LATEST PUBLICATIONS
AR-2014
2014 ILS Performance and Accountability Report
AR-2015
2015 ILS Performance and Accountability Report
AR-2016
2016 ILS Performance and Accountability Report
AR-2017
2017 ILS Performance and Accountability Report

LATEST AV MATERIALS
Publication Detail
ADB 2009-09: The Global Crisis and the Impact on Remittances to Developing Asia (no. 185)

Remittances to Asia plunged during the 1997 Asian financial crisis, but the drop was temporary as the flows were increasing once again after just 1 year. The current crisis, however, is fundamentally different in that even the countries that send remittances have been adversely affected. The global nature of this crisis raises several questions such as whether it will also last for a short time or developing Asia should prepare for a long period of remittance stagnation. This study examines remittances data to several Asian countries to shed light on such issues. The results suggest that while remittance flows to key recipients in the region have slowed down in the current year, there has not been a sharp drop. Furthermore, there is no indication that the remittance flows will slow down further, suggesting that the flows should be back on a higher growth path in a few years. It is unlikely, however, to see the same growth rates of the past, given that an important share of that growth during the last two decades was due to better recording of remittances and an increased use of wire transfers on the part of migrants.

Asian Development Bank
Authors Keywords
Jha, Shikha; Sugiyarto, Guntur; Vargas-Silva, Carlos; remittances; Philippines; global crisis; Asia;
Download PDF Number of Downloads
Published in 2009 and available in the ADB Library or Downloaded 13,433 times since November 25, 2011
×
Please let us know your reason for downloading this publication. May we also ask you to provide additional information that will help us serve you better? Rest assured that your answers will not be shared with any outside parties. It will take you only two minutes to complete the survey. Thank you.


To use as reference:
If others, (Please specify):
Name: (optional)
Email: (required, but will not display)
Age:
Gender:
If Prefer to self-describe, please specify:
Level of Education:
Occupation:
If employed either part-time or full-time, name of office:
If others, (Please specify):
Would you like to receive the SERP-P UPDATES e-newsletter? Yes No
Use the space below if you have any comment about this publication or SERP-P knowledge resources in general.