THE EFFECTS OF DEVALUATION OF CURRENCY ON ECONOMIC GROWTH THE MEDIATING ROLE OF REMITTANCES

http://dx.doi.org/10.31703/gssr.2022(VII-II).40      10.31703/gssr.2022(VII-II).40      Published : Jun 2
Authored by : Naveed Ali , Izhar Ul Hassan , Abdul Wahab

40 Pages : 410-420

References

  • Alper, A. M., & Neyapti, B. (2006). Determinants of Workers’ Remittances: Turkish Evidence from High-Frequency Data. Eastern European Economics, 44(5), 91–100. https://doi.org/10.2753/eee0012-8775440504
  • Aguirre, A., & Calderon, C. (2006). The effects of real exchange rate misalignments on economic growth. Santiago: Central Bank of Chile.
  • Barua, S., Majumder, A. & Akhtaruzzaman, M. (2007). Determinants of Workers’ Remittances in Bangladesh: An Empirical Study, Working Paper Series: WP 0713 (Bangladesh: Policy Analysis Unit (PAU), Bangladesh Bank).
  • Bouhga-Hagbe, J. (2004). A Theory of Workers’ Remittances with An Application to Morocco. IMF Working Papers, 04(194), https://doi.org/10.5089/9781451859898.001
  • Bourdet, Y., & Falck, H. (2006). Emigrants' remittances and Dutch disease in Cape Verde. International Economic Journal, 20(3), 267-284.
  • Connolly, M. (1983). Exchange Rates, Real Economic Activity and the Balance of Payments: Evidence from 1960s, In: E. Classen and P. Salin, (ed.) Recent Issues in the Theory of the Flexible Exchange Rates, North-Holland.
  • Cooper, R. (1971). Currency Devaluation in Developing Countries, In: G. Ranis (ed.) Government and Economic Development, New Haven: Yale University Press.
  • De Haas, H. (2007). U NRISD Programme on Social Policy and Development Paper, No 34, Geneva.
  • Dollar, D. (1992). Outward-oriented developing economies really do grow more rapidly: evidence from 95 LDCs, 1976- 1985. Economic development and cultural change, 40(3), 523-544.
  • Edwards, A. C., & Ureta, M. (2003). International migration, remittances, and schooling: evidence from El Salvador. Journal of development economics, 72(2), 429-461.
  • El-Sakka, M. I., & McNabb, R. (1999). The macroeconomic determinants of emigrant remittances. World Development, 27(8), 1493-1502.
  • Faini, R. (1994). Workers remittances and the real exchange rate: A quantitative framework, Journal of Population Economics, 7(2), 235–245.
  • Frenkel, R., & Taylor, L. (2006). Real exchange rate, monetary policy, and employment: development in a garden of forking paths . New York: UNDESA.
  • Goldberg, L. S. (1993). Exchange Rates and Investment in United States Industry. The Review of Economics and Statistics, 75(4), 575. https://doi.org/10.2307/2110011
  • Gupta, M. P. (2005). Macroeconomic determinants of remittances: evidence from India. International Monetary Fund.
  • Gylfason, T., & Risager, O. (1984b). Does devaluation improve the current account? European Economic Review, 25(1), 37–64. https://doi.org/10.1016/0014- 2921(84)90070-9
  • Hassan, G. M., & Holmes, M. J. (2013). Remittances and the real effective exchange rate . Applied Economics, 45(35), 4959-4970.
  • Higgins, M. L., Hysenbegasi, A., & Pozo, S. (2004). Exchange-rate uncertainty and workers' remittances. Applied Financial Economics, 14(6), 403-411.
  • Jadotte, E. (2009). International migration, remittances and labour supply: The case of the Republic of Haiti (No. 2009.28). Research paper/UNU-WIDER.
  • Steven, B. K. (1989). Devaluation, external balance and macroeconomic performance: A look at the numbers. Journal of International Economics, 27(3–4), 390. https://doi.org/10.1016/00221996(89)90069-x
  • Kireyev, M. A. (2006). The macroeconomics of remittances: the case of Tajikistan. International Monetary Fund.
  • Krueger, A. O. (1978). Foreign Trade Regimes and Economic Development: Liberalisation Attempts and Consequences. Cambridge, MA: Ballinger
  • Miotti, L., Mouhoud, E. M., & Oudinet, J. (2010). Determinants and Uses of Remittances toSouthern and Eastern Mediterranean Countries: Insights from a New Survey. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1619887
  • Nwanna, G. I. (1994). Currency Devaluation and Growth.” Economia-Internazionale, 47, 69-83.
  • Olubiyi, E. A., & Kehinde, K. O. (2015). Does Exchange Rate Affect Remittances in Nigeria?. The Review of Finance and Banking, 7(1),
  • Özden, C., & Schiff, M. (2006). International migration, remittances, and the brain drain. Washington, DC: World Bank and Palgrave Macmillan.
  • Prasad, E. S., Rajan, R. G., & Subramanian, A. (2007). Foreign capital and economic growth (No. w13619). National Bureau of Economic Research.
  • Ratha, D. (2003). Workers’ remittances: an important and stable source of external development finance. Remittances: Development impact and future prospects, 19-52.
  • Ratha, D. (2005). Workers’ remittances: an important and stable source of external development finance. Remittances: development impact and future prospects, 19-51.
  • Ratha, D. (2013). The impact of remittances on economic growth and poverty reduction. Policy Brief, 8, 1-13.
  • Razin, O., & Collins, S. M. (1999). Real Exchange Rate Misalignments and Growth. In The Economics of Globalization: Policy Perspectives from Public economics. Cambridge, New York and Melbourne: University Press
  • Ruiz-Arranz, M., & Giuliano, P. (2005). Remittances, Financial Development, and Growth. IMF Working Papers, 05(234), 1. https://doi.org/10.5089/9781451862539.001
  • Sawyer, C. W. & Sprinkle, R. L. (1987) “Contractionary effects of devaluation in Mexico” Social Science Quarterly, 68, 885-893.
  • Solimano, A. (2003). Workers remittances to the Andean Region: mechanisms, costs and development impact. Inter-American Development Bank.
  • Stahl, C. W., & Arnold, F. (1986). Overseas Workers’ Remittances in Asian Development. International Migration Review, 20(4), https://doi.org/10.2307/2545742
  • Stratan, A., Chistruga, M., Clipa, V., Fala, A., & Septelici, V. (2013). Development and side effects of remittances in the CIS countries: the case of Republic of Moldova.
  • Taylor, L., & Rosensweig, J. (1984). Devaluation, Capital Flows and Crowding Out: A CGE Model with Portfolio for Thailand.” Working Paper the World Bank. The World Bank, World Economic Report 1996.
  • Van Dalen, H. P., Groenewold, G., & Fokkema, T. (2005). The effect of remittances on emigration intentions in Egypt, Morocco, and Turkey. Population Studies, 59(3), 375-392.
  • Vargas-Silva, C. (2009). The Tale of Three Amigos: Remittances, Exchange Rates, and Money Demand in Mexico. Review of Development Economics, 13(1), 1–14. https://doi.org/10.1111/j.14679361.2008.00468.x
  • Yaseen, H. S. (2012). The Positive and Negative Impact of Remittances on Economic Growth in MENA Countries. The Journal of International Management Studies, 7(1), 7-14.

References

  • Alper, A. M., & Neyapti, B. (2006). Determinants of Workers’ Remittances: Turkish Evidence from High-Frequency Data. Eastern European Economics, 44(5), 91–100. https://doi.org/10.2753/eee0012-8775440504
  • Aguirre, A., & Calderon, C. (2006). The effects of real exchange rate misalignments on economic growth. Santiago: Central Bank of Chile.
  • Barua, S., Majumder, A. & Akhtaruzzaman, M. (2007). Determinants of Workers’ Remittances in Bangladesh: An Empirical Study, Working Paper Series: WP 0713 (Bangladesh: Policy Analysis Unit (PAU), Bangladesh Bank).
  • Bouhga-Hagbe, J. (2004). A Theory of Workers’ Remittances with An Application to Morocco. IMF Working Papers, 04(194), https://doi.org/10.5089/9781451859898.001
  • Bourdet, Y., & Falck, H. (2006). Emigrants' remittances and Dutch disease in Cape Verde. International Economic Journal, 20(3), 267-284.
  • Connolly, M. (1983). Exchange Rates, Real Economic Activity and the Balance of Payments: Evidence from 1960s, In: E. Classen and P. Salin, (ed.) Recent Issues in the Theory of the Flexible Exchange Rates, North-Holland.
  • Cooper, R. (1971). Currency Devaluation in Developing Countries, In: G. Ranis (ed.) Government and Economic Development, New Haven: Yale University Press.
  • De Haas, H. (2007). U NRISD Programme on Social Policy and Development Paper, No 34, Geneva.
  • Dollar, D. (1992). Outward-oriented developing economies really do grow more rapidly: evidence from 95 LDCs, 1976- 1985. Economic development and cultural change, 40(3), 523-544.
  • Edwards, A. C., & Ureta, M. (2003). International migration, remittances, and schooling: evidence from El Salvador. Journal of development economics, 72(2), 429-461.
  • El-Sakka, M. I., & McNabb, R. (1999). The macroeconomic determinants of emigrant remittances. World Development, 27(8), 1493-1502.
  • Faini, R. (1994). Workers remittances and the real exchange rate: A quantitative framework, Journal of Population Economics, 7(2), 235–245.
  • Frenkel, R., & Taylor, L. (2006). Real exchange rate, monetary policy, and employment: development in a garden of forking paths . New York: UNDESA.
  • Goldberg, L. S. (1993). Exchange Rates and Investment in United States Industry. The Review of Economics and Statistics, 75(4), 575. https://doi.org/10.2307/2110011
  • Gupta, M. P. (2005). Macroeconomic determinants of remittances: evidence from India. International Monetary Fund.
  • Gylfason, T., & Risager, O. (1984b). Does devaluation improve the current account? European Economic Review, 25(1), 37–64. https://doi.org/10.1016/0014- 2921(84)90070-9
  • Hassan, G. M., & Holmes, M. J. (2013). Remittances and the real effective exchange rate . Applied Economics, 45(35), 4959-4970.
  • Higgins, M. L., Hysenbegasi, A., & Pozo, S. (2004). Exchange-rate uncertainty and workers' remittances. Applied Financial Economics, 14(6), 403-411.
  • Jadotte, E. (2009). International migration, remittances and labour supply: The case of the Republic of Haiti (No. 2009.28). Research paper/UNU-WIDER.
  • Steven, B. K. (1989). Devaluation, external balance and macroeconomic performance: A look at the numbers. Journal of International Economics, 27(3–4), 390. https://doi.org/10.1016/00221996(89)90069-x
  • Kireyev, M. A. (2006). The macroeconomics of remittances: the case of Tajikistan. International Monetary Fund.
  • Krueger, A. O. (1978). Foreign Trade Regimes and Economic Development: Liberalisation Attempts and Consequences. Cambridge, MA: Ballinger
  • Miotti, L., Mouhoud, E. M., & Oudinet, J. (2010). Determinants and Uses of Remittances toSouthern and Eastern Mediterranean Countries: Insights from a New Survey. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1619887
  • Nwanna, G. I. (1994). Currency Devaluation and Growth.” Economia-Internazionale, 47, 69-83.
  • Olubiyi, E. A., & Kehinde, K. O. (2015). Does Exchange Rate Affect Remittances in Nigeria?. The Review of Finance and Banking, 7(1),
  • Özden, C., & Schiff, M. (2006). International migration, remittances, and the brain drain. Washington, DC: World Bank and Palgrave Macmillan.
  • Prasad, E. S., Rajan, R. G., & Subramanian, A. (2007). Foreign capital and economic growth (No. w13619). National Bureau of Economic Research.
  • Ratha, D. (2003). Workers’ remittances: an important and stable source of external development finance. Remittances: Development impact and future prospects, 19-52.
  • Ratha, D. (2005). Workers’ remittances: an important and stable source of external development finance. Remittances: development impact and future prospects, 19-51.
  • Ratha, D. (2013). The impact of remittances on economic growth and poverty reduction. Policy Brief, 8, 1-13.
  • Razin, O., & Collins, S. M. (1999). Real Exchange Rate Misalignments and Growth. In The Economics of Globalization: Policy Perspectives from Public economics. Cambridge, New York and Melbourne: University Press
  • Ruiz-Arranz, M., & Giuliano, P. (2005). Remittances, Financial Development, and Growth. IMF Working Papers, 05(234), 1. https://doi.org/10.5089/9781451862539.001
  • Sawyer, C. W. & Sprinkle, R. L. (1987) “Contractionary effects of devaluation in Mexico” Social Science Quarterly, 68, 885-893.
  • Solimano, A. (2003). Workers remittances to the Andean Region: mechanisms, costs and development impact. Inter-American Development Bank.
  • Stahl, C. W., & Arnold, F. (1986). Overseas Workers’ Remittances in Asian Development. International Migration Review, 20(4), https://doi.org/10.2307/2545742
  • Stratan, A., Chistruga, M., Clipa, V., Fala, A., & Septelici, V. (2013). Development and side effects of remittances in the CIS countries: the case of Republic of Moldova.
  • Taylor, L., & Rosensweig, J. (1984). Devaluation, Capital Flows and Crowding Out: A CGE Model with Portfolio for Thailand.” Working Paper the World Bank. The World Bank, World Economic Report 1996.
  • Van Dalen, H. P., Groenewold, G., & Fokkema, T. (2005). The effect of remittances on emigration intentions in Egypt, Morocco, and Turkey. Population Studies, 59(3), 375-392.
  • Vargas-Silva, C. (2009). The Tale of Three Amigos: Remittances, Exchange Rates, and Money Demand in Mexico. Review of Development Economics, 13(1), 1–14. https://doi.org/10.1111/j.14679361.2008.00468.x
  • Yaseen, H. S. (2012). The Positive and Negative Impact of Remittances on Economic Growth in MENA Countries. The Journal of International Management Studies, 7(1), 7-14.

Cite this article

APA

    APA : Ali, N., Hassan, I. U., & Wahab, A. (2022). The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances. Global Social Sciences Review, VII(II), 410-420. https://doi.org/10.31703/gssr.2022(VII-II).40

CHICAGO

    CHICAGO : Ali, Naveed, Izhar Ul Hassan, and Abdul Wahab. 2022. "The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances." Global Social Sciences Review, VII (II): 410-420 doi: 10.31703/gssr.2022(VII-II).40

HARVARD

    HARVARD : ALI, N., HASSAN, I. U. & WAHAB, A. 2022. The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances. Global Social Sciences Review, VII, 410-420.

MHRA

    MHRA : Ali, Naveed, Izhar Ul Hassan, and Abdul Wahab. 2022. "The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances." Global Social Sciences Review, VII: 410-420

MLA

    MLA : Ali, Naveed, Izhar Ul Hassan, and Abdul Wahab. "The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances." Global Social Sciences Review, VII.II (2022): 410-420 Print.

OXFORD

    OXFORD : Ali, Naveed, Hassan, Izhar Ul, and Wahab, Abdul (2022), "The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances", Global Social Sciences Review, VII (II), 410-420

TURABIAN

    TURABIAN : Ali, Naveed, Izhar Ul Hassan, and Abdul Wahab. "The Effects of Devaluation of Currency on Economic Growth: The Mediating Role of Remittances." Global Social Sciences Review VII, no. II (2022): 410-420. https://doi.org/10.31703/gssr.2022(VII-II).40