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Remittances, Investment, and Economic Growth: Substitutability or Complementarity?

Author

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  • Cho, Jung-hwan

    (Sunchon National University, Republic of Korea)

Abstract

This study analyzes how overseas remittances can affect the economic growth of recipient countries through domestic investment. According to panel data of 162 countries for the period 2000-2020, remittances play a role in increasing economic growth through domestic investment. Additionally, when the sample countries are limited to low-income countries, remittances tend to have a positive effect on economic growth. However, the effect of remittances on economic growth is diminished when the level of domestic investment is low. Therefore, low-income countries should include remittances as a source of increased domestic investment in their implementation policy.

Suggested Citation

  • Cho, Jung-hwan, 2025. "Remittances, Investment, and Economic Growth: Substitutability or Complementarity?," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 50(1), pages 79-90, March.
    • Handle: RePEc:ris:jecdev:0109
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    More about this item

    Keywords

    Remittances; Economic Growth; Panel Data;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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