Can Remittances Spur Economic Growth? Evidence from Selected Asian and South American Countries

Waseem Khadim and Bilal Mehmood
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Waseem Khadim: GC University, Lahore, Pakistan.
Bilal Mehmood: GC University, Lahore, Pakistan.

International Journal of Economics and Empirical Research (IJEER), 2016, vol. 4, issue 7, 342-347

Abstract: Purpose: This study explores the impact of remittances on economic growth of nine Asian and three South American Countries. Methodology: The conventional neoclassical growth framework using panel data is applied. Findings: We find that remittances have a positive and significant effect on the growth of Asian and South American Countries, where the financial systems are less developed by providing an alternative way to finance investment and helping overcome liquidity constraints. Recommendations: Policy recommendations have been provided.

Keywords: Remittances; Economic Growth; Panel Data (search for similar items in EconPapers)
JEL-codes: C15 C22 F10 F12 (search for similar items in EconPapers)
Date: 2016
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