Faculty of Economics
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Item type:Publication, The Impact of Remittances on Domestic Investment and Consumption Expenditures: The Case of North Macedonia(Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2025-12) - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Effects of Remittances on Poverty and Inequality Alleviation in Selected Central and South-East European Countries(University of Belgrade, Faculty of Economics and Business, 2023); ; In recent decades, the countries from Central and South-Eastern Europe (CESEE) have experienced sizeable emigration, accompanied by growing remittance inflows. In some countries, especially developing countries, remittances present a significant source of foreign exchange inflow and of income for poorer families. However, empirical research on the impact of remittances on poverty and inequality has yielded mixed results. Most studies find that remittances help alleviate poverty, while the impact on inequality is more ambiguous. This paper empirically examines the impact of remittances on poverty and inequality in 16 countries from the CESEE region. Using the Generalized Method of Moments, we evaluate two specific panel regression models for the impact of remittances on poverty and income inequality in this group of countries, accounting for the different levels of economic development and different macroeconomic and institutional settings. In addition, the paper also examines whether different institutional quality impacts poverty and inequality. The paper’s preliminary results indicate that remittances reduce poverty and inequality in the analyzed countries. The results of this paper could have significant implications for policymakers. Given that institutions appear to be important in the way remittances are used and for the benefits that they provide, the best way for governments to ensure that remittances play a role in reducing poverty and income inequality is to foster better institutional quality. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Impact of Remittances on Economic Growth in Western Balkans - A Panel Approach(Ss Cyril and Methodius University in Skopje, Faculty of Economics - Skopje, 2021-11-13); ; ; The migration is one of the constitutive features of Western Balkans’ historical specificity, which significantly changed Balkan societies in the last two centuries. One crucial effect of intensive emigration is high remittances. Cross-country analyses and evidence from household surveys suggest that migration and remittances reduce poverty in the origin communities. In addition, remittances lead to increased investment in education, health, and small businesses. The diaspora can be a source of capital, investment, knowledge, and technology transfer. The inflow of remittances can contribute to the economic development of the remittance-receiving country, provided that the country can use these funds to finance investments that will enable it to produce export or investment goods to replace imports. This paper examines the impact of remittances on economic growth in the Western Balkans (North Macedonia, Serbia, Albania, Kosovo, Montenegro, and Bosnia and Herzegovina) last two decades. The relationship between economic growth, remittances, final household consumption, domestic investments, and trade is examined through a panel approach. The paper uses annual data obtained from the World Bank World Development Indicators. The results of the empirical analysis help determine the relationship between remittances and economic growth and provide a solid base for policymakers to direct remittances into productive investments. The general conclusion for the region is the need to implement policies that will strengthen the financial system to enable a more significant positive impact of remittances from migrants on economic growth. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Remittances, Institutions, and Economic Growth: The Case of the European Union(Eurasia Business and Economics Society, 2022-07); Theoretical and empirical research on the impact of remittances on the economy has produced very different results. International remittances stimulate economic growth for many countries, mainly by increasing national disposable income. The paper empirically investigates the role of remittances and institutions in the economic growth of the 27 member states of the European Union (EU) from 1995-to 2019. The selected group of countries includes countries from different levels of economic development and countries from the former socialist system, countries that are in transition, countries that have successfully overcome that process, and traditionally capitalist countries with different quality of institutions. Using the generalized method of moments (GMM) in a data analysis panel, we found evidence that institutions play an essential role in how remittances affect economic growth. It has been found that a healthy institutional environment affects the volume and efficiency of investments; hence, in the presence of good institutions, remittances could be channeled more efficiently, which will eventually lead to greater output. The paper also proves that with better institutional quality in the country, the effect of remittances and other economic and financial activities is more pronounced. Thus, to the extent that policies that promote greater freedom of economic activity are promoted, national economies will benefit more from remittances.