Cyclical Properties of Migrant's Remittances to Pakistan: What the data tell us
Migrant's remittances are a growing source of foreign funds for several developing countries including Pakistan. Despite a burgeoning body of literature and growing interest in migrants' remittances and its impact on recipient's economies, relatively little work exists on the business cycle characteristics of remittances to Pakistan. This study analyzes whether remittance act pro- or counter-cyclically in the face of external and internal economic shocks by employing annual data from 1973-2010 for Pakistan. The results show that migrant's remittances are counter-cyclical with respect to home output and households consumption. Remittances are found to be acyclical with the output of Pakistan's major remittances sources such as the United States and United Kingdom. Remittances from Saudi Arabia, however, show mixed results. The overall impact of remittance inflows to Pakistan appears to be a stabilizing one.
Volume (Year): 32 (2012)
Issue (Month): 4 ()
|Contact details of provider:|| |
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.:
- Farid Makhlouf & Mazhar Mughal, 2013.
"Remittances, Dutch Disease, And Competitiveness: A Bayesian Analysis,"
Journal of Economic Development,
Chung-Ang Unviersity, Department of Economics, vol. 38(2), pages 67-97, June.
- Farid MAKHLOUF & Mazhar MUGHAL, 2011. "Remittances, Dutch Disease, and Competitiveness - A Bayesian Analysis," Working Papers 2011-2012_1, CATT - UPPA - Université de Pau et des Pays de l'Adour, revised Dec 2011.
- Åule Akkoyunlu & Konstantin A. Kholodilin, 2008. "A Link Between Workers' Remittances and Business Cycles in Germany and Turkey," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 44(5), pages 23-40, September.
- Sayan, Serdar & Tekin-Koru, Ayca, 2007. "Remittances, Business Cycles and Poverty: The Recent Turkish Experience," MPRA Paper 6029, University Library of Munich, Germany.
- Serdar Sayan, 2006. "Business Cycles and Workers' Remittances; How Do Migrant Workers Respond to Cyclical Movements of GDP At Home?," IMF Working Papers 06/52, International Monetary Fund.
- Giuliano, Paola & Ruiz-Arranz, Marta, 2009.
"Remittances, financial development, and growth,"
Journal of Development Economics,
Elsevier, vol. 90(1), pages 144-152, September.
- Giuliano, Paola & Ruiz-Arranz, Marta, 2006. "Remittances, Financial Development, and Growth," IZA Discussion Papers 2160, Institute for the Study of Labor (IZA).
- Marta Ruiz-Arranz & Paola Giuliano, 2005. "Remittances, Financial Development, and Growth," IMF Working Papers 05/234, International Monetary Fund.
- Sayan, Serdar & Tekin-Koru, Ayca, 2007. "Business Cycles and Remittances: A Comparison of the Cases of Turkish Workers in Germany and Mexican Workers in the US," MPRA Paper 6030, University Library of Munich, Germany.
- Vargas-Silva, Carlos, 2008.
"Are remittances manna from heaven? A look at the business cycle properties of remittances,"
The North American Journal of Economics and Finance,
Elsevier, vol. 19(3), pages 290-303, December.
- Carlos Vargas-Silva, 2009. "Are Remittances Manna From Heaven? A Look at the Business Cycle Properties of Remittances," Working Papers 0905, Sam Houston State University, Department of Economics and International Business.
- Roberto Coronado, 2009. "Business cycles and remittances: can the Beveridge-Nelson decomposition provide new evidence?," Globalization and Monetary Policy Institute Working Paper 40, Federal Reserve Bank of Dallas.
- Mazhar MUGHAL & Amar Iqbal ANWAR, 2012. "Remittances, Inequality and Poverty in Pakistan: Macro and Microeconomic Evidence," Working Papers 2012-2013_2, CATT - UPPA - Université de Pau et des Pays de l'Adour, revised Aug 2012.
- Marianne Baxter & Robert G. King, 1995.
"Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series,"
NBER Working Papers
5022, National Bureau of Economic Research, Inc.
- Marianne Baxter & Robert G. King, 1999. "Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 575-593, November.
- Mazhar Y. Mughal, 2013. "Remittances As Development Strategy: Stepping Stones Or Slippery Slope?," Journal of International Development, John Wiley & Sons, Ltd., vol. 25(4), pages 583-595, 05.
- Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005.
"Are Immigrant Remittance Flows a Source of Capital for Development?,"
IMF Staff Papers,
Palgrave Macmillan, vol. 52(1), pages 55-81, April.
- 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.
- Morten O. Ravn & Harald Uhlig, 2002. "On adjusting the Hodrick-Prescott filter for the frequency of observations," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 371-375.
When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-12-00672. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.