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Title: IMPACT OF REMITTANCES ON ECONOMIC GROWTH: AN EMPIRICAL STUDY OF 14 DEVELOPING COUNTRIES
Authors: Devender
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Devender Ph.D. Centre for Economic Studies and Planning, School of Social Sciences, JNU
MLA 8 Devender. "IMPACT OF REMITTANCES ON ECONOMIC GROWTH: AN EMPIRICAL STUDY OF 14 DEVELOPING COUNTRIES." Int. j. of Social Science and Economic Research, vol. 7, no. 10, Oct. 2022, pp. 3347-3359, doi.org/10.46609/IJSSER.2022.v07i10.010. Accessed Oct. 2022. APA 6 Devender. (2022, October). IMPACT OF REMITTANCES ON ECONOMIC GROWTH: AN EMPIRICAL STUDY OF 14 DEVELOPING COUNTRIES. Int. j. of Social Science and Economic Research, 7(10), 3347-3359. Retrieved from https://doi.org/10.46609/IJSSER.2022.v07i10.010 Chicago Devender. "IMPACT OF REMITTANCES ON ECONOMIC GROWTH: AN EMPIRICAL STUDY OF 14 DEVELOPING COUNTRIES." Int. j. of Social Science and Economic Research 7, no. 10 (October 2022), 3347-3359. Accessed October, 2022. https://doi.org/10.46609/IJSSER.2022.v07i10.010.
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ABSTRACT: Personal remittance provides a significant source of foreign currency to developing countries to catering their need of foreign currency not only for the purpose of current consumption but also contributes significantly to the economy’s development process. For many of the countries, remittance is the larger source for foreign currency than foreign direct Investment (FDI) for their developing needs. The purpose of my study to addresses the heated debate about role of remittance in economic development of developing countries with using appropriate control variables. The primary aim of this study is to analyse the impact of remittances in development of 14 selected developing countries, for this analysis it has chosen a different variable panel data set for various economic parameters of 14 developing countries for 20 years i.e. for period from 1997 to 2016. The choice of the 14 countries has been made as they happen to be ones that receive highest quantum of remittances as proportion to their GDP in the category of developing countries. Secondarily, the study uses an econometric model using panel data. The study finds that the remittances do play a significant and positive role in the process of development of developing countries.

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