to labor mobility, the stronger the link between remittances and economic cycles in that corridor; and as remittances proved to be relatively resilient in comparison to private capital flows, many remittance-dependent countries became even more dependent on remittance inflows for meeting external financing needs.