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Rücküberweisungen durch Migrantinnen und Migranten – Finanzmarktbezogene Gründe und wirtschaftliche Folgen

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  2. Economics, Finance, Business & Management
  3. Vierteljahrshefte zur Wirtschaftsforschung
  4. Vol. 87, Issue 3
  5. pp. 151–164

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Baas, T. Rücküberweisungen durch Migrantinnen und Migranten – Finanzmarktbezogene Gründe und wirtschaftliche Folgen. Vierteljahrshefte zur Wirtschaftsforschung, 87(3), 151-164. https://doi.org/10.3790/vjh.87.3.151
Baas, Timo "Rücküberweisungen durch Migrantinnen und Migranten – Finanzmarktbezogene Gründe und wirtschaftliche Folgen" Vierteljahrshefte zur Wirtschaftsforschung 87.3, 2018, 151-164. https://doi.org/10.3790/vjh.87.3.151
Baas, Timo (2018): Rücküberweisungen durch Migrantinnen und Migranten – Finanzmarktbezogene Gründe und wirtschaftliche Folgen, in: Vierteljahrshefte zur Wirtschaftsforschung, vol. 87, iss. 3, 151-164, [online] https://doi.org/10.3790/vjh.87.3.151
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Rücküberweisungen durch Migrantinnen und Migranten – Finanzmarktbezogene Gründe und wirtschaftliche Folgen

Baas, Timo

Vierteljahrshefte zur Wirtschaftsforschung, Vol. 87 (2018), Iss. 3 : pp. 151–164

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Article Details

Publisher Name
Duncker & Humblot
DOI
https://doi.org/10.3790/vjh.87.3.151
Language
German
Pages
14
Keywords

Author Details

Timo Baas, Duale Hochschule Baden-Württemberg – DHBW Stuttgart.

References

  1. Acosta, Pablo A., Emmanuel K. K. Lartey und Federico S. Mandelman (2009): Remittances and the Dutch disease. Journal of International Economics, 79 (1), 102–116.  Google Scholar
  2. Aizenman, Joshua und Michael M. Hutchison (2012): Exchange market pressure and absorption by international reserves: Emerging markets and fear of reserve loss during the 2008–2009 crisis. Journal of International Money and Finance, 31 (5), 1076–1091. DOI: 10.1016/j.jimonfin.2011.12.011.  Google Scholar
  3. Ambrosius, Christian und Alfredo Cuecuecha (2016): Remittances and the use of formal and informal financial services. World Development, 77, 80–98.  Google Scholar
  4. Baas, Timo (2015): Migration. In: Norman Braun (Hrsg.): Handbuch Modellbildung und Simulation in den Sozialwissenschaften. Wiesbaden, Springer VS (Handbuch).  Google Scholar
  5. Baas, Timo (2017): Fachkräftezuwanderung im Rahmen der EU-Binnenmobilität. In: Bertelsmann Stiftung (Hrsg.): Faire Fachkräftezuwanderung nach Deutschland. Grundlagen und Handlungsbedarf im Kontext eines Einwanderungsgesetzes. Gütersloh, Verlag der Bertelsmann Stiftung, 89–112.  Google Scholar
  6. Baas, Timo und Silvia Melzer (2012): The macroeconomic impact of remittances: A sending country perspective. Norface Discussion Paper Series (2012021).  Google Scholar
  7. Bang, James T., Aniruddha Mitra und Phanindra V. Wunnava (2015): Financial liberalization and remittances. Recent panel evidence. Journal of International Trade and Economic Development, 24 (7-8), 1077–1102.  Google Scholar
  8. Bayar, Yilmaz (2015): Impact of remittances on the economic growth in the transitional economies of the European Union. Economic Insights: Trends and Challenges, 67 (3), 1–10.  Google Scholar
  9. Beck, Thorsten, Katie Kibuuka und Erwin R. Tiongson (2013): Mortgage finance in Central and Eastern Europe – opportunity or burden? In: Robert Cull, Asli Demirguc-Kunt und Jonathan Morduch (Hrsg.): Banking the World: Empirical foundations of financial inclusion. Cambridge/London, MIT Press, 305–389.  Google Scholar
  10. Bernini, Michele und Alberto Montagnoli (2017): Competition and financial constraints. A two-sided story. Journal of International Money and Finance, 70, 88–109.  Google Scholar
  11. Brown, Martin, Steven Ongena, Alexander Popov und Pinar Yesin (2011): Who needs credit and who gets credit in Eastern Europe? Economic Policy, (65), 93.  Google Scholar
  12. Brown, Richard P.C. und Fabrizio Carmignani (2015): Revisiting the effects of remittances on bank credit. A macro perspective. Scottish Journal of Political Economy, 62 (5), 454–485.  Google Scholar
  13. Brücker, Herbert (2009): Labour mobility within the EU in the context of enlargement and the functioning of the transitional arrangements. Final Report. IAB, CMR, fRDB, GEP, WIFO, wiiw. Nürnberg.  Google Scholar
  14. Correia, L. und P. Martins (2016): Are remittances an instrument of stabilization and funding in the Euro Area? Applied Economics Letters, 23 (16-18), 1177–1181.  Google Scholar
  15. Demirguc-Kunt, Asli, Leora F. Klapper und Georgios A. Panos (2011): Entrepreneurship in post-conflict transition: The role of informality and access to finance. Economics of Transition, 19 (1), 27–78.  Google Scholar
  16. El Hamma, Imad (2017): Linking remittances with financial development and institutions. A Study from selected MENA Countries. Topics in Middle Eastern and North African Economies, 19 (1), 113–135.  Google Scholar
  17. Giuliano, Paola und Marta Ruiz-Arranz (2009): Remittances, financial development, and growth. Journal of Development Economics, 90 (1), 144–152.  Google Scholar
  18. Hashi, Iraj und Valentin Z. Toci (2010): Financing constraints, credit rationing and financing obstacles. Evidence from firm-level data in South-Eastern Europe. Economic and Business Review, 12 (1), 29–60.  Google Scholar
  19. Hassan, Gazi M. und Mark J. Holmes (2016): Do remittances facilitate a sustainable current account? World Economy, 39 (11), 1834–1853.  Google Scholar
  20. Issahaku, Haruna, Joshua Yindenaba Abor und Simon Kwadzogah Harvey (2017): Remittances, banks and stock markets. Panel evidence from developing countries. Research in International Business and Finance, 42, 1413–1427.  Google Scholar
  21. Koesler, S. und M. Schymura (2015): Substitution elasticities in a constant elasticity of substitution framework. Empirical estimates using nonlinear least squares. Economic Systems Research, 27 (1), 101–121.  Google Scholar
  22. Lea, Michael J. (1999): Contractual savings for housing. How suitable are they for transitional economies? Policy Research Working Paper Series (1516), The World Bank. Washington, D. C.  Google Scholar
  23. Lim, Sokchea und A. K. M. Mahbub Morshed (2015): International migration, migrant stock, and remittances. Reexamining the motivations to remit. Quarterly Review of Economics and Finance, 57, 101–115.  Google Scholar
  24. Posso, Alberto (2015): Remittances and financial institutions. Is there a causal linkage? B. E. Journal of Macroeconomics, 15 (2), 769–789.  Google Scholar
  25. Roy, Friedemann (2008): Mortgage markets in Central and Eastern Europe – a review of past experiences and future perspectives. European Journal of Housing Policy, 8 (2), 133–160.  Google Scholar
  26. Saito, Mika (2004): Armington elasticities in intermediate inputs trade: A problem in using multilateral trade data. The Canadian Journal of Economics/Revue canadienne d’Economique, 37 (4), 1097–1117.  Google Scholar
  27. Statistisches Bundesamt (2015): Bevölkerung Deutschlands bis 2060 – 13. koordinierte Bevölkerungsvorausberechnung. Destatis, zuletzt geprüft am 5.6.2018.  Google Scholar
  28. Vandenbussche, Jerome, Ursula Voge und Enrica Detragiache (2015): Macroprudential policies and housing prices. A new database and empirical evidence for Central, Eastern, and Southeastern Europe. Journal of Money, Credit, and Banking, 47, 343–377.  Google Scholar
  29. Acosta, Pablo A., Emmanuel K. K. Lartey und Federico S. Mandelman (2009): Remittances and the Dutch disease. Journal of International Economics, 79 (1), 102–116.  Google Scholar
  30. Vandenbussche, Jerome, Ursula Voge und Enrica Detragiache (2015): Macroprudential policies and housing prices. A new database and empirical evidence for Central, Eastern, and Southeastern Europe. Journal of Money, Credit, and Banking, 47, 343–377.  Google Scholar
  31. Posso, Alberto (2015): Remittances and financial institutions. Is there a causal linkage? B. E. Journal of Macroeconomics, 15 (2), 769–789.  Google Scholar
  32. Saito, Mika (2004): Armington elasticities in intermediate inputs trade: A problem in using multilateral trade data. The Canadian Journal of Economics/Revue canadienne d’Economique, 37 (4), 1097–1117.  Google Scholar
  33. Roy, Friedemann (2008): Mortgage markets in Central and Eastern Europe – a review of past experiences and future perspectives. European Journal of Housing Policy, 8 (2), 133–160.  Google Scholar
  34. Statistisches Bundesamt (2015): Bevölkerung Deutschlands bis 2060 – 13. koordinierte Bevölkerungsvorausberechnung. Destatis, zuletzt geprüft am 5.6.2018.  Google Scholar
  35. Lim, Sokchea und A. K. M. Mahbub Morshed (2015): International migration, migrant stock, and remittances. Reexamining the motivations to remit. Quarterly Review of Economics and Finance, 57, 101–115.  Google Scholar
  36. Lea, Michael J. (1999): Contractual savings for housing. How suitable are they for transitional economies? Policy Research Working Paper Series (1516), The World Bank. Washington, D. C.  Google Scholar
  37. Koesler, S. und M. Schymura (2015): Substitution elasticities in a constant elasticity of substitution framework. Empirical estimates using nonlinear least squares. Economic Systems Research, 27 (1), 101–121.  Google Scholar
  38. Issahaku, Haruna, Joshua Yindenaba Abor und Simon Kwadzogah Harvey (2017): Remittances, banks and stock markets. Panel evidence from developing countries. Research in International Business and Finance, 42, 1413–1427.  Google Scholar
  39. Hassan, Gazi M. und Mark J. Holmes (2016): Do remittances facilitate a sustainable current account? World Economy, 39 (11), 1834–1853.  Google Scholar
  40. Hashi, Iraj und Valentin Z. Toci (2010): Financing constraints, credit rationing and financing obstacles. Evidence from firm-level data in South-Eastern Europe. Economic and Business Review, 12 (1), 29–60.  Google Scholar
  41. Giuliano, Paola und Marta Ruiz-Arranz (2009): Remittances, financial development, and growth. Journal of Development Economics, 90 (1), 144–152.  Google Scholar
  42. El Hamma, Imad (2017): Linking remittances with financial development and institutions. A Study from selected MENA Countries. Topics in Middle Eastern and North African Economies, 19 (1), 113–135.  Google Scholar
  43. Demirguc-Kunt, Asli, Leora F. Klapper und Georgios A. Panos (2011): Entrepreneurship in post-conflict transition: The role of informality and access to finance. Economics of Transition, 19 (1), 27–78.  Google Scholar
  44. Correia, L. und P. Martins (2016): Are remittances an instrument of stabilization and funding in the Euro Area? Applied Economics Letters, 23 (16-18), 1177–1181.  Google Scholar
  45. Brücker, Herbert (2009): Labour mobility within the EU in the context of enlargement and the functioning of the transitional arrangements. Final Report. IAB, CMR, fRDB, GEP, WIFO, wiiw. Nürnberg.  Google Scholar
  46. Brown, Richard P.C. und Fabrizio Carmignani (2015): Revisiting the effects of remittances on bank credit. A macro perspective. Scottish Journal of Political Economy, 62 (5), 454–485.  Google Scholar
  47. Brown, Martin, Steven Ongena, Alexander Popov und Pinar Yesin (2011): Who needs credit and who gets credit in Eastern Europe? Economic Policy, (65), 93.  Google Scholar
  48. Bernini, Michele und Alberto Montagnoli (2017): Competition and financial constraints. A two-sided story. Journal of International Money and Finance, 70, 88–109.  Google Scholar
  49. Beck, Thorsten, Katie Kibuuka und Erwin R. Tiongson (2013): Mortgage finance in Central and Eastern Europe – opportunity or burden? In: Robert Cull, Asli Demirguc-Kunt und Jonathan Morduch (Hrsg.): Banking the World: Empirical foundations of financial inclusion. Cambridge/London, MIT Press, 305–389.  Google Scholar
  50. Bayar, Yilmaz (2015): Impact of remittances on the economic growth in the transitional economies of the European Union. Economic Insights: Trends and Challenges, 67 (3), 1–10.  Google Scholar
  51. Bang, James T., Aniruddha Mitra und Phanindra V. Wunnava (2015): Financial liberalization and remittances. Recent panel evidence. Journal of International Trade and Economic Development, 24 (7-8), 1077–1102.  Google Scholar
  52. Baas, Timo und Silvia Melzer (2012): The macroeconomic impact of remittances: A sending country perspective. Norface Discussion Paper Series (2012021).  Google Scholar
  53. Baas, Timo (2017): Fachkräftezuwanderung im Rahmen der EU-Binnenmobilität. In: Bertelsmann Stiftung (Hrsg.): Faire Fachkräftezuwanderung nach Deutschland. Grundlagen und Handlungsbedarf im Kontext eines Einwanderungsgesetzes. Gütersloh, Verlag der Bertelsmann Stiftung, 89–112.  Google Scholar
  54. Baas, Timo (2015): Migration. In: Norman Braun (Hrsg.): Handbuch Modellbildung und Simulation in den Sozialwissenschaften. Wiesbaden, Springer VS (Handbuch).  Google Scholar
  55. Ambrosius, Christian und Alfredo Cuecuecha (2016): Remittances and the use of formal and informal financial services. World Development, 77, 80–98.  Google Scholar
  56. Aizenman, Joshua und Michael M. Hutchison (2012): Exchange market pressure and absorption by international reserves: Emerging markets and fear of reserve loss during the 2008–2009 crisis. Journal of International Money and Finance, 31 (5), 1076–1091. DOI: 10.1016/j.jimonfin.2011.12.011.  Google Scholar
  57. Acosta, Pablo A., Emmanuel K. K. Lartey und Federico S. Mandelman (2009): Remittances and the Dutch disease. Journal of International Economics, 79 (1), 102–116.  Google Scholar
  58. Vandenbussche, Jerome, Ursula Voge und Enrica Detragiache (2015): Macroprudential policies and housing prices. A new database and empirical evidence for Central, Eastern, and Southeastern Europe. Journal of Money, Credit, and Banking, 47, 343–377.  Google Scholar
  59. Posso, Alberto (2015): Remittances and financial institutions. Is there a causal linkage? B. E. Journal of Macroeconomics, 15 (2), 769–789.  Google Scholar
  60. Saito, Mika (2004): Armington elasticities in intermediate inputs trade: A problem in using multilateral trade data. The Canadian Journal of Economics/Revue canadienne d’Economique, 37 (4), 1097–1117.  Google Scholar
  61. Roy, Friedemann (2008): Mortgage markets in Central and Eastern Europe – a review of past experiences and future perspectives. European Journal of Housing Policy, 8 (2), 133–160.  Google Scholar
  62. Statistisches Bundesamt (2015): Bevölkerung Deutschlands bis 2060 – 13. koordinierte Bevölkerungsvorausberechnung. Destatis, zuletzt geprüft am 5.6.2018.  Google Scholar
  63. Lim, Sokchea und A. K. M. Mahbub Morshed (2015): International migration, migrant stock, and remittances. Reexamining the motivations to remit. Quarterly Review of Economics and Finance, 57, 101–115.  Google Scholar
  64. Lea, Michael J. (1999): Contractual savings for housing. How suitable are they for transitional economies? Policy Research Working Paper Series (1516), The World Bank. Washington, D. C.  Google Scholar
  65. Koesler, S. und M. Schymura (2015): Substitution elasticities in a constant elasticity of substitution framework. Empirical estimates using nonlinear least squares. Economic Systems Research, 27 (1), 101–121.  Google Scholar
  66. Issahaku, Haruna, Joshua Yindenaba Abor und Simon Kwadzogah Harvey (2017): Remittances, banks and stock markets. Panel evidence from developing countries. Research in International Business and Finance, 42, 1413–1427.  Google Scholar
  67. Hassan, Gazi M. und Mark J. Holmes (2016): Do remittances facilitate a sustainable current account? World Economy, 39 (11), 1834–1853.  Google Scholar
  68. Hashi, Iraj und Valentin Z. Toci (2010): Financing constraints, credit rationing and financing obstacles. Evidence from firm-level data in South-Eastern Europe. Economic and Business Review, 12 (1), 29–60.  Google Scholar
  69. Giuliano, Paola und Marta Ruiz-Arranz (2009): Remittances, financial development, and growth. Journal of Development Economics, 90 (1), 144–152.  Google Scholar
  70. El Hamma, Imad (2017): Linking remittances with financial development and institutions. A Study from selected MENA Countries. Topics in Middle Eastern and North African Economies, 19 (1), 113–135.  Google Scholar
  71. Demirguc-Kunt, Asli, Leora F. Klapper und Georgios A. Panos (2011): Entrepreneurship in post-conflict transition: The role of informality and access to finance. Economics of Transition, 19 (1), 27–78.  Google Scholar
  72. Correia, L. und P. Martins (2016): Are remittances an instrument of stabilization and funding in the Euro Area? Applied Economics Letters, 23 (16-18), 1177–1181.  Google Scholar
  73. Brücker, Herbert (2009): Labour mobility within the EU in the context of enlargement and the functioning of the transitional arrangements. Final Report. IAB, CMR, fRDB, GEP, WIFO, wiiw. Nürnberg.  Google Scholar
  74. Brown, Richard P.C. und Fabrizio Carmignani (2015): Revisiting the effects of remittances on bank credit. A macro perspective. Scottish Journal of Political Economy, 62 (5), 454–485.  Google Scholar
  75. Brown, Martin, Steven Ongena, Alexander Popov und Pinar Yesin (2011): Who needs credit and who gets credit in Eastern Europe? Economic Policy, (65), 93.  Google Scholar
  76. Bernini, Michele und Alberto Montagnoli (2017): Competition and financial constraints. A two-sided story. Journal of International Money and Finance, 70, 88–109.  Google Scholar
  77. Beck, Thorsten, Katie Kibuuka und Erwin R. Tiongson (2013): Mortgage finance in Central and Eastern Europe – opportunity or burden? In: Robert Cull, Asli Demirguc-Kunt und Jonathan Morduch (Hrsg.): Banking the World: Empirical foundations of financial inclusion. Cambridge/London, MIT Press, 305–389.  Google Scholar
  78. Bayar, Yilmaz (2015): Impact of remittances on the economic growth in the transitional economies of the European Union. Economic Insights: Trends and Challenges, 67 (3), 1–10.  Google Scholar
  79. Bang, James T., Aniruddha Mitra und Phanindra V. Wunnava (2015): Financial liberalization and remittances. Recent panel evidence. Journal of International Trade and Economic Development, 24 (7-8), 1077–1102.  Google Scholar
  80. Baas, Timo und Silvia Melzer (2012): The macroeconomic impact of remittances: A sending country perspective. Norface Discussion Paper Series (2012021).  Google Scholar
  81. Baas, Timo (2017): Fachkräftezuwanderung im Rahmen der EU-Binnenmobilität. In: Bertelsmann Stiftung (Hrsg.): Faire Fachkräftezuwanderung nach Deutschland. Grundlagen und Handlungsbedarf im Kontext eines Einwanderungsgesetzes. Gütersloh, Verlag der Bertelsmann Stiftung, 89–112.  Google Scholar
  82. Baas, Timo (2015): Migration. In: Norman Braun (Hrsg.): Handbuch Modellbildung und Simulation in den Sozialwissenschaften. Wiesbaden, Springer VS (Handbuch).  Google Scholar
  83. Ambrosius, Christian und Alfredo Cuecuecha (2016): Remittances and the use of formal and informal financial services. World Development, 77, 80–98.  Google Scholar
  84. Aizenman, Joshua und Michael M. Hutchison (2012): Exchange market pressure and absorption by international reserves: Emerging markets and fear of reserve loss during the 2008–2009 crisis. Journal of International Money and Finance, 31 (5), 1076–1091. DOI: 10.1016/j.jimonfin.2011.12.011.  Google Scholar

Abstract

Remittances from migrants in Germany to their home countries increased sharply in the last years. Families abroad use these financial flows to overcome credit constraints ether to finance self-employment or for housing. As migration from countries with credit constraints increases, remittances are about to rise further. In a dynamic general equilibrium model, we show that these expected remittances flows have two effects on the German economy. We see an increase in those branches of the economy that export a high share of their production, and we see a reduction in consumption. Labor demand in the export industry is rising, while labor intense services tend to suffer.

Table of Contents

Section Title Page Action Price
Timo Baas: Rücküberweisungen durch Migrantinnen und Migranten – Finanzmarktbezogene Gründe und wirtschaftliche Folgen 1
Zusammenfassung 1
Summary 1
1 Einleitung 2
2 Modell 4
3 Haushalte 5
4 Kalibrierung des Modells 8
5 Daten 8
6 Ergebnisse 9
7 Zusammenfassung und Ausblick 1
Literaturverzeichnis 1

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