Does Remittance Outflow Stimulate or Retard Economic Growth?

Khan, Khalid; Su, Chi‐Wei; Tao, Ran; Yang, Lin

doi:10.1111/imig.12615

Cited by 21 publications

(18 citation statements)

References 42 publications

(69 reference statements)

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“…However, the existing literature presents a variety of findings regarding the relationship between economic growth, corruption control, employer assistance and remittance outflows. Some studies, such as Haruna and Abu Bakar (2020), Khan et al (2019) and Snudden (2019), support the notion that economic growth, control on corruption and availability of employer's help contribute to an increase in remittance outflows. Contrary to the aforementioned assertion, a separate body of research conducted by Ajide and Olayiwola (2020) as well as Alharbi (2022) challenges this claims.…”

Section: Governancementioning

confidence: 99%

Economic and governance drivers of global remittances: a comparative study of the UK, US, and UAE to India

Khan

2024

JFEP

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Purpose The paper aims to analyse the impact of economic and governance factors on remittance inflows to India from the UK, USA and UAE. India is globally recognised as the largest recipient of remittances. Design/methodology/approach Using a comprehensive time series data set spanning 1996 to 2022, the authors use an innovative non-linear autoregressive distributed lag model approach to examine the influence of economic growth, corruption control and employer availability in the three source countries on remittance inflows to India. Findings The results indicate that in the UAE, changes in economic growth and corruption control directly affect remittance outflows. However, the presence of employers in the UAE has minimal impact on remittance outflows to India. Regarding the UK, fluctuations in economic growth primarily drive remittance outflows to India. The effect of corruption control and employment opportunities on remittance outflows is marginal. In the USA, economic growth does not notably impact remittance outflows, whereas corruption control and employment opportunities significantly influence the outflows to India. Originality/value These findings have important implications for policymakers. Analysing macroeconomic factors from key remittance-sending nations offers valuable insights for Indian policymakers and their international counterparts to enhance remittance inflows. The study focuses on three countries that collectively contribute to about 50% of India's remittances, providing a unique contribution compared to the usual country-specific or regional focus in existing literature. Finally, leveraging these findings, NITI Aayog, an organisation dedicated to achieving India's sustainable development goals, can effectively monitor macroeconomic indicators related to significant remittance-sending countries.

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Section: Governancementioning

confidence: 99%

Economic and governance drivers of global remittances: a comparative study of the UK, US, and UAE to India

Khan

2024

JFEP

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“…Termos, Naufal, and Genc (2013), Alkhathlan (2013), and Malit Jr. and Naufal (2016) argued that the outflows reduce financial resources that would otherwise be used for domestic consumption and investment, ultimately reducing economic growth. On the positive side, outflows may reduce inflation and promote real economic growth and employment (Hathroubi and Aloui 2016;Khan et al 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Economic and Political Drivers of Remittance Transfer

Al-Shammari

Faras

Alshuwaiee

2022

South East European Journal of Economics and Business

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This paper explores the political and economic determinants of remittance transfers by foreign workers in hosting countries with an application to the case of the Gulf Cooperation Council (GCC) countries. Our empirical model is estimated with the fixed-effects technique applied on annual data covering the period 1996-2019. The main result confirms that both the economic and political stability do matter to remittance transfers. First, our findings suggest that higher per capita growth across the GCC region tends to discourage remittance transfers. Second, we find a statistically significant and positive relationship between oil prices and remittance transfers. Third, our findings show that political stability across the host countries can shape remittances. Put it simply, higher political stability tends to induce lower remittance outflows. While conventional findings on importance of economic factors for remittances are confirmed, this research signifies that any change in political stability across the GCC might affect decisions made by foreign workers. This finding has general implications for similar regions throughout the world suggesting that political stability has a strong effect on the flow of remittances.

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“…Furthermore, unit root and cointegration testing are not required because the findings of these tests might be inconsistent (Kónya 2004 ). It can assess if there is unidirectional, bidirectional, or no Granger causation among as many panel members as possible (Khan et al 2019 ). Granger causality states that knowledge from a past period of one time series (X) aids in the predicting of a subsequent time series (Y) (Granger 1969 ).…”

Section: Introductionmentioning

confidence: 99%

Does technology innovation complement the renewable energy transition?

Khan

2022

Environ Sci Pollut Res

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The study assesses the relationship between technology innovation and renewable energy in the G10 countries. According to the findings, technology innovation has a significant impact on renewable energy in various countries, including Germany, the Netherlands, Sweden, the UK, and the USA. It argues that technological innovation is one of the most important elements in renewable energy in these countries because of their strong innovative base and huge spending on research and development. However, the results for the remaining countries show no causation from technology innovation to renewable energy, implying that variables other than technology innovation drive renewable energy development. On the other hand, renewable energy does Granger cause technology innovation in Germany, the Netherlands, and the USA. These countries need to invest in implementation instead of spending on the existing infrastructure. Furthermore, the increased dependence on fossil fuels and nuclear energy may leave renewables undeveloped, with less emphasis on renewable-technology diffusion.

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Does Remittance Outflow Stimulate or Retard Economic Growth?

Cited by 21 publications

References 42 publications

Economic and governance drivers of global remittances: a comparative study of the UK, US, and UAE to India

Economic and governance drivers of global remittances: a comparative study of the UK, US, and UAE to India

Economic and Political Drivers of Remittance Transfer

Does technology innovation complement the renewable energy transition?

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