Are There Significant Externality Effects of Remittances in Asian Economic Growth?
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Are There Significant Externality Effects of Remittances in Asian Economic Growth?
Hassan, Gazi M. | Shakur, Shamim
Applied Economics Quarterly, Vol. 64 (2018), Iss. 2 : pp. 127–135
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Hassan, Gazi M., Department of Economics, Waikato Management School, University of Waikato, Hamilton 3240, New Zealand.
Shakur, Shamim, School of Economics and Finance, Massey University, Palmerston North, New Zealand.
Abstract
Abstract
This article estimates the externality effects of remittances in a sample of Asian countries. According to Romer (1986) externality generated by education sector can raise nationwide productivity. Because a significant portion of remittances income is invested on education, remittances stock can also generate such externalities. Using a Romer type production function and with the aid of panel cointegration technique applied to the data, we find evidence in favour of a highly significant externality effects of remittances, although these estimates are small in magnitude.
JEL classifications: F24; F43; O11; O15
Keywords: Remittances; Externality Effects; Endogenous Growth; Panel Cointegration, group-mean panel dynamic OLS
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Gazi M. Hassan / Shamim Shakur: Are There Significant Externality Effects of Remittances in Asian Economic Growth? | 1 | ||
| Abstract | 1 | ||
| 1. Introduction | 1 | ||
| 2. The Model | 2 | ||
| 3. Data and Empirical Specification | 3 | ||
| 4. Results | 4 | ||
| 5. Conclusion | 7 | ||
| References | 7 |