Remittances and regional economic growth in Colombia 2009 - 2016: a panel data application

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. Are used the data of international remittance income from the Banco de la República and the Gross Dome...

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Bibliographic Details
Main Authors: Chamorro-García, Andrés Fernando, Hernandez Garcia, Edwin Arbey
Format: Online
Language:spa
Published: Universidad Pedagógica y Tecnológica de Colombia 2019
Subjects:
Online Access:https://revistas.uptc.edu.co/index.php/cenes/article/view/8576
Description
Summary: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. Are used 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 estimated using the estimator of fixed effects corrected by autocorrelation and heteroscedasticity for panel data. The results show a positive and significant effect of remittances on regional economic growth.