The Great Recession 2007-2009 and the Impact on Remittances in Mexico

Abstract

This paper examines the evolution of remittances for the period 2000-2017 in the light of the great economic recession that occurred at the end of 2007 and which, according to the United States Department of Statistics, lasted until June 2009, its repercussions in relation to employment of Mexicans in the United States and in the sending of remittances to Mexico; the importance of remittances, even in times of economic contraction, as a source of foreign currency at the national, state, regional and municipal levels. Remittances reduce the negative impacts on other sources of foreign currency in economic contraction and are a temporary relief in the reduction of poverty, but generate vulnerability to fluctuations.