Do remittances promote economic growth in the Caribbean Community and Common Market?

Sokchea Lim and Walter O. Simmons

Journal of Economics and Business, 2015, vol. 77, issue C, 42-59

Abstract: The paper investigates the economic importance of remittance flows to the Caribbean Community and Common Market (CARICOM). Utilizing panel cointegration tests, the results show that there is no evidence of a long-run relationship between remittances and real GDP per capita or investment but some evidence of a long-run relationship between remittances and consumption. This suggests that remittance inflows to the CARICOM region are used for consumption purposes rather than productivity improving spending.

Keywords: CARICOM; Remittances; Long-run economic growth; Consumption (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (47)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jebusi:v:77:y:2015:i:c:p:42-59

DOI: 10.1016/j.jeconbus.2014.09.001

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