International business cycles and remittance flows

Cooray, Arusha and Mallick, Debdulal 2013, International business cycles and remittance flows, B.E. journal of macroeconomics, vol. 13, no. 1, pp. 1-33, doi: 10.1515/bejm-2013-0030.

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Title International business cycles and remittance flows
Author(s) Cooray, Arusha
Mallick, DebdulalORCID iD for Mallick, Debdulal
Journal name B.E. journal of macroeconomics
Volume number 13
Issue number 1
Start page 1
End page 33
Total pages 33
Publisher Walter de Gruyter GmbH & Co. KG
Place of publication Berlin, Germany
Publication date 2013-09
ISSN 2194-6116
Keyword(s) remittance
international business cycle
dynamic panel data
Summary In this paper, we study the macroeconomic determinants of remittance flows. We place particular attention to fluctuations in remittance flows over the international business cycles. Estimating a dynamic panel data model using the system-GMM method over the period 1970–2007, we document that remittance inflows decrease with home country volatility. Contrarily, remittance inflows increase with the volatility in host countries, especially for middle-income countries. Lower interest rates in host countries lead to larger remittance outflows. Trade and capital account openness are the most important factors that determine both remittance inflows and outflows. We conclude that macroeconomic factors of both home and host countries are important for understanding remittance flows.
Language eng
DOI 10.1515/bejm-2013-0030
Field of Research 140210 International Economics and International Finance
Socio Economic Objective 910107 Macro Labour Market Issues
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2013
Copyright notice ©2013, Walter de Gruyter GmbH & Co. KG
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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