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Effect of Workers' Remittances on Private Savings Behavior in Pakistan

Author

Listed:
  • Rahila Munir
  • Maqbool H Sial
  • Ghulam Sarwar
  • Samina Shaheen

Abstract

The study empirically examined the macroeconomic impact of remittances on private savings in Pakistan by applying the ARDL Bounds Testing Approach of co integration by using annual time series data for 1973-2007.It also analyzes the effectiveness of remittances and foreign direct investment in promoting savings. The results reveal that worker remittances positively affect the private savings in Pakistan in the long run and in the short run. So remittances are not only spent on basic consumption needs, but are also either saved or invested. But the effect of foreign direct investment on private savings is negative because it is not directly reached the poor households.

Suggested Citation

  • 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.
    • Handle: RePEc:asi:aeafrj:v:1:y:2011:i:3:p:95-103:id:714
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    Citations

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    Cited by:

    1. Qazi-Muhammad Adnan Hye & Wee-Yeap Lau, 2018. "Does Financial and Trade Liberalization Drive Private Savings in Pakistan?," Asian Development Policy Review, Asian Economic and Social Society, vol. 6(4), pages 198-212, December.
    2. Mehak Ejaz & Muhammad Ramzan Sheikh & Rana Zafar Hayat & Neelam Asghar Ali, 2022. "Overseas Labour Migration, Remittances, International Trade and Economic Growth Nexus in Pakistan," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(3), pages 166-175, September.
    3. Nnyanzi John Bosco & Oryema John Bosco & Kilimani Nicholas, 2022. "How important are remittances to savings? Evidence from the Latin America and the Caribbean Countries," IZA Journal of Development and Migration, Sciendo & Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 13(1), pages 1-37, January.

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