1. Migrants and the Global Financial Crisis
- Author:
- Uri Dadush and Lauren Falcao
- Publication Date:
- 12-2009
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- More than 200 million people reside in a country that is not their birthplace. This “diaspora nation” of migrants outranks all but four of the world's countries in population. These migrants make an immense economic contribution both to their host country and to their home country, primarily through transfers of money they earn back to their home country, which are known as “remittances.” About 82 percent of migrants originate in developing countries, and their remittances, which amounted to an estimated $305 billion in 2008, represent an essential source of foreign exchange for these countries, as well as a major instrument in the fight against poverty.
- Topic:
- Economics, Globalization, Migration, Immigration, and Financial Crisis
- Political Geography:
- Russia, America, and Dubai