engleski

The Impact of Remittances on Economic Growth – An Overview of Selected Research Achievements

Numerous papers have examined the relationship between remittances from migrants and the contribution this has towards development. Considering the importance and actuality of the topic, we decided to make an overview of selected achievements in the research of remittance impact on economic growth. Due to the fact that a high ratio of remittances remains officially unrecorded, the officially-reported figures accounting for roughly 35-75 percent of the total volume of remittance flows, it is possible only to predict the importance of remittances on economic growth, nevertheless, these predictions are based on relevant scientific research and methods. Overall, the existing literature provides inconsistent accounts as to how remittance inflows specifically influence economic growth. A significant number of articles suggest that through unintended consequences such as the Dutch Disease, remittance inflows may actually hamper economic growth. On the other hand, a number of authors suggests that remittance inflows do contribute to economic activity by alleviating poverty and enabling investment activities to take place.

remittances ; economic growth ; work migration ; foreign direct investment (FDI) ; panel ARDL approach

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