Impact of Remittances on the Economic Growth in the Transitional Economies of the European Union

Bayar, Yilmaz
July 2015
Petroleum - Gas University of Ploiesti Bulletin, Technical Serie;2015, Vol. 67 Issue 3, p1
Academic Journal
The remittances became one of the major financing sources for the developing countries in the globalized world. This study examines the causal relationship among the real GDP per capita growth, personal remittances received and net foreign direct inflows in the transition economies of the European Union including Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Poland, Romania, Slovak Republic and Slovenia during the period 1996-2013 by using Dumitrescu and Hurlin (2012) causality test. We found that there was unidirectional causality from remittances and foreign direct investment inflows to the economic growth.


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