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dc.contributor.authorBeine, Michelen
dc.contributor.authorLodigiani, Elisabettaen
dc.contributor.authorVermeulen, Roberten
dc.date.accessioned2010-06-24-
dc.date.accessioned2010-08-18T11:19:23Z-
dc.date.available2010-08-18T11:19:23Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/39003-
dc.description.abstractRemittances have greatly increased during recent years, becoming an important and reliable source of funds for many developing countries. Therefore, there is a strong incentive for receiving countries to attract more remittances, especially through formal channels that turn to be either less expensive or less risky. One way of doing so is to increase their financial openness, but this policy option might generate additional costs in terms of macroeconomic volatility. In this paper we investigate the link between remittance receipts and financial openness. We develop a small model and statistically test for the existence of such a relationship with a sample of 66 mostly developing countries from 1980-2005. Empirically we use a dynamic generalized ordered logit model to deal with the categorical nature of the financial openness policy. We apply a two-step method akin to two stage least squares to deal with the endogeneity of remittances and potential measurement errors. We find a strong positive statistical and economic effect of remittances on financial openness.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3090en
dc.subject.jelE60en
dc.subject.jelF24en
dc.subject.jelF41en
dc.subject.jelO10en
dc.subject.ddc330en
dc.subject.keywordremittancesen
dc.subject.keywordfinancial opennessen
dc.subject.keywordgovernment policyen
dc.subject.stwRücküberweisung (Migranten)en
dc.subject.stwKapitalmarktliberalisierungen
dc.subject.stwOffene Volkswirtschaften
dc.subject.stwMakroökonomischer Einflussen
dc.subject.stwEU-Staatenen
dc.subject.stwSchwellenländeren
dc.titleRemittances and financial openness-
dc.typeWorking Paperen
dc.identifier.ppn630009260en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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