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Journal of Applied Sciences
  Year: 2009 | Volume: 9 | Issue: 18 | Page No.: 3275-3286
DOI: 10.3923/jas.2009.3275.3286
 
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The Impact of Remittances on Economic Growth in Small-Open Developing Economies

C.R.K. Ahortor and D.E. Adenutsi

Abstract:
The essence of this study is to verify the macroeconomic implications of cross-border remittances for economic growth prospects of small-open developing economies for the period, 1996-2006. A set of dynamic panel models specified within the framework of Blundell-Bond Generalized Method of Moments (GMM) was empirically analyzed. Using annual panel data from 31 small-open developing countries from Sub-Saharan Africa, Latin America and the Caribbean, this study argues that, contemporaneously, remittances contribute significantly to growth in small-open developing economies. Remittances, however, contribute more to long-run economic growth in Latin America and the Caribbean than to Sub-Saharan Africa. In dynamic terms, remittances retard growth, but with overall positive long-run growth impact across these developing economies. The methodology is very important to apply in another field.
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How to cite this article:

C.R.K. Ahortor and D.E. Adenutsi, 2009. The Impact of Remittances on Economic Growth in Small-Open Developing Economies. Journal of Applied Sciences, 9: 3275-3286.

DOI: 10.3923/jas.2009.3275.3286

URL: https://scialert.net/abstract/?doi=jas.2009.3275.3286

COMMENTS
30 June, 2017
Umar Ahmed:
Though I've not gone through the whole paper, the abstract shows that it is rich.
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