Remittances and Economic Growth: A Study of Guyana

Posted: 13 Oct 2015


Using an augmented Solow framework and an ARDL bounds test for cointegration, we explore the short- and long-run effects of remittances, aid and financial deepening on growth in Guyana using annual data for the period 1982-2010. The results show that remittances have a positive and significant effect both in the short and the long run. Aid has a negative effect in the long run and financial deepening is not statistically significant. The Granger-causality test reveals that capital stock, aid and financial deepening cause remittances inflow in Guyana.

Keywords: Remittances, Financial deepening, Aid, Growth, Guyana

JEL Classification: C22, F24, F43, O54

Suggested Citation

Kumar, Ronald Ravinesh, Remittances and Economic Growth: A Study of Guyana. Economic Systems, Vol. 37, No. 3, 2013, Available at SSRN:

Ronald Ravinesh Kumar (Contact Author)

University of the South Pacific ( email )

Laucala Campus


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