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Cited by 46Migration and Labor DynamicsEconomic Growth and ProductivityEconomic Growth and Development

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Impact of Remittances on Economic Growth: Empirical Evidence from South-East European Countries

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Bucevska, Vesna·2022·South East European Journal of Economics and Business
DOI 10.2478/jeb-2022-0006
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Abstract

South-East European (SEE) countries are experiencing high emigration, resulting in a significant increase in remittance inflows, exceeding FDI flows. Today the most important challenge facing SEE countries is how to grow at a higher speed to achieve faster economic convergence with the EU. The objective of the paper is to empirically examine the relevance of remittances as a factor of economic growth, using quarterly balanced panel data set of six SEE countries: Albania, Bosnia and Herzegovina, Croatia, Montenegro, the Republic of North Macedonia, and Serbia (SEE6) over 2008q1-2020q2. Panel regression with the fixed-effects model is employed to account for potential cross-section heterogeneity. This study provides original econometric evidence that remittances have a significant positive impact on economic growth in our panel of SEE6. Those results will be useful both to scholars and policymakers in the process of the creation of policies that will direct remittances into investments in the economy.

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Metadata

Authors
Bucevska, V.
Affiliations
Ss. Cyril and Methodius University in Skopje (MK)
Corresponding author
Bucevska, Vesna
ORCID
Bucevska, Vesna
Venue
South East European Journal of Economics and Business
Publisher
Walter de Gruyter GmbH
Published
2022-06-01
Volume
17
Issue
1
Pages
79-94
ISSN
2233-1999 (ISSN-L)
DOI
10.2478/jeb-2022-0006
OpenAlex
W4283362750
Cited by
46
References
0
Citations by year
2026: 12 · 2025: 8 · 2024: 15 · 2023: 7 · 2022: 4
FWCI
12.23
Type
journal article
Language
en
Open access
Licence
Locations
South East European Journal of Economics and Business (publishedVersion, cc-by-nc-nd)
Topics
  • Social Sciences › Sociology and Political Science › Migration and Labor Dynamics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Development
Keywords
remittances, economic growth, Southeastern Europe, emigration, EU convergence, remittance policy, Albania, Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, Serbia

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