The Economic Implications of Remittances on Economic Growth: The Case Study of Pakistan

Syed Zeeshan Zafar, Muhammad Siddique, Haroon Ahmad and Tahir Ahmad Khan

International Journal of Academic Research in Business and Social Sciences, 2016, vol. 6, issue 7, 215-222

Abstract: The objective of this research is to study the wallop of remittances on GDP in Pakistan. Overall domestic product is versatile dependent. Remittances, foreign aid and investments are independent variables. A data of Pakistan is collected of 30 years (1985-2014) from WORLD DVELOPMENT IDICATORS. The model equation used in this data collection is based on Ordinary Least Square (OLS) method. Analysis shows that foreigners play important role in enhancing economy of Pakistan. There is positive relation between remittances and economy growth in Pakistan. If remittances are increased by 1% then 6.68% growth economy will increase. R square is equal to .9798, which means that 97% variation in dependent variable is due to independent variables.

Keywords: Remittances; Foreign direct investment; Foreign Aid and Gross Domestic Product (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:hur:ijarbs:v:6:y:2016:i:7:p:215-222

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