Has the sovereign debt crisis changed the cyclicality of Portuguese remittances?
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10348/10129 |
Resumo: | This paper explores the cyclicality of remittances into Portugal from 1996 to 2015. Using bilateral correlations and econometric model regression approaches, we investigate if remittances are countercyclical or procyclical with Portuguese, French and Swiss outputs (France and Switzerland being the two main remitting countries). We also examine the ability of remittances to smooth macroeconomic shocks, and compare their role with other exter- nal financial sources. The empirical results suggest that the sover- eign debt crisis has changed the cyclicality of remittances from procyclical in relation to Portuguese GDP in the years before the crisis to countercyclical during the crisis period. This conclusion is valid regardless of the economic situation of home and host countries and is robust to the use of different statistical information to measure the business cycle of Portugal (GDP, private consumption, or unemployment rate). Thus, we conclude that remittances received by Portuguese households played an economic stabilization role in the crisis years. |
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Has the sovereign debt crisis changed the cyclicality of Portuguese remittances?migrationremittancescyclicalitysovereign debt crisisPortugalThis paper explores the cyclicality of remittances into Portugal from 1996 to 2015. Using bilateral correlations and econometric model regression approaches, we investigate if remittances are countercyclical or procyclical with Portuguese, French and Swiss outputs (France and Switzerland being the two main remitting countries). We also examine the ability of remittances to smooth macroeconomic shocks, and compare their role with other exter- nal financial sources. The empirical results suggest that the sover- eign debt crisis has changed the cyclicality of remittances from procyclical in relation to Portuguese GDP in the years before the crisis to countercyclical during the crisis period. This conclusion is valid regardless of the economic situation of home and host countries and is robust to the use of different statistical information to measure the business cycle of Portugal (GDP, private consumption, or unemployment rate). Thus, we conclude that remittances received by Portuguese households played an economic stabilization role in the crisis years.2020-10-12T13:46:40Z2019-01-01T00:00:00Z2019info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10348/10129enghttps://doi.org/10.1080/02692171.2018.1511692Martins, Patricia Sofia FigueiredoCorreia, Leonida Amaral Tomasinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-02-02T12:39:04Zoai:repositorio.utad.pt:10348/10129Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T02:02:12.839722Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
title |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
spellingShingle |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? Martins, Patricia Sofia Figueiredo migration remittances cyclicality sovereign debt crisis Portugal |
title_short |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
title_full |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
title_fullStr |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
title_full_unstemmed |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
title_sort |
Has the sovereign debt crisis changed the cyclicality of Portuguese remittances? |
author |
Martins, Patricia Sofia Figueiredo |
author_facet |
Martins, Patricia Sofia Figueiredo Correia, Leonida Amaral Tomas |
author_role |
author |
author2 |
Correia, Leonida Amaral Tomas |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Martins, Patricia Sofia Figueiredo Correia, Leonida Amaral Tomas |
dc.subject.por.fl_str_mv |
migration remittances cyclicality sovereign debt crisis Portugal |
topic |
migration remittances cyclicality sovereign debt crisis Portugal |
description |
This paper explores the cyclicality of remittances into Portugal from 1996 to 2015. Using bilateral correlations and econometric model regression approaches, we investigate if remittances are countercyclical or procyclical with Portuguese, French and Swiss outputs (France and Switzerland being the two main remitting countries). We also examine the ability of remittances to smooth macroeconomic shocks, and compare their role with other exter- nal financial sources. The empirical results suggest that the sover- eign debt crisis has changed the cyclicality of remittances from procyclical in relation to Portuguese GDP in the years before the crisis to countercyclical during the crisis period. This conclusion is valid regardless of the economic situation of home and host countries and is robust to the use of different statistical information to measure the business cycle of Portugal (GDP, private consumption, or unemployment rate). Thus, we conclude that remittances received by Portuguese households played an economic stabilization role in the crisis years. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-01-01T00:00:00Z 2019 2020-10-12T13:46:40Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10348/10129 |
url |
http://hdl.handle.net/10348/10129 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://doi.org/10.1080/02692171.2018.1511692 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799137106573918208 |