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Joseph Siani
''The impact of remittances on human development in developing countries: an empirical evidence from cross-sectionally dependent heterogeneous panel data with structural breaks''
( 2022, Vol. 42 No.4 )
This paper applies second generation panel unit root, panel cointegration and panel vector error-correction Granger causality tests that allow for country specific heterogeneity, cross-country dependence and multiple structural breaks in a panel of 100 developing countries and shows that in the short-run, there is evidence of (i) a bidirectional causal relationship between economic growth and human development; (ii) a unidirectional causal relationship from remittances to human development and (iii) a bidirectional causal relationship between economic growth and remittances. Our results further suggest that in the long-run, both economic growth and remittances jointly Granger-cause human development and that it takes more than fourteen years for human development to converge to its long-run equilibrium in response to changes in economic growth and remittances.
Keywords: remittances, human development, developing countries, panel data, cross-sectional dependence, heterogeneity, structural breaks
JEL: I3 - Welfare and Poverty: General
F2 - International Factor Movements and International Business: General
Manuscript Received : Apr 15 2022 Manuscript Accepted : Dec 30 2022

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