Relationship Between Remittances and Economic Growth: Evidence from Southeast European Developing Countries

Krenare Shahini Gollopeni () and Hyrije Abazi Alili ()
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Krenare Shahini Gollopeni: Southeast European University
Hyrije Abazi Alili: Southeast European University

A chapter in Economic Recovery, Consolidation, and Sustainable Growth, 2023, pp 169-177 from Springer

Abstract: Abstract For developing countries, remittances are an important source of external financing. Remittances show how well managing employment migration can contribute to a country's development and have an impact on poverty eradication. The purpose of this study is to investigate the impact of migrant remittances on economic growth by examining data from nine developing countries in Southeast Europe from 2008 to 2019. The data used are panel data and cover 12 years and using several models and econometric analyses to determine the relationship between these factors. The technique is based on these five econometric regression models to achieve better-quality results. Models used for econometric analysis include OLS, OLS Robust, fixed effect, random effect, and generalized method of moments (GMM). For the interpretation of the results, the generalized method of moments GMM was selected as the most suitable method. According to the results of this study, there is a positive and statistically significant relationship between remittances and economic development in the countries and periods studied.

Keywords: Remittance; Direct foreign investments; Economic growth; Panel data; GMM (search for similar items in EconPapers)
JEL-codes: F21 F24 O11 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-42511-0_10

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DOI: 10.1007/978-3-031-42511-0_10

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