Abstract

CHAMORRO-GARCIA, Andrés Fernando  and  HERNANDEZ-GARCIA, Edwin Arbey. Remittances and Regional Economic Growth in Colombia 2009-2016: A Panel Data Application. Apuntes del Cenes [online]. 2019, vol.38, n.68, pp.213-245. ISSN 0120-3053.  https://doi.org/10.19053/01203053.v38.n68.2019.8576.

The main objective of the article is to determine the impact of remittances on the economic growth of the regions in Colombia, taking into account the panel data structure for the period 2009-2016. We use the data of international remittance income from the Banco de la República and the Gross Domestic Product of the Colombian regions published by the Departamento Administrativo Nacional de Estadística (DANE), from which econometric equations are assessed using the estimator of fixed effects corrected by autocorrelation and heteroskedasticity for panel data. The results show a positive and significant effect of remittances on regional economic growth.

Keywords : remittances; economic growth; regional economics; panel data.

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