Financing the Family : Remittances to Central America in a Time of Crisis

Interest in learning how to make the most of the potential developmental benefits of remittance flows has grown worldwide. Financing the Family adds to that body of knowledge with a summary of recent research that emphasizes experimental approaches, focuses on Central America, and analyzes the impact of the recent financial crisis. Interest in learning how to make the most of the potential developmental benefits of remittance flows has grown worldwide, but few attempts have been made to summarize existing knowledge in a way that is easy to digest. Financing the Family adds to that body of knowledge with a summary of recent research that emphasizes experimental approaches, focuses on Central America, and analyzes the impact of the recent financial crisis. It finds that while remittances generate many benefits for both migrants and their families back home, the long-term effects of migration on social cohesion and child welfare demands further study. The book also explores how to enhance the development impact of remittances through innovative financial instruments that give migrants greater control over the money they send home. Finally, the book exposes the vulnerability of Central American countries to a weaker U.S. economy. It demonstrates how focusing on the sectors and states where migrants are concentrated can allow for better policy responses in the face of economic downturns Front Matter....Pages i-xx Remittances to Central America: A Link Back Home....Pages 1-17 Migration, Remittances, and Economic Development: A Literature Review....Pages 19-46 Enhancing the Impact of Remittances on Development: New Evidence from Experiments among Migrants from El Salvador....Pages 47-70 US Migrant Employment and Remittances to Central America: A Cointegration Approach....Pages 71-111 Remittances and Poverty during an Economic Crisis: Honduras and El Salvador....Pages 113-141 Measuring the Impact of the US Financial Crisis on Salvadoran Migrants and Family Remittances....Pages 143-164 Back Matter....Pages 165-191