Macro Level Determinants of Remittances to Pakistan
Journal Title: International Journal of Financial Economics - Year 2014, Vol 2, Issue 3
Abstract
Remittance inflows to developing world stand tall among the sources of foreign finance. The purpose of this study is to explore the macro level factors that shape remittance inflows to Pakistan over the study period 1973 to 2010. Using time series data autoregressive distributed lagged model (ARDL) bounds testing approach is employed for parameters’ estimation. Results of the study reveal that income level at home, number of emigrants, increase in exchange rate and rate of inflation at origin all matters in determination of inflows to the country. Long run impact of the former three variables on remittances remained significantly positive while the impact of the domestic price level was substantiated with negative sign.
Authors and Affiliations
Yousaf Zaman, Khair-Uz-Zaman, Shadiullah Khan
Keywords
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