Naslov
Macroeconomic Effects of Workers’ Remittances: Evidence from the Western Balkan Countries

Autori
Bucevska, Vesna ; Dumičić, Ksenija

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Economic and Social Development (Book of Proceedings), 20th International Scientific Conference on Economic and Social Development, Prague, 27-28 April 2017 / Li Yongqiang, Anica Hunjet, Ante Roncevic - Prag : VADEA, 2017, 94-103

Skup
20th International Scientific Conference on Economic and Social Development, Prague, 27-28 April 2017

Mjesto i datum
Prag, Češka Republika, 27.04.2017. - 28.04.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Migration, workers’ remittances, macroeconomic effects, panel data, the Western Balkan countries

Sažetak
Workers’remittances have been in the focus of researchers and policy makers for years due to their magnitude and positive impact on a micro and a macro level. However, the interest in this topic has resurged recently as a result of the upward trend of migrant remittances and especially of the striking increase of remittance inflows to the developing countries. Workers’ remittances are an extremely important source of external financing for most of the Western Balkan countries. During the latest global financial crisis, they helped these countries to maintain their foreign exchange reserves stable and to decrease their current account deficits. This study aims to investigate the macroeconomic effects of remittances sent to the Western Balkan countries, especially in times of financial shocks, such as the latest global economic and financial crisis 2008/2009. To achieve this objective, we estimate a model with fixed effects of period using panel quarterly data on migrant remittances per capita as a dependent variable and gross domestic product (GDP) per capita, gross monthly wages, unemployment rates, consumer price indices’ and total imports of goods as explanatory variables for four Western Balkan countries (Macedonia, Croatia, Serbia and Albania) over the period 2007-2015.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
Acknowledgment: This work has been fully supported by Croatian Science Foundation under the project STatistical Modelling for REspoNse to Crisis and Economic GrowTH in WeStern Balkan Countries -STRENGTHS (project no. HRZZ-IP-2013-11-9402)

POVEZANOST RADA