Impact of Remittances on Economic Growth: Empirical Evidence from South-East European Countries

V. Bucevska
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引用次数: 9

Abstract

Abstract South-East European (SEE) countries are experiencing high emigration, resulting in a significant increase in remittance inflows, exceeding FDI flows. Today the most important challenge facing SEE countries is how to grow at a higher speed to achieve faster economic convergence with the EU. The objective of the paper is to empirically examine the relevance of remittances as a factor of economic growth, using quarterly balanced panel data set of six SEE countries: Albania, Bosnia and Herzegovina, Croatia, Montenegro, the Republic of North Macedonia, and Serbia (SEE6) over 2008q1-2020q2. Panel regression with the fixed-effects model is employed to account for potential cross-section heterogeneity. This study provides original econometric evidence that remittances have a significant positive impact on economic growth in our panel of SEE6. Those results will be useful both to scholars and policymakers in the process of the creation of policies that will direct remittances into investments in the economy.
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汇款对经济增长的影响:来自东南欧国家的经验证据
摘要东南欧国家正在经历大量移民,导致汇款流入大幅增加,超过了外国直接投资流量。如今,东南欧国家面临的最重要挑战是如何以更高的速度增长,以实现与欧盟更快的经济融合。本文的目的是利用2008年第一季度至2020年第二季度六个东南欧国家(阿尔巴尼亚、波斯尼亚和黑塞哥维那、克罗地亚、黑山、北马其顿共和国和塞尔维亚)的季度平衡面板数据集,实证检验汇款作为经济增长因素的相关性。采用具有固定效应模型的面板回归来解释潜在的横截面异质性。这项研究提供了原始的计量经济学证据,证明汇款对SEE6小组的经济增长有重大的积极影响。在制定将汇款直接用于经济投资的政策的过程中,这些结果将对学者和政策制定者都有用。
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来源期刊
CiteScore
2.30
自引率
10.00%
发文量
0
审稿时长
13 weeks
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