Migration and Foreign Remittances in the Philippines

International migration and large remittance flows have been prominent features of the Philippine economy for many decades. This paper describes the evolving pattern of migration and remittance flows and analyzes some of the channels through which remittances affect economic activity. The empirical evidence does not clearly support the purported short-term stabilizing effect on consumption of remittance flows. Furthermore, as in other countries, the longer term economic effect of such flows is ambiguous.Migration;Workers remittances;Economic growth;remittances, remittance, remittance flows, equation, survey, impact of remittances, correlation, correlations, estimation of equation, statistics, economic impact of remittances, diaspora, growth rate of remittances, equations, worker remittances, instrumental variables, growth of remittances, instrumental variable, capital flows, determinants of remittance, net remittance, impact of remittances on growth, remittances of migrants, recipient of remittances, changes in remittance flows, migrant, remittance use, remittance inflows, role of remittances, immigrant remittance, impact of remittance, migration remittances, determinants of remittances, dollar remittances, foreign remittances, remittance channels, standard deviation