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<p>Emigration has been a persistent phenomenon accross many countries over time and, particularly in recent decades, in low and middle-income countries of the South-East European (SEE6) region, including Albania, Bosnia Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. This phenomenon is associated with large financial inflows from expatriate workers into their home countries, accounting for up to 48% of the GDP and composing a significant source of disposable income. In most cases the benefits, namely large financial inflows through remittances are translated into economic development of the recipient countries. Therefore, it is the objective of this study to investigate the impact of remittances and other determinants such as foreign direct investment, gross capital formation, and consumer prices index to the economic growth rate of SEE6 countries. An unbalanced data set over the period 2008–2021 is employed using fixed effects and random effects models, followed by the Hausman test to determine the best model results. The main findings of the study indicate a positive effect of remittance inflows on economic growth across the SEE6 countries. Specifically, a 1% increase in remittance inflows is associated with an approximately 0.5% increase in the economic growth rate. In contrast, a 10% increase in the consumer price index is associated with an estimeated 0.6% decline in the economic growth rate across the region.</p>

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Remittance Inflows and Economic Growth: Evidence from Southeast European Countries

  • 期刊论文

  • 发表日期：

    2026年1月27日

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  • Nevila Mehmetaj,
  • Merita Zulfiu Alili,
  • Elvisa Drishti

摘要

Emigration has been a persistent phenomenon accross many countries over time and, particularly in recent decades, in low and middle-income countries of the South-East European (SEE6) region, including Albania, Bosnia Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. This phenomenon is associated with large financial inflows from expatriate workers into their home countries, accounting for up to 48% of the GDP and composing a significant source of disposable income. In most cases the benefits, namely large financial inflows through remittances are translated into economic development of the recipient countries. Therefore, it is the objective of this study to investigate the impact of remittances and other determinants such as foreign direct investment, gross capital formation, and consumer prices index to the economic growth rate of SEE6 countries. An unbalanced data set over the period 2008–2021 is employed using fixed effects and random effects models, followed by the Hausman test to determine the best model results. The main findings of the study indicate a positive effect of remittance inflows on economic growth across the SEE6 countries. Specifically, a 1% increase in remittance inflows is associated with an approximately 0.5% increase in the economic growth rate. In contrast, a 10% increase in the consumer price index is associated with an estimeated 0.6% decline in the economic growth rate across the region.