Harnessing International Market Power of Migrants’ Remittances for Economic Growth
Evidence from Asia
- DOI
- 10.2991/aebmr.k.201222.013How to use a DOI?
- Keywords
- Remittance Inflows, Gross Domestic Product, Consumer Price Inflation, Top Asian Remittance Recipient States
- Abstract
Numerous studies have investigated remittances and economic growth. However, remittance inflows (RI) and economic growth in Asian context has been rarely studied. Thus, this study investigated the impacts of remittance inflows to real Gross Domestic Product (RGDP) of 11 selected Top Asian Remittance-Recipient States (TARRS) with Customer Price Inflation (CPI) and Remittance as a share of GDP in percentage (REM GDP) as variables examined over the years 2010-2019. This study used Multiple Linear Regression Analysis based on the empirical model of Goschin (2013) and Mubeen et al. (2016). Results of descriptive statistics revealed the emerging trends in migrants’ RI, CPI, RGDP and REM GDP. Results for regression analysis revealed that migrants’ remittance inflows have statistical positive influence to boost economic growth of TARRS. However, results for regression estimated coefficients revealed that there is no significant impact of CPI on RGDP and there is no significant relationship between REM GDP and RGDP. Thus, leveraging business purpose and management of migrants’ remittances in Asian countries imply policy recommendations to address the urgent need for effective government policies to harness the market power of migrants’ remittances to transform economies through multilateral strategic partnership with public and private financial institutions, including other business stakeholders for the attainment of long-term goals and benefits.
- Copyright
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Nicky C. Cardenas PY - 2020 DA - 2020/12/23 TI - Harnessing International Market Power of Migrants’ Remittances for Economic Growth BT - Proceedings of the International Conference on Business and Management Research (ICBMR 2020) PB - Atlantis Press SP - 91 EP - 98 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.201222.013 DO - 10.2991/aebmr.k.201222.013 ID - Cardenas2020 ER -