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Remittance and economic development: Evidence from Bangladesh using unrestricted error correction model and Engle-Granger cointegration approach

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  • Shimul, Shafiun N.

Abstract

Remittance is one of the popular issues in the development economics especially for the developing countries. This paper attempted at finding the relationship between remittance flow and economic development using time series data of 1976-2007. The two modern time series econometric approaches - bound testing Autoregressive Distributed Lag Models or Unrestricted Error Correction Model and Engle-Granger two step procedures for co-integration test - were executed and this study finds that remittance is not significant contributing factor for the GDP per capita both in the short and long run. However, the foreign direct investment is found significant factor in the short, though it is not significant factor in the long run. This study suggests adopting necessary actions to ensure that remittances work as a contributing factor of economic development.

Suggested Citation

  • Shimul, Shafiun N., 2013. "Remittance and economic development: Evidence from Bangladesh using unrestricted error correction model and Engle-Granger cointegration approach," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 9(1), pages 1-7, April.
    • Handle: RePEc:ags:pdcbeh:245064
    DOI: 10.22004/ag.econ.245064
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    File URL: https://ageconsearch.umn.edu/record/245064/files/201607040607_02_BEH_Vol9_Issue1_2013_Shafiun_Shimul_Remittance_economic_development_Evidence_Bangladesh_pp.15-21.pdf
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    Cited by:

    1. Mathew Ekundayo Rotimi & Mishelle Doorasamy & Udi Joshua & Grace Gift Rotimi & Confort Omolayo Rotimi & Gabriel Samuel & Gbenga Adeyemi & Ayodele Solomon Alemayo & Alfred Kimea, 2022. "ARDL Analysis of Remittance and Per Capita Growth Nexus in Oil Dependent Economy: The Nigeria’s Experience," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 15(3), pages 38-51, December.
    2. Emam, Md Ali & Chen, Tinggui & Leibrecht, Markus, 2021. "Inward Worker Remittances and Economic Growth: The Case of Bangladesh," Asian Journal of Applied Economics, Kasetsart University, Center for Applied Economics Research, vol. 28(2).

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    Keywords

    International Development;

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