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Remittances, Institutions and Economic Growth

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Author Info
Natalia Catrinescu () (European Commission)
Miguel Leon-Ledesma () (University of Kent)
Matloob Piracha () (University of Kent and IZA Bonn)
Bryce Quillin () (World Bank)

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Abstract

There is considerable debate regarding the relative contribution of international migrants’ remittances to sustainable economic development. While the rates and levels of officially recorded remittances to developing countries has increased enormously over the last decade, academic and policy-oriented research has not come to a consensus over whether remittances contribute to longer-term growth by building human and financial capital or degrade long-run growth by creating labor substitution and ‘Dutch disease’ effects. This paper suggests that contradictory findings have emerged when looking at the remittancesgrowth link because previous studies have not correctly controlled for endogeneity. Using Dynamic Data Panel estimates we find that remittances exert a weakly positive impact on long-term macroeconomic growth. The paper also considers the proposition that the longerterm developmental impact of remittances is increased in the presence of sound economic policies and institutions.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2139.

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Length: 29 pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:iza:izadps:dp2139

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Related research
Keywords: international migration; remittances; growth; institutions;

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Find related papers by JEL classification:
F22 - International Economics - - International Factor Movements and International Business - - - International Migration
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  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. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. 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. [Downloadable!]
  2. 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. [Downloadable!]
  3. Thanh Le, . "Trade, Remittances, Institutions, and Economic Growth," MRG Discussion Paper Series 2308, School of Economics, University of Queensland, Australia. [Downloadable!]
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