NDLI: Are Workers' Remittances a Hedge Against Macroeconomic Shocks? The Case of Sri Lanka

Content Provider	Semantic Scholar
Author	Lueth, Erik Ruiz-Arranz, Marta
Copyright Year	2008
Abstract	This paper estimates a vector error correction model for Sri Lanka in order to determine the response of remittance receipts to macroeconomic shocks. This is the first attempt of its kind in the literature. The authors found that remittance receipts are pro-cyclical and decline when the country’s currency weakens, undermining their usefulness as a shock absorber. On the other hand, remittances increase in response to oil-price shocks, reflecting the fact that most overseas Sri Lankan are employed in the Persian Gulf States. The pro-cyclicality of remittances calls into question the notion that remittances are largely motivated by altruism.
Starting Page	25
Ending Page	39
Page Count	15
File Format	PDF HTM / HTML
DOI	10.18356/ea4f3e48-en
Volume Number	14
Alternate Webpage(s)	https://www.oecd-ilibrary.org/docserver/ea4f3e48-en.pdf?accname=guest&checksum=A8827CD14EE4FB9ECC25FED73C26B7AE&expires=1564692976&id=id
Alternate Webpage(s)	https://doi.org/10.18356/ea4f3e48-en
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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