Effect of Workers’ Remittances on Private Savings Behavior in Pakistan
Journal Title: Asian Economic and Financial Review - Year 2011, Vol 1, Issue 3
Abstract
The study empirically examined the macroeconomic impact of remittances onprivate savings in Pakistan by applying the ARDL Bounds Testing Approach of cointegration by using annual time series data for 1973-2007.It also analyzes theeffectiveness of remittances and foreign direct investment in promoting savings.The results reveal that worker remittances positively affect the private savings inPakistan in the long run and in the short run. So remittances are not only spent onbasic consumption needs, but are also either saved or invested. But the effect offoreign direct investment on private savings is negative because it is not directlyreached the poor households.
Authors and Affiliations
Rahila Munir| Ph. D Student, Department of Economics, University of Sargodha, Pakistan, Maqbool H. Sial| Dean and Professor, Department of Economics, University of Sargodha, Pakistan, Ghulam Sarwar| Ph. D Student, Department of Economics, University of Sargodha, Pakistan E-mail: sarwar41ss@hotmail.com, Samina Shaheen| Ph. D Student, Department of Economics, University of Sargodha, Pakistan
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