Do remittances dampen the effect of natural disasters on output growth volatility in developing countries?
This paper analyzes the impact of natural disasters on the output growth volatility. Using a large sample of developing countries and mobilizing a dynamic panel data framework, it uncovers a diminishing macroeconomic destabilizing consequence of natural disasters as remittance inflows rise. It appears that the effect of natural disasters disappears for a remittance ratio above 8% of GDP. However, remittances aggravate the destabilizing effects of natural disasters when they exceed 17% of GDP.
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