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Relationship Between Remittances and Economic Growth: Evidence from Southeast European Developing Countries

In: Economic Recovery, Consolidation, and Sustainable Growth

Author

Listed:
  • Krenare Shahini Gollopeni

    (Southeast European University)

  • Hyrije Abazi Alili

    (Southeast European University)

Abstract

For developing countries, remittances are an important source of external financing. Remittances show how well managing employment migration can contribute to a country's development and have an impact on poverty eradication. The purpose of this study is to investigate the impact of migrant remittances on economic growth by examining data from nine developing countries in Southeast Europe from 2008 to 2019. The data used are panel data and cover 12 years and using several models and econometric analyses to determine the relationship between these factors. The technique is based on these five econometric regression models to achieve better-quality results. Models used for econometric analysis include OLS, OLS Robust, fixed effect, random effect, and generalized method of moments (GMM). For the interpretation of the results, the generalized method of moments GMM was selected as the most suitable method. According to the results of this study, there is a positive and statistically significant relationship between remittances and economic development in the countries and periods studied.

Suggested Citation

  • Krenare Shahini Gollopeni & Hyrije Abazi Alili, 2023. "Relationship Between Remittances and Economic Growth: Evidence from Southeast European Developing Countries," Springer Proceedings in Business and Economics, in: Abdylmenaf Bexheti & Hyrije Abazi-Alili & Léo-Paul Dana & Veland Ramadani & Andrea Caputo (ed.), Economic Recovery, Consolidation, and Sustainable Growth, pages 169-177, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-42511-0_10
    DOI: 10.1007/978-3-031-42511-0_10
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    More about this item

    Keywords

    Remittance; Direct foreign investments; Economic growth; Panel data; GMM;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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