The Economic Impact of Migration and International Remittances: Evidence from the Philippines

This dissertation investigates the resilience of remittance flows in the Philippines in the face of exogenous shocks, specifically the Global Financial Crisis (GFC) and the Covid-19 pandemic. By analyzing their impact on household consumption, the study aims to provide a comprehensive understanding of whether remittance flows were disrupted by these events. Findings reveal that the GFC exacerbated challenges, resulting in reduced remittance inflows due to shifts in global demand. However, the Philippines exhibited resilience, largely attributed to its service sector, with remittance inflows rebounding by 2009. Nevertheless, migrant workers experienced retrenchment and salary reductions. During the Covid-19 pandemic, remittance levels remained relatively stable in 2020, facilitated by diverse overseas Filipino workers. Future research could delve into the factors influencing remittance behavior during crises and compare resilience across different regions.