Do Workers'Remittances Promote Economic Growth in Pakistan?

Sarmad Ellahi () and Muhammad Omer
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Sarmad Ellahi: State Bank of Pakistan

No 106, SBP Working Paper Series from State Bank of Pakistan, Research Department

Abstract: This study investigates the role of workers’ remittances in promoting economic growth in Pakistan by using data from 1976-2017. We used GMM estimation to obtain the efficient estimates in the presence of endogeniety and simultaneity biases. Our estimates show that the increase in remittances inflows positively affects the economic growth of Pakistan. This impact is primarily through consumption channel, while investment channel is not found significant. However, in the long run, consumption growth may stimulate investment.

Keywords: Workers’ Remittances; GMM; Economic Growth1 (search for similar items in EconPapers)
JEL-codes: E24 O40 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2021-01
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