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A gravity model of remittance determinants: evidence from Latin America and the Caribbean

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  • Scott McCracken
  • Carlyn Ramlogan-Dobson
  • Marie M. Stack

Abstract

A gravity model of remittance determinants: evidence from Latin America and the Caribbean. Regional Studies. This paper constructs a microeconomic model of the motivation for remittances and uses it to explore the macroeconomic determinants. In addition, a new measure of bilateral remittances is used to estimate a gravity model of remittances for 27 Latin American and Caribbean countries and 18 industrialized countries. The results suggest remittances are motivated by a combination of altruism and self-interest, both of which are encapsulated by economic and non-economic variables.

Suggested Citation

  • Scott McCracken & Carlyn Ramlogan-Dobson & Marie M. Stack, 2017. "A gravity model of remittance determinants: evidence from Latin America and the Caribbean," Regional Studies, Taylor & Francis Journals, vol. 51(5), pages 737-749, May.
    • Handle: RePEc:taf:regstd:v:51:y:2017:i:5:p:737-749
    DOI: 10.1080/00343404.2015.1133904
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    Cited by:

    1. Artatrana Ratha and Eungmin Kang, 2020. "Macroeconomic Determinants of International Remittances: Evidence from Time-Series and Panel Methods," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 45(3), pages 51-76, September.
    2. Giorgio Fagiolo & Tommaso Rughi, 2023. "Exploring the Macroeconomic Drivers of International Bilateral Remittance Flows: A Gravity-Model Approach," Economies, MDPI, vol. 11(7), pages 1-27, July.
    3. Nicole B. Simpson & Chad Sparber, 2020. "Estimating the Determinants of Remittances Originating from US Households Using CPS Data," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 46(1), pages 161-189, January.
    4. Junaid Ahmed & Mazhar Mughal & Inmaculada Martínez‐Zarzoso, 2021. "Sending money home: Transaction cost and remittances to developing countries," The World Economy, Wiley Blackwell, vol. 44(8), pages 2433-2459, August.
    5. Adriana R. Cardozo Silva & Luis R. Diaz Pavez & Inmaculada Martínez‐Zarzoso & Felicitas Nowak‐Lehmann, 2022. "The impact of COVID‐19 government responses on remittances in Latin American countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(4), pages 803-822, May.
    6. Dorsaf Sridi & Imene Guetat, 2020. "The direct and indirect risk impacts on remittances: A cross‐regional specific effects," African Development Review, African Development Bank, vol. 32(3), pages 288-302, September.

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