EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES
This study aims to understand the reasons behind remittances sent by emigrants working abroad. It focuses on the top ten recipient countries, using data from the World Development Indicator (WDI) database covering 1991 to 2022. Various econometric tests were conducted to analyze the...
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| Format: | Article |
| Language: | English |
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Shaheed Zulfikar Ali Bhutto Institute of Science and Technology
2025-01-01
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| Series: | JISR Management and Social Sciences & Economics |
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| Online Access: | https://jisrmsse.szabist.edu.pk/index.php/szabist/article/view/691 |
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| author | Ashfaque Ali Gilal Hong Liu |
| author_facet | Ashfaque Ali Gilal Hong Liu |
| author_sort | Ashfaque Ali Gilal |
| collection | DOAJ |
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This study aims to understand the reasons behind remittances sent by emigrants working abroad. It focuses on the top ten recipient countries, using data from the World Development Indicator (WDI) database covering 1991 to 2022. Various econometric tests were conducted to analyze the data, including descriptive statistics, correlation coefficients, and unit root tests such as Breitung and Im Pesaran and Shin tests. Dynamic Ordinary Least Squares (DOLS) and Panel ARDL models were used to explore long-term effects and relationships between macroeconomic variables and remittances. The findings indicate that remittances are motivated by both altruism and self-interest, showing both pro- cyclical and counter-cyclical patterns. The study recommends that governments in these countries develop policies to encourage remittances through formal banking channels and registered money transfer services. It suggests implementing attractive incentives using modern technology and mobile apps, and enforcing strict measures against informal and illegal money transfer operations like hawala and hundi.
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| format | Article |
| id | doaj-art-4cb707599c9e48d2873a7ace292fd398 |
| institution | Kabale University |
| issn | 2616-7476 1998-4162 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Shaheed Zulfikar Ali Bhutto Institute of Science and Technology |
| record_format | Article |
| series | JISR Management and Social Sciences & Economics |
| spelling | doaj-art-4cb707599c9e48d2873a7ace292fd3982025-01-07T16:17:48ZengShaheed Zulfikar Ali Bhutto Institute of Science and TechnologyJISR Management and Social Sciences & Economics2616-74761998-41622025-01-0122210.31384/jisrmsse/2024.30.6.5EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIESAshfaque Ali Gilal0Hong Liu1sukkur iba universityTianjin Tianshi college China This study aims to understand the reasons behind remittances sent by emigrants working abroad. It focuses on the top ten recipient countries, using data from the World Development Indicator (WDI) database covering 1991 to 2022. Various econometric tests were conducted to analyze the data, including descriptive statistics, correlation coefficients, and unit root tests such as Breitung and Im Pesaran and Shin tests. Dynamic Ordinary Least Squares (DOLS) and Panel ARDL models were used to explore long-term effects and relationships between macroeconomic variables and remittances. The findings indicate that remittances are motivated by both altruism and self-interest, showing both pro- cyclical and counter-cyclical patterns. The study recommends that governments in these countries develop policies to encourage remittances through formal banking channels and registered money transfer services. It suggests implementing attractive incentives using modern technology and mobile apps, and enforcing strict measures against informal and illegal money transfer operations like hawala and hundi. https://jisrmsse.szabist.edu.pk/index.php/szabist/article/view/691macroeconomic determinants of remittancesTop remittances recipient countriesDynamic OLSPMG |
| spellingShingle | Ashfaque Ali Gilal Hong Liu EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES JISR Management and Social Sciences & Economics macroeconomic determinants of remittances Top remittances recipient countries Dynamic OLS PMG |
| title | EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES |
| title_full | EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES |
| title_fullStr | EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES |
| title_full_unstemmed | EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES |
| title_short | EXPLORING THE MACROECONOMIC DETERMINANTS OF REMITTANCES IN TOP REMITTANCES' RECIPIENT COUNTRIES |
| title_sort | exploring the macroeconomic determinants of remittances in top remittances recipient countries |
| topic | macroeconomic determinants of remittances Top remittances recipient countries Dynamic OLS PMG |
| url | https://jisrmsse.szabist.edu.pk/index.php/szabist/article/view/691 |
| work_keys_str_mv | AT ashfaquealigilal exploringthemacroeconomicdeterminantsofremittancesintopremittancesrecipientcountries AT hongliu exploringthemacroeconomicdeterminantsofremittancesintopremittancesrecipientcountries |