Assessing Remittances Dynamics to Kenya During the COVID-19 Pandemic Period (2020)
摘要
The onset of COVID-19 pandemic in most parts of the World in January 2020 triggered widespread fears of global economic meltdown that would irreparably reverse economic and social gains that have been made in developing countries. Among such concern were loss of jobs by migrant communities especially in the developed countries, the restriction on human mobility, and how these would affect diaspora remittances to developing countries. While some of these fears turned out to be true, the expected drastic reduction of volumes of remittances sent by diaspora did not happen uniformly. In certain cases, remittances received recorded marginal increases. Using data from the banking sector in Kenya, this article demonstrates that remittances actually increased in 2020. With help of previous literature on remittances and theoretical arguments this article attempts to offer the possible explanations why this is the case. While it might be premature to generalize, it is argued that a combination of factors made this possible including the sectors where migrant population is employed and the level of skills such migrants have.