| |
N° 2009-12 |
  |
| June 2009 |
Remittances, Capital Flows and Financial Development
during the Mass Migration Period, 1870-1913 |
Rui Esteves
David Khoudour-Castéras |
|
| This paper addresses the question whether the substantial financial flows received by
emigration countries in the four decades running up to World War I contributed to
domestic financial development in peripheral Europe. We quantify a sizable and
significant relation between remittances and measures of development of the
financial sector that is both larger than the contribution of other international capital
flows and than the best estimates of the same relation in our days. Given that
financial development is regularly included among the conditions for economic
growth and catch up of developing nations, this paper adds to our understanding of
the multiple impacts of the mass migration phenomenon on the economies of
emigration countries. |
Non-technical summary  |
|
Résumé
non-technique
en français |
|
| Full text |
| |
|
| International migration; remittances; financial development |
Keywords |
| F24; N13; O16 |
JEL classification |
| |
|
| To visualise the full text document, use Acrobat
Reader |
|
| Contact: |
|
| |
|
|
|
|
