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Macroeconomic Impact of Remittances on Output Growth: Evidence from Turkey

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Author Info

  • Aysit Tansel

    ()
    (Department of Economics, METU)

  • Pinar Yasar

    ()
    (State Planning Organization)

Abstract

This study estimates a Keynesian simultaneous, dynamic macroeconometric model to investigate the impact of remittances on key macro variables such as consumption, investment, imports and income in Turkey. The estimated impact and dynamic multipliers indicate that impact of remittances on consumption, imports and income are all positive and reduce gradually while that on investment wears out in the second year. The impact multiplier for income implies a substantial increase in income due to remittances through the multiplier process. The remittances-induced output growth rate is highest during the early 1970s and the early 1980s, but negligible during the other years.

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File URL: http://www.erc.metu.edu.tr/menu/series10/1002.pdf
File Function: First version, 2010
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Bibliographic Info

Paper provided by ERC - Economic Research Center, Middle East Technical University in its series ERC Working Papers with number 1002.

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Length: 22 pages
Date of creation: Jun 2010
Date of revision: Jun 2010
Handle: RePEc:met:wpaper:1002

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Keywords: Remittances; Dynamic Model; Remittances-Induced Output Growth;

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References

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  1. Nicholas Glytsos, 2005. "A Model of Remittance Determination Applied to Middle East and North Africa Countries," Labor and Demography 0505016, EconWPA.
  2. Luis René Cáceres & Nolvia Nery Saca, 2006. "What Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador," IMF Working Papers 06/250, International Monetary Fund.
  3. Robert Burgess & V. Haksar, 2005. "Migration and Foreign Remittances in the Philippines," IMF Working Papers 05/111, International Monetary Fund.
  4. Samir Jahjah & Ralph Chami & Connel Fullenkamp, 2003. "Are Immigrant Remittance Flows a Source of Capital for Development," IMF Working Papers 03/189, International Monetary Fund.
  5. Yves Bourdet & Hans Falck, 2006. "Emigrants' remittances and Dutch Disease in Cape Verde," International Economic Journal, Taylor & Francis Journals, vol. 20(3), pages 267-284.
  6. Glytsos, Nicholas P, 1993. "Measuring the Income Effects of Migrant Remittances: A Methodological Approach Applied to Greece," Economic Development and Cultural Change, University of Chicago Press, vol. 42(1), pages 131-68, October.
  7. Catrinescu, Natalia & Leon-Ledesma, Miguel & Piracha, Matloob & Quillin, Bryce, 2009. "Remittances, Institutions, and Economic Growth," World Development, Elsevier, vol. 37(1), pages 81-92, January.
  8. Marta Ruiz-Arranz & Paola Giuliano, 2005. "Remittances, Financial Development, and Growth," IMF Working Papers 05/234, International Monetary Fund.
  9. Poonam Gupta, 2005. "Macroeconomic Determinants of Remittances," IMF Working Papers 05/224, International Monetary Fund.
  10. Serdar Sayan, 2004. "Guest Workers' Remittances and Output Fluctuations in Host and Home Countries : The Case of Remittances from Turkish Workers in Germany," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 40(6), pages 68-81, November.
  11. Acosta, Pablo A. & Lartey, Emmanuel K.K. & Mandelman, Federico S., 2009. "Remittances and the Dutch disease," Journal of International Economics, Elsevier, vol. 79(1), pages 102-116, September.
  12. Schiopu, Ioana & Siegfried, Nikolaus, 2006. "Determinants of workers’ remittances: evidence from the European Neighbouring Region," Working Paper Series 0688, European Central Bank.
  13. Nicholas Glytsos, 2005. "“Dynamic Effects of Migrant Remittances on Growth: An Econometric Model with an Application to Mediterranean Countries”. Discussion Paper, No. 74, KEPE, Athens, 2002," Labor and Demography 0505014, EconWPA.
  14. Miguel León-Ledesma & Matloob Piracha, 2001. "International Migration and the Role of Remittances in Eastern Europe," Studies in Economics 0113, Department of Economics, University of Kent.
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Cited by:
  1. Antonio Di Paolo & Aysit Tansel, 2013. "“Returns to Foreign Language Skills in a Developing Country: The Case of Turkey”," AQR Working Papers 201311, University of Barcelona, Regional Quantitative Analysis Group, revised Nov 2013.
  2. repec:rej:journl:v:14:y:2011:i:42:p:3-23 is not listed on IDEAS
  3. Farid MAKHLOUF & Adil NAAMANE, 2013. "The Impact of Remittances on Economic Growth. The Evidence from Morocco," Working Papers 2013-2014_3, CATT - UPPA - Université de Pau et des Pays de l'Adour, revised Sep 2013.

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