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Remittances, Institutions and Growth: A Semiparametric StudyIsabel RuizHarris Manchester College, University of Oxford Elias ShukrallaSiena College Carlos Vargas-SilvaUniversity of Oxford March 1, 2009 International Economic Journal, Vol. 23, No. 1, March 2009, 111-119. Abstract: In this article we re-examine the relationship between remittances and economic growth placing special attention to the non-linearity of this relationship. Previous studies have ignored the non-linearity of the relationship between remittances and economic growth or have used a quadratic term to capture non-linearity. We show that the relationship between remittances and growth is neither linear nor quadratic and propose the use of a semiparametric model to avoid the risk of misspecification bias from imposing an arbitrary functional form. We find evidence of a positive relationship between remittances and growth in parametric estimations, however, such relationship disappears when non-linearity is taken into account using nonparametric techniques.
Number of Pages in PDF File: 16 Keywords: Migration, Remittances, Economic Growth JEL Classification: F22, O11, O15 Accepted Paper SeriesDate posted: July 2, 2008 ; Last revised: August 11, 2009Suggested CitationContact Information
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