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Impact of Remittances on the Exchange Rate and Consumption: Evidence from Ukraine

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  • Ihor Oleksiv
  • Diana Mirzoieva

Abstract

This study analyzes the influence of remittances on the exchange rate and consumption, applying the Granger test and ARDL/ECM models to investigate different aspects of such impact. Using the Granger test, we tested causalities between remittance inflows, exchange rate, consumption, export, and import. The Granger test showed causal relations between remittances and all other listed variables. We also found that remittances contributed to the exchange rate appreciation in the short and long-term perspectives by applying ARDL/ECM models. Additionally, the ARDL/ECM models showed that the exchange rate was significantly defined by its lagged values.

Suggested Citation

  • Ihor Oleksiv & Diana Mirzoieva, 2022. "Impact of Remittances on the Exchange Rate and Consumption: Evidence from Ukraine," Eastern European Economics, Taylor & Francis Journals, vol. 60(5), pages 418-432, September.
    • Handle: RePEc:mes:eaeuec:v:60:y:2022:i:5:p:418-432
    DOI: 10.1080/00128775.2022.2093751
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    Cited by:

    1. Imran Khan & Darshita Fulara Gunwant, 2023. "Is the remittance inflow to the Turkish economy sustainable? A glimpse of the future through the lens of the past," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 25(1), pages 34-51, June.
    2. Klose, Jens, 2024. "Empirical effects of sanctions and support measures on stock prices and exchange rates in the Russia–Ukraine war," Global Finance Journal, Elsevier, vol. 59(C).

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