Do remittances promote economic growth in the Caribbean Community and Common Market?

Lim, Sokchea; Simmons, Walter O.

doi:10.1016/j.jeconbus.2014.09.001

Cited by 59 publications

(45 citation statements)

References 17 publications

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“…Most of the studies generally have found that remittances had a positive impact on economic growth (Pradhan, Upadhyay, & Upadhyaya, 2008;Giuliano & Ruiz-Arranz, 2009;Fayissa & Nsiah, 2010;Nyamongo, Misatib, Kipyegonb, & Ndirangua, 2012;Imai, Gaiha, Ali, & Kaicker, 2014;and Nwaogu & Ryan, 2015). However, relatively few of these studies have found that there was no significant relationship between remittances and economic growth (Barajas, Chami, Fullenkamp, Gapen, & Montiel, 2009;Jouini, 2015;and Lim & Simmons, 2015). Khalid, Rabi, & Walliullah (2011) examined the remittances and financial development relationship with GDP growth in Pakistan using the annual data from 1973 to 2010.…”

Section: Prior Literaturementioning

confidence: 99%

Do financial development and personal remittances matter in South African economic growth? A bound testing investigation

Olerawaju

Akinola

Yearwood

2018

BEH

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Do financial development and personal remittances matter in South African economic growth? | BEH: www.beh.pradec.eu -954 -Abstract: This study explores the relationship amongst financial development, remittances and the economic growth of South Africa using quarterly data spanning the period 1995Q01 to 2015Q04. The study used Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) techniques for the unit root test and the variables were found to be stationary at level and at first difference. Findings from the Autoregressive Distributed Lag (ARDL) bound testing approach to co-integration revealed that a long-run relationship exists amongst these variables. Also, the Error Correction Model (ECM) showed that it required a 36% quarterly speed for maladjustment in the model to return equilibrium. This study concluded that the financial development sector should be improved to engender sufficient and adequate performance that would led to an effective impact of a long-run GDP growth. An increase in the gross capital formation that could lead to a long-run decrease in GDP growth should be avoided. Policy makers should formulate policies that could improve financial development in order to enhance the country's economy to reap the potential gain of remittance which could enhance economic growth.JEL Classifications: G18, F43, F65, C32, O16

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Section: Prior Literaturementioning

confidence: 99%

Do financial development and personal remittances matter in South African economic growth? A bound testing investigation

Olerawaju

Akinola

Yearwood

2018

BEH

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“…Despite the existence of extensive literature on the remittance-poverty nexus, the associated results are far from being conclusive. Some studies found remittance to support economic growth (Lim and Simmons 2015;Meyer and Shera 2017;Makun 2018), while other studies found remittance to have an insignificant impact (Adam and Klobodu 2016). Among the studies that investigated the impact of remittance on poverty, some found remittance to reduce poverty (see Adam and Page 2005;Adam and Cuecuacha 2013;Vacaflores 2018).…”

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confidence: 99%

THE impact of remittance inflows on poverty in Botswana: an ARDL approach

Musakwa

Odhiambo

2019

Economic Structures

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The growing need to find a solution to poverty alleviation has resulted in heightened interest from researchers to find the most important economic variable that could serve as a panacea to poverty alleviation. Consequently, the surge in remittance inflows globally, in general, and in low and middle-income countries, in particular, has ignited studies focused on the establishment of the nature of the relationship between remittance and poverty. According to Migration Policy Institute (2019), the global monetary transfers from migrants reached $689 billion in 2018 with remittance inflows to low and middle-income countries, taking 77% of the global transfer. The monetary transfers to low and middle-income countries are expected to grow by $21 billion in 2019 and projected to reach $550 billion (Migration Policy Institute 2019). Remittance has grown to be an important source of foreign income besides foreign direct investment and official development assistance (ODA) (Ratha et al. 2018).

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“…(2012), Kumar et al. (), Kumar (), Lartey (), Kumar (), Kumar and Stauvermann (,b), Jouini (), Lim and Simmons (); Rao and Takirua ().…”

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confidence: 99%

The Effect of Remittances on Economic Growth in Kyrgyzstan and Macedonia: Accounting for Financial Development

Kumar

Stauvermann

Patel

et al. 2017

International Migration

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Kyrgyzstan and Macedonia have experienced a reasonable increase in remittances over the last twenty-five years. Subsequently, the extent to which remittances can be instrumental for economic development of the two countries has gained serious attention in recent development dialogues. The aim of this study is to examine the impact of remittances versus financial development on the economic growth of the two counties, complementing the burgeoning interest and focus on remittances for policy. The short-run and the long-run effects and the causality dynamics of remittances and financial development, are explored. The results show a long-run positive impact of remittances on the economic growth of these countries. The impact of financial development is negative, significant only for Kyrgyzstan and not statistically significant for Macedonia. The causality results show that remittances support economic growth for Kyrgyzstan, whereas economic growth appears to propel remittances for Macedonia.

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Do remittances promote economic growth in the Caribbean Community and Common Market?

Cited by 59 publications

References 17 publications

Do financial development and personal remittances matter in South African economic growth? A bound testing investigation

Do financial development and personal remittances matter in South African economic growth? A bound testing investigation

THE impact of remittance inflows on poverty in Botswana: an ARDL approach

The Effect of Remittances on Economic Growth in Kyrgyzstan and Macedonia: Accounting for Financial Development

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