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Do Remittance Inflows Promote Manufacturing Growth?
Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
2013 (English)In: The annals of regional science, ISSN 0570-1864, E-ISSN 1432-0592, Vol. 51, no 1, p. 89-111Article in journal (Refereed) Published
Abstract [en]

Studies show that manufacturing growth is fundamental to sustained economic growth and development. However, recent Dutch disease perspective studies suggest that remittance inflows have the potential to impede manufacturing growth of the recipient economies. This paper contributes to the literature by investigating the effect of remittance inflows on manufacturing growth directly. The main claim of the paper is that the Dutch disease perspective identifies only one of the several channels through which remittance inflows impacts on manufacturing growth and hence unlikely to reflect the ultimate impact of remittances on manufacturing growth. This study uses the 3-digit level manufacturing data on a sample of 40 remittance-dependent economies over the period from 1991 to 2004. The empirical results indicate positive and robust effect of remittance inflows on manufacturing growth. This finding implies that one of the mechanisms through which remittance inflows could lift standards of living in poor countries is via the impact on manufacturing growth.

Place, publisher, year, edition, pages
2013. Vol. 51, no 1, p. 89-111
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-17701DOI: 10.1007/s00168-012-0529-xOAI: oai:DiVA.org:hj-17701DiVA, id: diva2:505128
Available from: 2012-02-23 Created: 2012-02-23 Last updated: 2017-12-07Bibliographically approved
In thesis
1. Essays on Financing and Returns on Investment
Open this publication in new window or tab >>Essays on Financing and Returns on Investment
2011 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This dissertation consists of an introductory chapter and three independent essays on financing investment and their returns. The first essay studies the impact of remittances on domestic investment. The analysis is carried out with a focus on the moderating roles of domestic financial development and institutional quality. The empirical results suggest that remittance inflows are associated with increased domestic investment spending, particularly under conditions of inadequate financial intermediation and poor institutional quality. The second essay evaluates whether remittance inflows into the developing world impedes or spurs manufacturing growth. This study uses manufacturing data on a sample of 40 remittance dependent economies over the period from 1991 to 2004. The results suggest that remittance inflows accelerate manufacturing growth. This evidence is robust to industry- and year-specific effects, a range of country level control variables, and a number of estimators. The final essay examines the monitoring role of large shareholders and returns on investment. Specifically, the paper investigates the relevance of intrinsic motives of the large shareholder to monitor management in order to induce optimal return on investment. The findings suggest that large shareholders are actuated by both intrinsic and extrinsic motives to minimize managerial opportunism and inefficiency.

Place, publisher, year, edition, pages
Jönköping International Business School, 2011. p. 165
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 74
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-17704 (URN)978-91-86345-25-9 (ISBN)
Opponent
Supervisors
Available from: 2012-02-23 Created: 2012-02-23 Last updated: 2012-02-23Bibliographically approved

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Dzansi, James

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CiteExportLink to record
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