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“Dynamic Effects of Migrant Remittances on Growth: An Econometric Model with an Application to Mediterranean Countries”. Discussion Paper, No. 74, KEPE, Athens, 2002

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  • NICHOLAS GLYTSOS

Abstract

This paper builds a Keynesian type econometric model with a dynamic perspective and a sound theoretical basis, for investigating the impact of remittances on consumption, investment, imports and output. It estimates short and long-run multiplier effects of exogenous shocks of remittances, with data from five Mediterranean countries. The analysis reveals a uniform country performance of instability and uncertainty, with great temporal and inter-country fluctuations of remittance effects. The findings point to different inter-country priorities of remittance spending and to an asymmetric impact of remittance changes, in the sense that the good done to growth by rising remittances is not as great as the bad done by falling remittances.

Suggested Citation

  • Nicholas Glytsos, 2005. "“Dynamic Effects of Migrant Remittances on Growth: An Econometric Model with an Application to Mediterranean Countries”. Discussion Paper, No. 74, KEPE, Athens, 2002," Labor and Demography 0505014, EconWPA.
  • Handle: RePEc:wpa:wuwpla:0505014 Note: Type of Document - doc; pages: 40
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    References listed on IDEAS

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    1. Adams, Richard H., Jr., 1991. "The effects of international remittances on poverty, inequality, and development in rural Egypt:," Research reports 86, International Food Policy Research Institute (IFPRI).
    2. Stark, Oded & Taylor, J Edward & Yitzhaki, Shlomo, 1986. "Remittances and Inequality," Economic Journal, Royal Economic Society, vol. 96(383), pages 722-740, September.
    3. Richards, Alan & Martin, Philip L, 1983. "The Laissez-Faire Approach to International Labor Migration: The Case of the Arab Middle East," Economic Development and Cultural Change, University of Chicago Press, vol. 31(3), pages 455-474, April.
    4. Davidson, James E H, et al, 1978. "Econometric Modelling of the Aggregate Time-Series Relationship between Consumers' Expenditure and Income in the United Kingdom," Economic Journal, Royal Economic Society, vol. 88(352), pages 661-692, December.
    5. Glytsos, Nicholas P, 1993. "Measuring the Income Effects of Migrant Remittances: A Methodological Approach Applied to Greece," Economic Development and Cultural Change, University of Chicago Press, vol. 42(1), pages 131-168, October.
    6. Russell, Sharon Stanton, 1986. "Remittances from international migration: A review in perspective," World Development, Elsevier, vol. 14(6), pages 677-696, June.
    7. Elbadawi, Ibrahim & de Rezende Rocha, Robert, 1992. "Determinants of expatriate workers'remittances in North Africa and Europe," Policy Research Working Paper Series 1038, The World Bank.
    8. Djajic, Slobodan, 1986. "International migration, remittances and welfare in a dependent economy," Journal of Development Economics, Elsevier, vol. 21(2), pages 229-234, May.
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    Cited by:

    1. Diego Alberto Sandoval Herrera & María Fernanda Reyes Roa, 2012. "¿Por qué los migrantes envían remesas?: Repaso de las principales motivaciones microeconómicas," BORRADORES DE ECONOMIA 010036, BANCO DE LA REPÚBLICA.
    2. Aysit Tansel & Pinar Yasar, 2010. "Macroeconomic impact of remittances on output growth: Evidence from Turkey," Migration Letters, Transnational Press London, UK, vol. 7(2), pages 132-143, October.
    3. Kenneth E Jackson, 2011. "Openness, Economic Growth and Labour Migration in times of Global Downturn: with Special Reference to Asian Examples," Working Papers id:4488, eSocialSciences.
    4. Miguel D. Ramirez & Hari Sharma, 2009. "Remittances and Growth in Latin America: A Panel Unit Root and Panel Cointegration Analysis," Estudios Economicos de Desarrollo Internacional, Euro-American Association of Economic Development, vol. 9(1).
    5. Radmila Dragutinovic Mitrovic & Milena Jovičić, 2006. "Macroeconomic Analysis of Causes and Effects of Remittances: A Panel Model of the SEE Countries and a Case Study of Serbia," wiiw Balkan Observatory Working Papers 63, The Vienna Institute for International Economic Studies, wiiw.
    6. Pablo Pincheira & Roberto Álvarez, 2009. "Evaluation of Short Run Inflation Forecasts and Forecasters in Chile," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 159-180, July-Dece.
    7. Trevor Campbell, 2009. "Workers Remittances and Their Impact on Economic Growth in Barbados," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 181-194, July-Dece.
    8. Sule Akkoyunlu & Konstantin A. Kholodilin, 2006. "What Affects the Remittances of Turkish Workers: Turkish or German Output?," Discussion Papers of DIW Berlin 622, DIW Berlin, German Institute for Economic Research.
    9. Roy, Ripon & Rahman, Md. Mokhlesur, 2014. "An empirical analysis of remittance – inflation relationship in Bangladesh: post-floating exchange rate scenario," MPRA Paper 55190, University Library of Munich, Germany.
    10. Jamal Bouoiyour & Refk Selmi & Amal Miftah, 2017. "Relationship Between Remittances and Macroeconomic Variables in Times of Political and Social Upheaval: Evidence from Tunisia's Arab Spring," Working Papers 1140, Economic Research Forum, revised 09 2003.
    11. World Bank, 2012. "Bangladesh - Towards Accelerated, Inclusive and Sustainable Growth : Opportunities and Challenges, Volume 2. Main Report," World Bank Other Operational Studies 12121, The World Bank.
    12. Durga P. Gautam, 2014. "Remittances and Governance: Does the Government Free Ride?," Working Papers 14-40, Department of Economics, West Virginia University.
    13. Neil Mitchell & Wayne Robinson, 2009. "The Asymmetric Effects of Nominal hocks on the Jamaican Economy: Evidence from a Non-linear VAR," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 119-138, July-Dece.
    14. Daniel Boamah & Winston Moore, 2009. "External Debt and Growth in the Caribbean," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 139-157, July-Dece.
    15. Biru Paul & Md. Uddin & Abdullah Noman, 2011. "Remittances and output in Bangladesh: an ARDL bounds testing approach to cointegration," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 58(2), pages 229-242, June.
    16. Aliaa Nabil Khodeir, 2015. "Migration Remittances Inflows and Macroeconomic Shocks: The Case of Egypt," International Journal of Economics and Financial Issues, Econjournals, vol. 5(4), pages 1001-1010.

    More about this item

    Keywords

    Keywords: Migration; Remittances; Growth; Dynamic Model; Mediterranean Countries;

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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