Remittances and economic growth: A study of Guyana |
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Authors: | Ronald Ravinesh Kumar |
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Institution: | School of Economics, Faculty of Business & Economics, University of the South Pacific, Suva, Fiji |
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Abstract: | Using an augmented Solow framework and an ARDL bounds test for cointegration, we explore the short- and long-run effects of remittances, aid and financial deepening on growth in Guyana using annual data for the period 1982–2010. The results show that remittances have a positive and significant effect both in the short and the long run. Aid has a negative effect in the long run and financial deepening is not statistically significant. The Granger-causality test reveals that capital stock, aid and financial deepening cause remittances inflow in Guyana. |
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Keywords: | Remittances Financial deepening Aid Growth Guyana |
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