Do remittances spur economic growth? Evidence from developing countries

Eggoh, Jude; Bangaké, Chrysost; Semedo, Gervasio

doi:10.1080/09638199.2019.1568522

Cited by 60 publications

(29 citation statements)

References 37 publications

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“…It was also affirmed that the crucial role of remittances in global entrepreneurial pursuits (Kim & Li, 2014;Lin & Yang, 2017;Vaaler, 2011). Furthermore, the study outcome corresponded to existing works of literature on the flow of remittances transferred by migrants and the increase in transnational migrants residing outside the COO (Azizi, 2018;Eggo et al, 2019). The findings were also in line with present studies on remittances despite the exorbitant fees related to sending an average of $200 to the migrants' COO (World Bank, 2017).…”

Section: Evaluation Of the Findingssupporting

confidence: 89%

“…The TE concept was established based on the opportunities presented to migrants and the immediate social setting as a positive from of globalization (Dunning, 2005). For example, transnational entrepreneurs involved financial and non-financial resources, such as employment opportunities for the economic and social development of COO (Riddle, Hrivnak & Nielsen, 2010).…”

Section: Introductionmentioning

confidence: 99%

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Incubating Transnational Entrepreneurial Ventures in the ASEAN-X Group: A Quantitative Study

Luea¹

2020

J ENTREP BUS

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This study aims to contribute to the extensive literature on transnational entrepreneurship by investigating the relationship between seven categorical independent variables (IVs) and a dichotomous dependent variable within the ASEAN-X group. Specifically, a large dataset from the World Bank, OECD, InBIA, and Southeast Asia Ecosystem Report provided a sample of N = 967. A binary logistic regression model was used to analyze the study questions and hypotheses following the Transnational Entrepreneurship (TE) theory. The modelling results reported that the remittances measured by total transaction costs (WaldX2 = 22.49, df = 5, p < .001), entrepreneurs’ age (WaldX2 = 11.78, df = 4, p =.019), entrepreneurs’ education (WaldX2 = 48.33, df = 3, p < .001), and business incubators’ ownership or status (WaldX2 = 14.97, df = 2, p = .001) potentially gauged the success of startup businesses. Future studies should also emphasize the implications of phenomenon-based research in business and society to identify specific theories based on the lived experiences.

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Section: Evaluation Of the Findingssupporting

confidence: 89%

Section: Introductionmentioning

confidence: 99%

Incubating Transnational Entrepreneurial Ventures in the ASEAN-X Group: A Quantitative Study

Luea¹

2020

J ENTREP BUS

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“…Remittances have a positive impact on economic growth [40][41][42][43][44][45] and on the credit rating of a country, providing an important and stable source of foreign currency that can reduce panic for investors; it can cope with the crisis of balance of payments and can be used for development projects [46].…”

Section: Literature Reviewmentioning

confidence: 99%

“…Different regression models have been used frequently, on groups of states or on individual states, obtaining different results. For instance, using the Panel Smooth Transition Regression model on a sample of 49 developing states, remittances were found to have a positive impact on the level of economic development [45]. By applying the generalized moments method on a panel of 100 developing countries, remittances have been shown to contribute to GDP growth in the countries analyzed [31].…”

Section: Estimation Of Evolution By Means Of Polynomial-time Regressionmentioning

confidence: 99%

Remittances, Migration and Gross Domestic Product from Romania’s Perspective

2019

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This study analyzes the evolution and trends of the share of remittances in gross domestic product (GDP) and the influence of migration on remittances in Romania. The analysis on data from Eurostat over 2008–2017 has three components: a statistical analysis, an estimation of evolution of indicators, and an estimation of impact of migration on remittances, using polynomial-time regression and difference equation models, respectively. The results showed that GDP and GDP/capita had a permanent increase, meaning an improvement in the standard of living in Romania, while the other indicators had an evolution with a period of sharp decline triggered by the global crisis, followed by a slow growth. We may conclude that the remittances represented and still represent a relatively stable financial resource for Romania as for the other emerging countries in Europe, affecting in a positive way the standard of living of the citizens, although their value has a tendency to decrease. At the same time, the negative effects of remittances, dependence on money received from migrants and the exodus of “brains” and skilled workers, must be considered, implying the necessity of government policies for a better use of remittances, i.e., mainly for investments and less for consumption.

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“…Remittance inflows to Sub-Saharan Africa as a share of GDP have increased from 0.9 percent in 1994 to 1.6 percent in 2004 and reached 2.3 percent in 2014. This growing trend in inflow of remittances has caught great interest of academic scholars and policymakers, and stimulated a large body of empirical studies examining their impact on various aspects of development, including poverty, inequality, education, health and economic growth [1]- [13]. Another strand of the economic literature has been devoted to investigating the relationship between remittances and financial development.…”

Section: Introductionmentioning

confidence: 99%

Impact of Remittances on Financial Development: Revisiting the Evidence for ECOWAS Countries

Keho¹

2020

TEL

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This study examines the impact of remittances on financial development in selected West African countries over the period from 1980 to 2017. Contrary to previous panel studies which relied on standard panel estimators, it uses an estimation method which controls both parameter heterogeneity and cross-section dependence among countries. Remittance inflows were found to reduce domestic credit to private sector whereas they contribute to increasing money supply in the long run. Country-level results reveal, however, considerable heterogeneity across countries.

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Do remittances spur economic growth? Evidence from developing countries

Cited by 60 publications

References 37 publications

Incubating Transnational Entrepreneurial Ventures in the ASEAN-X Group: A Quantitative Study

Incubating Transnational Entrepreneurial Ventures in the ASEAN-X Group: A Quantitative Study

Remittances, Migration and Gross Domestic Product from Romania’s Perspective

Impact of Remittances on Financial Development: Revisiting the Evidence for ECOWAS Countries

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