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Remittances, Institutions, and Economic Growth

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  • Catrinescu, Natalia
  • Leon-Ledesma, Miguel
  • Piracha, Matloob
  • Quillin, Bryce

Abstract

Summary There is considerable debate regarding the relative contribution of international migrants' remittances to sustainable economic development. While officially recorded remittances to developing countries have increased over the last decade, research has not come to a consensus over whether remittances have a positive or negative impact on long-run growth. This paper argues that contradictory findings have emerged when looking at the remittances-growth link because of an omitted variable bias: specifically, remittances will be more likely to contribute to longer-term growth in countries with higher quality political and economic policies and institutions.

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Bibliographic Info

Article provided by Elsevier in its journal World Development.

Volume (Year): 37 (2009)
Issue (Month): 1 (January)
Pages: 81-92

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Handle: RePEc:eee:wdevel:v:37:y:2009:i:1:p:81-92

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Web page: http://www.elsevier.com/locate/worlddev

Related research

Keywords: international migration remittances growth institutions growth regressions;

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References

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  1. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
  2. Roman Arjona & Maxime Ladaique & Mark Pearson, 2002. "Social Protection and Growth," OECD Economic Studies, OECD Publishing, vol. 2002(2), pages 7-45.
  3. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth : revisiting the evidence," Policy Research Working Paper Series 3004, The World Bank.
  4. Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005. "Are Immigrant Remittance Flows a Source of Capital for Development?," IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 55-81, April.
  5. Devesh KAPUR, 2004. "Remittances: The New Development Mantra?," G-24 Discussion Papers 29, United Nations Conference on Trade and Development.
  6. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 133-162, January.
  7. Judson, Ruth A. & Owen, Ann L., 1999. "Estimating dynamic panel data models: a guide for macroeconomists," Economics Letters, Elsevier, vol. 65(1), pages 9-15, October.
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Citations

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Cited by:
  1. Katarzyna Budnik, 2011. "Temporary migration in theories of international mobility of labour," Bank i Kredyt, National Bank of Poland, Economic Institute, vol. 42(6), pages 7-48.
  2. Thanh Le, 2009. "Trade, Remittances, Institutions, and Economic Growth," International Economic Journal, Korean International Economic Association, vol. 23(3), pages 391-408.
  3. Garcia-Fuentes, Pablo A. & Kennedy, P. Lynn, 2009. "Remittances and economic growth in Latin America and the Caribbean: The Impact of the human capital development," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46751, Southern Agricultural Economics Association.
  4. B. Mak Arvin & Byron Lew, 2012. "Do happiness and foreign aid affect bilateral migrant remittances?," Journal of Economic Studies, Emerald Group Publishing, vol. 39(2), pages 212-230, May.
  5. Qayyum, Abdul & Javid, Muhammad & Arif, Umaima, 2008. "Impact of Remittances on Economic Growth and Poverty: Evidence from Pakistan," MPRA Paper 22941, University Library of Munich, Germany.
  6. Balli, Faruk & Guven, Cahit & Balli, Hatice O. & Gounder, Rukmani, 2010. "The Role of Institutions, Culture, and Wellbeing in Explaining Bilateral Remittance Flows: Evidence Both Cross-Country and Individual-Level Analysis," MPRA Paper 29609, University Library of Munich, Germany.
  7. Sami Ben Mim (ERUDITE) & Fatma Mabrouk (GREThA, CNRS, UMR 5113), 2011. "Remittances and economic growth: what channels of transmission? (In French)," Cahiers du GREThA 2011-28, Groupe de Recherche en Economie Théorique et Appliquée.
  8. repec:ebl:ecbull:eb-12-00245 is not listed on IDEAS
  9. Ali Mansoor & Bryce Quillin, 2007. "Migration and Remittances : Eastern Europe and the Former Soviet Union," World Bank Publications, The World Bank, number 6920.
  10. Christian Ebeke, 2011. "The power of Remittances on the Prevalence of Child Labor," Working Papers halshs-00554258, HAL.
  11. Anupam Das & Murshed Chowdhury, 2011. "Remittances and GDP Dynamics in 11 Developing Countries: Evidence from Panel Cointegration and PMG Techniques," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 14(42), pages 3-23, December.
  12. Bettin, Giulia & Lucchetti, Riccardo & Zazzaro, Alberto, 2009. "Income, consumption and remittances: Evidence from immigrants to Australia," HWWI Research Papers 3-21, Hamburg Institute of International Economics (HWWI).
  13. John C. Anyanwu, 2012. "Why Does Foreign Direct Investment Go Where It Goes?: New Evidence From African Countries," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 425-462, November.
  14. Bjuggren, Per-Olof & Dzansi, James & Shukur, Ghazi, 2010. "Remittances and Investment," Working Paper Series in Economics and Institutions of Innovation 216, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  15. Biru Paul & Md. Uddin & Abdullah Noman, 2011. "Remittances and output in Bangladesh: an ARDL bounds testing approach to cointegration," International Review of Economics, Springer, vol. 58(2), pages 229-242, June.
  16. Rahila Munir & Maqbool H. Sial & Ghulam Sarwar & Samina Shaheen, 2011. "Effect of Workers Remittances on Private Savings Behavior in Pakistan," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 1(3), pages 95-103, September.
  17. Philip Bodman & Thanh Le, . "Remittances or technological diffusion: Which is more important for generating economic growth in developing countries?," MRG Discussion Paper Series 1807, School of Economics, University of Queensland, Australia.
  18. Giulia Bettin & Alberto Zazzaro, 2009. "Remittances and Financial Development:;Substitutes or Complements in Economic Growth?," Mo.Fi.R. Working Papers 28, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

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