Does migration raise agricultural investment? An empirical analysis for rural Mexico
利用墨西哥农村面板数据，通过工具变量法控制内生性，发现国际移民显著增加农业资产积累，但对牲畜资本无显著影响，表明移民收入主要用于缓解流动性约束以维持生计生产。
The effect of remittances on capital accumulation remains a contested topic. This article 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.