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      Remittances and the real effective exchange rate

      Hassan, Gazi M.; Holmes, Mark J.
      DOI
       10.1080/00036846.2013.808311
      Link
       www.tandfonline.com
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      Citation
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      Hassan, G. M., Holmes, M. J. (2013). Remittances and the real effective exchange rate. Applied Economics, 45(45), 4959-4970.
      Permanent Research Commons link: https://hdl.handle.net/10289/8129
      Abstract
      We examine the long-run relationship between remittances and the real exchange rate for less-developed countries. In a key departure from the literature, we employ a panel cointegration approach using an innovative method for the measurement of the multilateral real effective exchange rate and we focus on high-remittance economies. We find a small inelastic, but significant, long-run relationship which confirms a Dutch disease type effect. The short-run relationship is explored using a panel vector error correction model which confirms that short-run causality is unidirectional running from remittances to the exchange rate. Potential asymmetries in this relationship are identified using quantile regression analysis.
      Date
      2013
      Type
      Journal Article
      Publisher
      Routledge
      Collections
      • Management Papers [1125]
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