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Impact of Remittances on the Exchange Rate and Consumption: Evidence from Ukraine

Ihor Oleksiv and Diana Mirzoieva

Eastern European Economics, 2022, vol. 60, issue 5, 418-432

Abstract: This study analyzes the influence of remittances on the exchange rate and consumption, applying the Granger test and ARDL/ECM models to investigate different aspects of such impact. Using the Granger test, we tested causalities between remittance inflows, exchange rate, consumption, export, and import. The Granger test showed causal relations between remittances and all other listed variables. We also found that remittances contributed to the exchange rate appreciation in the short and long-term perspectives by applying ARDL/ECM models. Additionally, the ARDL/ECM models showed that the exchange rate was significantly defined by its lagged values.

Date: 2022
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DOI: 10.1080/00128775.2022.2093751

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Handle: RePEc:mes:eaeuec:v:60:y:2022:i:5:p:418-432