When overseas Filipino workers send home their hard-earned money to loved ones, one will think that the money will immediately help fuel the local economy where their families live. To confirm this thinking, an eight-year study was conducted by migration specialists Prof. Jeremaiah M. Opiniano, PhD (Department of Journalism and Research Center for Social Sciences and Education) and former UST Department of Economics Professor and alumnus Alvin P. Ang, PhD (now with Ateneo de Manila University).
Using the mixed methods tool “Remittance Investment Climate Analysis in Rural Hometowns,” the researchers found that across the six municipalities, there was no common trend “among municipalities that combining a sound investment climate, an ample number of financial institutions, high levels of residents’ financial literacy, and an active program for migrants and their families all ensure remittances-induced hometown investing.” The researchers called for instituting investment climate reforms to help ensure that remittances will fuel local development.
The paper, published in the Asian and Pacific Migration Journal in 2024, was recognized in the 2025 National Academy of Science and Technology awards with the Outstanding Scientific Paper Award.
