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Output Growth Volatility and Remittances
Open accessAbstract
Output growth volatility has negative effects on growth, poverty and welfare. The empirical literature has therefore searched for country-specific factors affecting volatility and focused on financial development, policy distortions, trade and financial openness. Using the same empirical framework, we focus on migrants' remittances that can help to reduce output growth volatility thanks to their size, stability and low procyclicality. In a cross-section of about 60 emerging and developing economies over the period 1980–2003, we show that indeed remittances are negatively correlated to output growth volatility. Instrumental variable estimation suggests that the effect of remittances is of a causal nature.
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Cites
Risk Aversion, Wealth, and Background Risk
Guiso, L., & Paiella, M. (2008) · Journal of the European Economic Association · doi:10.1162/jeea.2008.6.6.1109 · Cited by 1,057
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Are Incentives for R&D Effective? Evidence from a Regression Discontinuity Approach
Bronzini, R., & Iachini, E. (2014) · American Economic Journal: Economic Policy · doi:10.1257/pol.6.4.100 · Cited by 382
Exploring Agent-Based Methods for the Analysis of Payment Systems: A Crisis Model for StarLogo TNG
Arciero, L., Biancotti, C., D'Aurizio, L., & Impenna, C. (2008) · SSRN Electronic Journal · doi:10.2139/ssrn.1290520 · Cited by 300
How does immigration affect native internal mobility? New evidence from Italy
Mocetti, S., & Porello, C. (2010) · Regional Science and Urban Economics · doi:10.1016/j.regsciurbeco.2010.05.004 · Cited by 286
Comparing forecast accuracy: A Monte Carlo investigation
Busetti, F., & Marcucci, J. (2013) · International Journal of Forecasting · doi:10.1016/j.ijforecast.2012.04.011 · Cited by 283
Metadata
- Authors
- BUGAMELLI, M., & PATERNÒ, F.
- Venue
- Economica
- Publisher
- Wiley
- Published
- 2009-11-09
- Volume
- 78
- Issue
- 311
- Pages
- 480-500
- ISSN
- 0013-0427 (ISSN-L)
- OpenAlex
- W3121982094
- Cited by
- 442
- References
- 1
- FWCI
- 216.00
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.