Remittance Investment Climate Analysis: Ascertaining the Local Development Potential of Overseas Remittances in Philippine Rural Hometowns

• Main Authors: Opiniano, Jeremaiah M., Ang, Alvin P.
• Format: text
• Published: Archīum Ateneo 2024
• Subjects: hometown investing; migration and development; mixed methods; overseas remittances; Philippines; remittance investment climate analysis in rural hometowns; Economics; Social and Behavioral Sciences
• Online Access: https://archium.ateneo.edu/economics-faculty-pubs/233; https://doi.org/10.1177/01171968241288259
• Institution: Ateneo De Manila University

This paper analyzed the potential of remittances in developing the rural hometowns of migrants and their families. Researchers employed a mixed methods tool, the Remittance Investment Climate Analysis in Rural Hometowns (RICART), for over eight years in six municipalities in the Philippines. We found that there is no common trend among municipalities that combining a sound investment climate, an ample number of financial institutions, high levels of residents’ financial literacy and an active program for migrants and their families all ensure remittances-induced hometown investing. Improving rural residents’ financial knowledge and instituting investment climate reforms may help direct remittances to local development.