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Remittances, Dutch Disease, and Competitiveness: a Bayesian Analysis

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  • Farid Makhlouf

    (CATT - Centre d'Analyse Théorique et de Traitement des données économiques - UPPA - Université de Pau et des Pays de l'Adour)

  • Mazhar Mughal

    (CATT - Centre d'Analyse Théorique et de Traitement des données économiques - UPPA - Université de Pau et des Pays de l'Adour)

Abstract

The paper studies symptoms of Dutch disease in the Pakistani economy arising from international remittances. An IV Bayesian analysis is carried out to take care of the endogeneity and uncertainty due to the managed float of Pakistani Rupee. We find evidence for both spending and resource movement effects in both the short and the long-run. These impacts are stronger and different from those the Official Development Assistance and the FDI exert. We find that while aggregate remittances and the remittances from Persian Gulf contribute to the Dutch disease in Pakistan, those from North America and Europe do not.

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  • Farid Makhlouf & Mazhar Mughal, 2013. "Remittances, Dutch Disease, and Competitiveness: a Bayesian Analysis," Post-Print hal-01885290, HAL.
    • Handle: RePEc:hal:journl:hal-01885290
    Note: View the original document on HAL open archive server: https://univ-pau.hal.science/hal-01885290
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    Cited by:

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    2. Farid Farid, 2014. "The impact of exchange rate policy on remittances in Morocco: A Threshold VAR analysis," Economics Bulletin, AccessEcon, vol. 34(4), pages 2351-2360.
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    5. Inayat U. Mangla & Jamshed Y. Uppal, 2014. "Macro-economic Policies and Energy Security—Implications for a Chronic Energy Deficit Country," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 53(3), pages 255-273.
    6. Mariem Brahim & Nader Nefzi & Hamed Sambo, 2017. "Remittances and the real effective exchange rates in MENA countries: What is the long run impact?," CEPN Working Papers 2017-15, Centre d'Economie de l'Université de Paris Nord.
    7. Farid Makhlouf, 2013. "Remittances and Dutch Disease: A Meta-Analysis," Working Papers hal-01885152, HAL.
    8. Barajas, Adolfo & Chami, Ralph & Ebeke, Christian & Oeking, Anne, 2018. "What's different about monetary policy transmission in remittance-dependent countries?," Journal of Development Economics, Elsevier, vol. 134(C), pages 272-288.
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    12. Mariem Brahim & Nader Nefzi & Hamed Sambo, 2017. "Remittances and the real effective exchange rates in MENA countries: What is the long run impact?," CEPN Working Papers hal-01583564, HAL.
    13. T. V. Ojapinwa & N. I. Nwokoma, 2018. "Workers’ Remittances and the Dutch‐Disease Argument: Investigating the Relationship in Sub‐Saharan Africa," African Development Review, African Development Bank, vol. 30(3), pages 316-324, September.
    14. Su, Chi-Wei & Sun, Tiezhu & Ahmad, Shabbir & Mirza, Nawazish, 2021. "Does institutional quality and remittances inflow crowd-in private investment to avoid Dutch Disease? A case for emerging seven (E7) economies," Resources Policy, Elsevier, vol. 72(C).
    15. Boris Fisera & Menbere Workie Tiruneh, 2023. "Beyond the Balassa-Samuelson Effect: Do Remittances Trigger the Dutch Disease?," Eastern European Economics, Taylor & Francis Journals, vol. 61(1), pages 23-65, January.
    16. Sun QIANG & Adnan KHURSHID & Adrian Cantemir CALIN & Khalid KHAN, 2019. "Do Remittances Contribute to the Development of Financial Institutions? New Evidence from the Developing World," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 78-97, June.
    17. Sondra Collins & Edward Nissan, 2016. "Comparing Africa, Asia and Latin America/Caribbean countries using per capita GDP, remittances, openness, capital/labor ratios and freedom," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 40(1), pages 188-198, January.
    18. Farid Makhlouf & Refk Selmi, 2022. "Do sanctions work in a crypto world? The impact of the removal of Russian Banks from SWIFT on Remittances," Working Papers hal-03599089, HAL.
    19. Junaid Ahmed, 2012. "Cyclical Properties of Migrant's Remittances to Pakistan: What the data tell us," Economics Bulletin, AccessEcon, vol. 32(4), pages 3266-3278.
    20. Nuno Baetas da Silva & João Sousa Andrade & António Portugal Duarte, 2016. "Alternative Sources of Dutch Disease: A Survey of the Literature," GEMF Working Papers 2016-10, GEMF, Faculty of Economics, University of Coimbra.
    21. repec:aly:journl:202047 is not listed on IDEAS
    22. Hien, Nguyen Phuc & Hong Vinh, Cao Thi & Phuong Mai, Vu Thi & Kim Xuyen, Le Thi, 2020. "Remittances, real exchange rate and the Dutch disease in Asian developing countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 77(C), pages 131-143.

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    More about this item

    Keywords

    Remittance; Real Exchange Rate; Dutch Disease; Competitiveness; Bayesian Analysis; Pakistan;
    All these keywords.

    JEL classification:

    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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