Do Remittances Matter for Economic Growth of the Philippines? An Investigation Using Bounds Test Analysis

19 Pages Posted: 8 Mar 2010 Last revised: 1 Aug 2012

Date Written: February 25, 2010

Abstract

The link between remittances and economic growth is a controversial subject. While for some countries with relatively high and perpetual remittances inflow, the impact on growth may be positive, but this is not the case for all the remittance receiving countries. In this study, we use the Bounds test analysis to investigate the relationship between remittance inflow and economic growth of the Philippines. We find remittances to positively affect economic growth and therefore are momentous for growth of the Philippines’ economy.

Keywords: Remittances, Growth, Financial Sector, Bounds Tests, Philippines

JEL Classification: C22, F22, F24, O16

Suggested Citation

Kumar, Ronald Ravinesh, Do Remittances Matter for Economic Growth of the Philippines? An Investigation Using Bounds Test Analysis (February 25, 2010). Available at SSRN: https://ssrn.com/abstract=1565903 or http://dx.doi.org/10.2139/ssrn.1565903

Ronald Ravinesh Kumar (Contact Author)

University of the South Pacific ( email )

Laucala Campus
Suva
Fiji

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