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Esteban Callejas, ECARES Print
Friday, 09 November 2018, 12:15 - 13:15

Esteban Callejas, ECARES

"What for Nike shoes if there is no home ..."
Do Remittances Affect Housing Prices in an Emerging Economy? A Study Case for Colombia

Abstract : Remittances amounts on average as two thirds of the FDI inflows of emerging economies. Literature on development and remittances coincides on the fact that when remittances are used as an investment, this investment generally materializes as housing. This work in progress proposes to fill a gap in the literature on remittances and development by studying what is the relation between remittances and housing prices at the aggregate level. This is done by regressing remittances against housing prices and housing approvals taking the Colombian economy as a case of study. The conclusions from the empirical analysis, suggest that remittances seem to increase the relative supply of housing which in turn reduces housing prices. 

Location: R42.2.113
Contact: Nancy De Munck, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it