Otwarty dostęp

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


Zacytuj

Ali, A. and Rehman, H. U. 2015. Macroeconomic Instability and Its Impact on Gross Domestic Product: An Empirical Analysis of Pakistan. MPRA Paper 82496, University Library of Munich, Germany. Search in Google Scholar

Amuedo-Dorantes, C. 2014. The good and the bad in remittance flows. IZA World of Labor: 1-97.10.15185/izawol.97 Search in Google Scholar

Bangake, C., Eggoh, J. and Semedo, G. 2019. Do Remittances Spur Economic Growth? Evidence from Developing Countries. The Journal of International Trade and Economic Development 28 (4): 391-418.10.1080/09638199.2019.1568522 Search in Google Scholar

Bank of Albania 2021. https://www.bankofalbania.org (accessed May 19, 2021). Search in Google Scholar

Barro, R. J. 1995. Inflation and Economic Growth. NBER Working Papers 5326, National Bureau of Economic Research, Inc.10.3386/w5326 Search in Google Scholar

Barro, R. J. and Sala-i-Martin, X. 1992. Convergence. Journal of Political Economy, C: 223–251. Search in Google Scholar

Barajas, A., Chami, R., Fullenkamp, C., Gapen, M., and Montiel, P. 2009. Do workers’ remittances promote economic growth? (Working Paper, WP/09/153). Washington, DC: International Monetary Fund.10.5089/9781451873009.001 Search in Google Scholar

Batu, M. 2017. International worker remittances and economic growth in a Real Business Cycle framework. Structural Change and Economic Dynamics 40 (C): 81–91. https://doi:10.1016/j.strueco.2016.12.004.10.1016/j.strueco.2016.12.004 Search in Google Scholar

Bermejo-Carbonell, J. and Werner, R. A. 2018. Does foreign direct investment generate economic growth? A new empirical approach applied to Spain. Economic Geography: 1–32.10.1080/00130095.2017.1393312 Search in Google Scholar

Central Bank of Bosnia and Herzegovina 2021. Statistics web portal CBBH. https://www.cbbh.ba/content/read/915 (accessed May 19 2021). Search in Google Scholar

Central Bank of Montenegro 2021. https://www.cbcg.me/en/statistics (accessed May 18, 2021). Search in Google Scholar

Chami, R., Fullenkamp, C. and Jahjah, S. 2005. Are Immigrant Remittance Flows a Source of Capital for Development? IMF Staff Papers 52 (1). Search in Google Scholar

Chang, R., Kaltani, L. and Loayza, N. 2005. Openness Can be Good for Growth: The Role of Policy Complementarities. DEGIT, Dynamics, Economic Growth, and International Trade, DEGIT Conference Papers.10.3386/w11787 Search in Google Scholar

Chirila, V. and Chirila, C. 2017. The analysis of Romania’s external migration and of the causality between remittances and Romania’s economic growth. Amfiteatru Economic 19 (46): 696–710. Search in Google Scholar

Cismaş, L., Curea-Pitorac, R. I. and Vădăsan, I. 2020. The impact of remittances on the receiving country: Some evidence from Romania in European context. Economic research Ekonomska Istrazivanja 33 (1): 1073–1070. https://doi.org/10.1080/1331677X.2019.1629328 Search in Google Scholar

Clemens, M., and McKenzie, D. 2018. Why Don’t Remittances Appear to Affect Growth? The Economic Journal 128 (612): 179-209.10.1111/ecoj.12463 Search in Google Scholar

Cooray, A. V. 2012. The impact of migrant remittances on economic growth: Evidence from South Asia. Review of International Economics 20 (5): 985-998.10.1111/roie.12008 Search in Google Scholar

Croatian National Bank 2021. http://www.hnb.hr/statistika/estatistika.htm (accessed May 18, 2021). Search in Google Scholar

DeLong, J. B. and Summers, L. H. 1992. Equipment Investment and Economic Growth: How Strong Is the Nexus? Brookings Papers on Economic Activity 23 (2): 157-212.10.2307/2534583 Search in Google Scholar

Dinh, T. T.-H., Vo, D. H., and Nguyen, T. C. 2019. Foreign direct investment and economic growth in the short run and long run: Empirical evidence from developing countries. Journal of Risk and Financial Management 12 (4): 176. https://doi.org/10.3390/jrfm12040176 Search in Google Scholar

Eurostat 2021. Eurostat database. https://ec.europa.eu/eurostat/data/database (accessed May 17, 2021). Search in Google Scholar

Fisher, S. 1993. The Role of Macroeconomic Factors in Growth. Journal of Monetary Economics 32: 485-512.10.1016/0304-3932(93)90027-D Search in Google Scholar

Ghosh, A. and Phillips, S. 1998. Warning: Inflation May Be Harmful to Your Growth. IMF Staff Papers 45 (4): 672-710.10.2307/3867589 Search in Google Scholar

Goschin, Z. 2014. Remittances as an Economic Development Factor: Empirical Evidence from the CEE Countries. Procedia Economics and Finance 10: 54-60.10.1016/S2212-5671(14)00277-9 Search in Google Scholar

Haller, A., Butnaru, R. and Butnaru, G. I. 2018. International Migrant Remittances in the Context of Economic and Social Sustainable Development. A Comparative Study of Romania-Bulgaria. Sustainability 10 (1156). https://doi.org/10.3390/su10041156 Search in Google Scholar

Huchet, M., Le Mouël, C. and Vijil, M. 2018. The relationship between trade openness and economic growth: Some new insights on the openness measurement issue. The World Economy 41 (1): 59-76.10.1111/twec.12586 Search in Google Scholar

Giuliano, P. and Ruiz-Arranz, M. 2009. Remittances, Financial Development, and Growth. Journal of Development Economics 90 (1): 144–152.10.1016/j.jdeveco.2008.10.005 Search in Google Scholar

de Haas, H., Czaika, M., Flahaux, M.-L., Mahendra, E., Natter, K., Vezzoli, S. and Villares-Varela, M. 2019. International migration: Trends, determinants, and policy effects. Population and Development Review 45 (4): 885–922. https://doi.org/10.1111/padr.12291 Search in Google Scholar

International Monetary Fund 2013. Sixth Edition of the IMF’s Balance of Payments and International Investment Position Manual (BPM6). Search in Google Scholar

Ismihan, M., Metin-Ozcan, K. and Tansel, A. 2010. Macroeconomic Instability, Capital Accumulation and Growth: The Case of Turkey 1963-1999. EcoMod2003330700071 Search in Google Scholar

Jongwanich, J. 2007. Workers’ Remittances, Economic Growth and Poverty in Developing Asia and the Pacific Countries. MPDD Working Paper Series WP/07/01. Search in Google Scholar

Jushi, E. et al. 2021. Financing Growth through Remittances and Foreign Direct Investment: Evidences from Balkan Countries. Journal of Risk and Financial Management 14 (3): 1-17. https://doi.org/10.3390/jrfm14030117 Search in Google Scholar

Jyun-Yi, W. and Chih-Chiang, H. 2008. Does foreign direct investment promote economic growth? Evidence from a threshold regression analysis. Economic Bulletin 15: 1–10. Search in Google Scholar

Karagöz, K. 2009. Workers’ remittances and economic growth: Evidence from Turkey. Journal of Yasar University 4: 1891–1908. Search in Google Scholar

Keho, Y. 2017. The impact of trade openness on economic growth: The case of Cote d’Ivoire. Cogent Economics and Finance 5 (1): 1-14. https://doi.org/10.1080/23322039.2017.1332820 Search in Google Scholar

Kumar, R. R. 2013. Remittances and Economic Growth: A Study of Guyana. Economic Systems 37 (3): 462-472.10.1016/j.ecosys.2013.01.001 Search in Google Scholar

Lartey, E. K. K. 2016. The Cyclicality of Remittances in Sub-Saharan Africa. Journal of Economic Development 41 (1): 1-18.10.35866/caujed.2016.41.1.001 Search in Google Scholar

Lartey, E. K. K. 2017. Remittances and current account dynamics. Economic Notes by Banca Monte dei Paschi di Siena SpA 46 (1): 37–52. https://doi:10.1111/ecno.1206610.1111/ecno.12066 Search in Google Scholar

Leitner, Sandra M. 2021. Net Migration and its Skill Composition in the South East European Countries between 2010 and 2019: Results from a Cohort Approach. Policy Notes and Reports 47. Vienna Institute for International Economic Studies. Search in Google Scholar

Lyroudi, K., Papanastasiou, J. and Vamvakidis, A. 2004. Foreign direct investment and economic growth in transition economies. South-Eastern Europe Journal of Economics 2: 97–110. Search in Google Scholar

Matuzeviciute, K., and Butkus, M. 2016. Remittances, Development Level and Long-Run Economic Growth. Economies 4 (4): 1-20.10.3390/economies4040028 Search in Google Scholar

Meyer, D. and Shera, A. 2016. The impact of remittances on economic growth: An econometric model. Economia 18 (2): 147-155. http://dx.doi.org/10.1016/j.econ.2016.06.00110.1016/j.econ.2016.06.001 Search in Google Scholar

Mim, B. S. and Ali, B. 2012. Through Which Channels Can Remittances Spur Economic Growth in MENA Countries? Economics Discussion Paper 2012-8.10.2139/ssrn.2006818 Search in Google Scholar

Mundell, R. A. 1963. Inflation and Real Interest. The Journal of Political Economy 71 (3): 280-283.10.1086/258771 Search in Google Scholar

National Bank of the Republic of North Macedonia 2021. https://nbstat.nbrm.mk/pxweb/mk (accessed May 20, 2021) Search in Google Scholar

National Bank of Serbia 2021. https://nbs.rs/en/drugi-nivonavigacije/statistika/index.html (accessed May 20, 2021) Search in Google Scholar

Nsiah, C. and Fayissa, B. 2013. Remittances and Economic Growth in Africa, Asia, and Latin American-Caribbean Countries: A Panel Unit Root and Panel Cointegration Analysis. Journal of Economics and Finance 37 (3): 424-441.10.1007/s12197-011-9195-6 Search in Google Scholar

OECD 2020. COVID-19 crisis response in South East European economies. OECD Policy Responses to Coronavirus (COVID-19). OECD Publishing Paris. https://doi.org/10.1787/c1aacb5a-en Search in Google Scholar

Olayungbo, D. A. and Quadri, A. 2019. Remittances, financial development and economic growth in sub-Saharan African countries: Evidence from a PMG-ARDL approach. Financial Innovation 5 (1): 1-25. https://doi:10.1186/s40854-019-0122-810.1186/s40854-019-0122-8 Search in Google Scholar

Overseas Development Institute 2016. What are the links between power, economic growth and job creation? Development Impact Evaluation. Search in Google Scholar

Paul, S., Kearney, C. and Chowdhury, K. 1997. Inflation and economic growth: a multi-country empirical analysis. Applied Economics 29 (10): 1387-1401.10.1080/00036849700000029 Search in Google Scholar

Petreski, M. et al. 2017. The Size and Effects of Emigration and Remittances in the Western Balkans. A Forecasting Based on a Delphi Process. Südosteuropa 65 (4): 679-695. https://doi.org/10.1515/soeu-2017-0044 Search in Google Scholar

Polat, B. and Rodríguez Andrés, A. 2019. Do emigrants’ remittances cause Dutch disease? A developing countries case study. The Economic and Labour Relations Review 30 (1): 59–76. https://doi.org/10.1177/1035304619828560 Search in Google Scholar

Raggl, A. K. 2017. The relevance of remittance inflows to CESEE countries: Evidence from macro- and microlevel data. Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank) 2: 80-102. Search in Google Scholar

Rao, B. B. and Hassan G. M. 2011. A panel data analysis of the growth effects of remittances. Economic modelling 28 (1-2): 701-709.10.1016/j.econmod.2010.05.011 Search in Google Scholar

Ramey, G. and Ramey, V. A. 1995. Cross-Country Evidence on the Link Between Volatility and Growth. The American Economic Review 85 (5): 1138-1151. Search in Google Scholar

Ratha, D. 2019. Remittances on track to become the largest source of external financing in developing countries. https://blogs.worldbank.org/peoplemove/remittances-track-become-largest-source-external-financing-developing-countries (accessed July 17, 2021). Search in Google Scholar

Saadi, M. 2020. Remittance inflows and export complexity: New evidence from developing and emerging countries. The Journal of Development Studies 56 (12): 2266–2292. https://doi.org/10.1080/00220388.2020.1755653 Search in Google Scholar

Savicevic, M. and Kostic, M. 2020. The Impact Analysis of Foreign Direct Investment on Export: The Case of the Western Balkan Countries. Economic Themes 58 (2): 171-186. https://doi.org/10.2478/ethemes-2020-0010 Search in Google Scholar

Schoors, K. and van der Tol, B. 2002. Foreign Direct Investment Spillovers within and between Sectors: Evidence from Hungarian Data. http://wps-feb.ugent.be/Papers/wp_02_157.pdf (accessed August 18, 2021). Search in Google Scholar

Simionescu, L. and Dumitrescu, D. 2017. Migrants remittances influence on fiscal sustainability in dependent economies. Amfiteatru Economic 19 (46): 640–653. Search in Google Scholar

Solow, R. M. 1956. A contribution to the theory of economic growth. Quarterly Journal of Economics 70: 65-94.10.2307/1884513 Search in Google Scholar

Tobin, J. 1965. Money and economic growth. Econometrica: Journal of the Econometric Society 33: 671-684.10.2307/1910352 Search in Google Scholar

Uvalic, M. 2019. Economic Integration of the Western Balkans into the European Union: The Role of EU Policies. Published in: Džankić, J., Keil, S., Kmezić, M. (eds) 2019. The Europeanisation of the Western Balkans - A Failure of EU Conditionality? Basingstoke: Palgrave Macmillan: 207-235. Search in Google Scholar

Wei, K., Yao, S. and Liu, A. 2009. Foreign Direct Investment and Regional Inequality in China. Review of Development Economics 13 (4): 778-791.10.1111/j.1467-9361.2009.00516.x Search in Google Scholar

World Bank 2016. Remittances Compared with Other Resource Flows. Migration and Remittances Factbook 2016, Third Edition. Search in Google Scholar

World Bank 2019. Leveraging Economic Migration for Development: A Briefing for the World Bank Board, Washington, DC: World Bank. Search in Google Scholar

World Bank 2019. Western Balkans and Croatia Urbanization and Territorial Review. World Bank, Washington, DC. https://openknowledge.worldbank.org/handle/10986/32308 (accessed August 15, 2021). Search in Google Scholar

World Bank 2020. The economic and social impact of Covid-19. Western Balkans regular economic report 17. https://www.worldbank.org/en/region/eca/publication/western-balkans-regular-economic-report (accessed August 18, 2021) Search in Google Scholar

World Bank 2022. Migration and Remittances Data. https://www.worldbank.org/en/topic/migrationremittancesdiasporaissues/brief/migration-remittances-data (accessed February 22, 2022). Search in Google Scholar

eISSN:
2233-1999
Język:
Angielski
Częstotliwość wydawania:
2 razy w roku
Dziedziny czasopisma:
Business and Economics, Political Economics, other, Business Management