Immigration and economic resilience in the Great Recession

摘要

The 2007–2009 financial crisis has caused economic disruption in many US cities and has drawn considerable academic attention. Despite abundant evidence of immigrants’ economic and social value to urban areas, little research has examined the relationship between immigration and resilience. This article investigates whether immigration enhanced economic resilience to the Great Recession for metropolitan areas in the US. It uses ordinary least squares and instrumental variable regressions to test the immigration effects between 2007 and 2014. The findings indicate that immigration leads to employment and income resilience. On average, metropolitan areas with a larger immigrant population tended to better preserve their growth paths during the Great Recession and to experience greater levels of employment and per capita income growth following the recession.