Remittances as an Economic Development Factor. Empirical Evidence from the CEE Countries

The Relevance of Remittances in Fostering Economic Growth in the West Balkan Countries

“…The negative relationship of FDI and economic growth show the macroeconomic inefficiency of foreign capital in the West Balkan Countries. The results found in this study about the FDI are consistent with the findings of other studies (Goschin 2014;Mencinger 2003).…”

“…Our results are consistent with the literature and the empirical results that support the positive effect of remittances in economic development (Goschin 2014;Giuliano & Ruiz-Arranz 2006;Meyer & Shera 2017;Azam 2015) etc.…”

“…The same methodology is used by Goschin (2014), Meyer & Shera (2017). The Pooled Regression Model has the following expression:…”

Macroeconomic Drivers of Remittances and the Implication for Economic Growth in Nigeria

“…The two main theoretical approaches to remittances are "the family approach" stating that altruistic reasons determine the immigrant to send money in order to support the relatives left behind and "the portfolio approach" which considers remittances as investments made by the immigrant in his/her country of origin (Goschin, 2014). In both cases remittances should prompt economic effects, either by raising consumption (demand side) or production (supply side) and consequently enhancing economic development in receiving countries (OECD, 2006).…”

“…This seems to indicate that the money which the emigrant sends back home represent mere "compensatory transfers" providing support to poor families during difficult times (Goschin, 2014). Consequently, the variance of remittance flows is likely to be countercyclical (Chami et al, 2005).…”