Beyond the Balassa-Samuelson Effect: Do Remittances Trigger the Dutch Disease?

IF 1.3 4区经济学 Q3 ECONOMICS

Eastern European Economics Pub Date : 2022-08-02 DOI:10.1080/00128775.2022.2102038

Boris Fisera, Menbere Workie Tiruneh

引用次数: 2

Abstract

ABSTRACT We investigate the impact of remittance inflows on the real exchange rate using a sample of 134 developing and emerging economies. Using heterogeneous panel cointegration approach, we find that remittances contribute to long-term real appreciation of the domestic currency, which is beyond the level implied by the Balassa-Samuelson effect. Consequently, we find evidence that remittances might contribute to triggering the phenomenon of the Dutch disease. We also find evidence for heterogeneity in the effects of remittances on the real exchange rate: having floating exchange rate, higher economic freedom and higher financial development reduces the long-run appreciation due to remittance inflows.

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超越巴拉萨·萨缪尔森效应：汇款会引发荷兰疾病吗？

摘要我们以134个发展中国家和新兴经济体为样本，研究了汇款流入对实际汇率的影响。使用异质面板协整方法，我们发现汇款有助于本币的长期实际升值，这超出了巴拉萨·萨缪尔森效应所暗示的水平。因此，我们发现有证据表明，汇款可能有助于引发荷兰疾病的现象。我们还发现了汇款对实际汇率影响的异质性证据：浮动汇率、更高的经济自由度和更高的金融发展降低了汇款流入导致的长期升值。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Eastern European Economics ECONOMICS-

CiteScore

2.20

自引率

9.10%

发文量

期刊介绍： Eastern European Economics publishes original research on the newly emerging economies of Central and Eastern Europe, with coverage of the ongoing processes of transition to market economics in different countries, their integration into the broader European and global economies, and the ramifications of the 2008-9 financial crisis. An introduction by the journal"s editor adds context and expert insights on the articles presented in each issue.