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Bringing Home the Money - What Determines Worker's Remittances to Transition Countries?

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Author Info
Mechthild Schrooten

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Abstract

Workers' remittances are a major source of external finance in many former socialist countries. While previous studies showed that remittances have a positive impact on economic development, this study focuses on the determinants of remittances. Therefore, dynamic panel-data estimation techniques are applied. Major findings are: Remittances per capita and remittances in percent of GDP are driven by similar factors. In general, remittances are highly persistent and increase with the domestic unemployment rate. A higher GDP per capita as well as a higher degree of international integration of the sending countries' real sector leads to a decrease of remittances. In addition, there seems to evidence that remittances operate as a substitute for a well performing domestic banking sector. Institutional development seems to have no significant influence on the size of remittances. However, remittances per capita increase in times of war.

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Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number a466.

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Date of creation: Sep 2005
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Handle: RePEc:hit:hituec:a466

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Related research
Keywords: remittances migration dynamic panel data models

Find related papers by JEL classification:
F22 - International Economics - - International Factor Movements and International Business - - - International Migration
F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data

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