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Remittances, Institutions, and Economic Growth in North African Countries

Nahed Zghidi (), Imen Mohamed Sghaier () and Zouheir Abida ()
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Nahed Zghidi: University of Sfax
Imen Mohamed Sghaier: University of Sfax
Zouheir Abida: University of Sfax

Journal of the Knowledge Economy, 2018, vol. 9, issue 3, 804-821

Abstract: Abstract This paper seeks to investigate the causal links between remittances, economic freedom, and economic growth on a panel of four North African countries, namely, Tunisia, Morocco, Algeria, and Egypt from 1980 to 2012. Using the system generalized method of moments (GMM) in a panel data analysis, we found strong evidence of a positive relationship between remittances and economic growth. We also found that economic freedom appears to be working as a complement to remittances and, that the effect of remittances is more pronounced in the presence of the economic freedom variable. Thus, to the extent that remittances have become a major source of external development finance, policies promoting greater freedom of economic activities benefit more from the presence of remittances.

Keywords: Remittances; Economic freedom index; Economic growth; Panel data (search for similar items in EconPapers)
JEL-codes: F24 O43 C23 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:spr:jknowl:v:9:y:2018:i:3:d:10.1007_s13132-016-0377-5