摘要：Despite a plethora of research, the role of remittances on economic growth is yet to
be understood. Is there any long run relationship between remittances and GDP?
This paper contributes to the literature by answering this question for 11 top
remittance-recipient developing countries. These countries are: Bangladesh,
Dominican Republic, El Salvador, Gambia, Guatemala, Honduras, Jamaica,
Lesotho, Philippines, Senegal and Sri Lanka. Using recently developed econometric
techniques, i.e., panel cointegration and pooled mean group (PMG) approach; our
results support a positive long run relationship between remittances and GDP.
However, the magnitude of the remittance-GDP coefficient is rather quite small.
We hypothesize that remittances may be used to increase consumption in these
economies. Our results also imply that developing countries should formulate policies
to divert this external resource into more productive sectors.
关键词：External resources, economic growth, investment, consumption, long run
JEL Classifications: F24, F43, C33
