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Kiel Institute for World Economics Kiel Working Papers, Kiel Institute for World Economics

No 1840:
Does Migration Raise Agricultural Investment? An Empirical Analysis for Rural Mexico

Marcus Böhme

Abstract: The effect of remittances on capital accumulation remains a contested topic. This paper uses a panel data set from rural Mexico to investigate the impact of remittances on agriculture and livestock investments. After controlling for the endogeneity of migration through an instrumental variable estimation our empirical results show that international migration has a significantly positive effect on the accumulated agricultural assets but not on livestock capital. This suggests that households use the capital obtained from international migration only to overcome liquidity constraints for subsistence production whereas migration itself seems to be the superior investment option compared to other productive activities such as livestock husbandry

Keywords: migration, investment, Mexico, agriculture; (follow links to similar papers)

JEL-Codes: D1,; J6,; O1; (follow links to similar papers)

31 pages, May 2013

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