Remittances, savings, education and economic growth: system GMM estimation with multiple lags
| Variables | Coefficients |
|---|---|
| ΔlnGDPCit–1 | −0.0151 |
| (0.0124) | |
| [REMIT/GDP]it–1 | 0.0201 |
| (0.0324) | |
| [REMIT/GDP]it–2 | 0.0193 |
| (0.0369) | |
| [REMIT/GDP]it–3 | 0.0268** |
| (0.0125) | |
| [REMIT/GDP]it–4 | 0.0506** |
| (0.0218) | |
| [REMIT/GDP]it–5 | 0.0419** |
| (0.0210) | |
| [SAV/GDP]iit–1 | 0.0185 |
| (0.0171) | |
| [SAV/GDP]it–2 | 0.0159 |
| (0.0140) | |
| [SAV/GDP]it–3 | 0.0142 |
| (0.0151) | |
| [SAV/GDP]it–4 | 0.0169 |
| (0.0842) | |
| [SAV/GDP]it–5 | 0.0795* |
| (0.0476) | |
| EDUit–1 | 0.0702 |
| (0.0509) | |
| EDUit–2 | 0.0185 |
| (0.0165) | |
| EDUit–3 | 0.0878 |
| (0.0603) | |
| EDUit–4 | 0.0210* |
| (0.0106) | |
| EDUit–5 | 0.0845** |
| (0.0364) | |
| [REMIT*SAV/GDP]it–1 | 0.01630 |
| (0.0297) | |
| [REMIT*SAV/GDP]it–2 | 0.0261 |
| (0.0301) | |
| [REMIT*SAV/GDP]it–3 | 0.0472 |
| (0.4220) | |
| [REMIT*SAV/GDP]it–4 | 0.0158 |
| (0.0245) | |
| [REMIT*SAV/GDP]it–5 | 0.0208 |
| (0.0169) | |
| [REMIT*EDU]it–1 | 0.0633 |
| (0.0621) | |
| [REMIT*EDU]it–2 | 0.0109 |
| (0.0135) | |
| [REMIT*EDU]it–3 | 0.0324 |
| (0.0240) | |
| [REMIT*EDU]it–4 | 0.0858** |
| (0.0418) | |
| [REMIT*EDU]it–5 | 0.0476** |
| (0.0219) | |
| LNCOMMODPXit | 0.0481*** |
| (0.0178) | |
| POLREGIMEit | 0.0178*** |
| (0.0059) | |
| [AID/GDP]it | 0.00278 |
| (0.00351) | |
| [EXTDEBT/GDP]it | −0.00347*** |
| (0.00115) | |
| [FINDEVT/GDP]it | −0.00564 |
| (0.00592) | |
| INFLit | −0.0041 |
| (0.0095) | |
| Constant | −0.170** |
| (0.0817) | |
| Observations | 966 |
| Number of ctry_dum | 23 |
| Variables | Coefficients |
|---|---|
| ΔlnGDPCit–1 | −0.0151 |
| (0.0124) | |
| [REMIT/GDP]it–1 | 0.0201 |
| (0.0324) | |
| [REMIT/GDP]it–2 | 0.0193 |
| (0.0369) | |
| [REMIT/GDP]it–3 | 0.0268** |
| (0.0125) | |
| [REMIT/GDP]it–4 | 0.0506** |
| (0.0218) | |
| [REMIT/GDP]it–5 | 0.0419** |
| (0.0210) | |
| [SAV/GDP]iit–1 | 0.0185 |
| (0.0171) | |
| [SAV/GDP]it–2 | 0.0159 |
| (0.0140) | |
| [SAV/GDP]it–3 | 0.0142 |
| (0.0151) | |
| [SAV/GDP]it–4 | 0.0169 |
| (0.0842) | |
| [SAV/GDP]it–5 | 0.0795* |
| (0.0476) | |
| EDUit–1 | 0.0702 |
| (0.0509) | |
| EDUit–2 | 0.0185 |
| (0.0165) | |
| EDUit–3 | 0.0878 |
| (0.0603) | |
| EDUit–4 | 0.0210* |
| (0.0106) | |
| EDUit–5 | 0.0845** |
| (0.0364) | |
| [REMIT*SAV/GDP]it–1 | 0.01630 |
| (0.0297) | |
| [REMIT*SAV/GDP]it–2 | 0.0261 |
| (0.0301) | |
| [REMIT*SAV/GDP]it–3 | 0.0472 |
| (0.4220) | |
| [REMIT*SAV/GDP]it–4 | 0.0158 |
| (0.0245) | |
| [REMIT*SAV/GDP]it–5 | 0.0208 |
| (0.0169) | |
| [REMIT*EDU]it–1 | 0.0633 |
| (0.0621) | |
| [REMIT*EDU]it–2 | 0.0109 |
| (0.0135) | |
| [REMIT*EDU]it–3 | 0.0324 |
| (0.0240) | |
| [REMIT*EDU]it–4 | 0.0858** |
| (0.0418) | |
| [REMIT*EDU]it–5 | 0.0476** |
| (0.0219) | |
| LNCOMMODPXit | 0.0481*** |
| (0.0178) | |
| POLREGIMEit | 0.0178*** |
| (0.0059) | |
| [AID/GDP]it | 0.00278 |
| (0.00351) | |
| [EXTDEBT/GDP]it | −0.00347*** |
| (0.00115) | |
| [FINDEVT/GDP]it | −0.00564 |
| (0.00592) | |
| INFLit | −0.0041 |
| (0.0095) | |
| Constant | −0.170** |
| (0.0817) | |
| Observations | 966 |
| Number of ctry_dum | 23 |
Note(s): ***, **, * denote significance at 1, 5 and 10% levels respectively, Values in ( ) are robust standard errors
Source(s): Authors, 2024