The Effect of Remittance on Human Development in the Organization of Islamic Cooperation Member Countries: Evidence from DCCE AND CS-ARDL

Document Type : Research Paper

Authors

1 Faculty of Business and Management, Universiti Sultan Zainal Abidin, 21300 Kuala Terengganu, Malaysia

2 Faculty of Maritime Study, Universiti Malaysia Terengganu, Malaysia

Abstract

This study examined the effect of remittance inflows on human development in the Organization of Islamic Cooperation (OIC) member countries from 1990 to 2018. The study applied second-generation techniques. Based on the results of the second-generation unit roots test, our variables had mixed stationarity. In addition, the result of the Westerlund cointegration technique showed that long-run relationships exist among the variables. In addition, the long-run and short-run coefficients from Dynamic Common Correlated Effects (DCCE) and Cross-Sectional Autoregressive Distributive Lags (CS-ARDL) techniques revealed that remittances inflows promote human development. Moreover, it was revealed that financial development and foreign direct investment inflows positively impact human development, while the short-run coefficients were statistically insignificant. The causality test results showed a unidirectional causal link between remittance inflows and human development and between financial development and human development. In contrast, a bidirectional causal link was demonstrated between foreign direct investment and human development. Therefore, the study concluded that remittance inflows promote human development in OIC member countries. The policymakers in OIC should consider policies that will attract migrant workers to send remittances to their home country.

Keywords

Main Subjects


Article Title [فارسی]

اثر وجوه حواله ای روی توسعه انسانی در کشورهای عضو سازمان همکاری سازمان: شواهدی مبتنی بر DCCE و CS-ARDL

Authors [فارسی]

  • کبیرو کامالو 1
  • وان حکیمه بنت وان ابراهیم 1
  • علی عمر احمد 2
1 دانشکده بازرگانی و مدیریت، دانشگاه سلطان زین العابدین، کوالا ترنگانو، مالزی
2 دانشکده مطالعات دریایی، دانشگاه مالزی ترنگانو، مالزی
Abstract [فارسی]

هدف از این مطالعه بررسی اثر جریان ورودی وجوه حواله ای روی توسعه انسانی در کشورهای عضو سازمان همکاری اسلامی بین سال های 1990 تا 2018 بود. به این منظور از تکنیک های نسل دوم استفاده شد. طبق نتایج آزمون نسل دوم ریشه واحد، متغیرهای پژوهش ماندگاری مرکب داشتند. به علاوه، نتایج تکنیک همگرایی وسترلاند نشان داد که روابط طولانی مدتی بین متغیرها وجود دارد. همچنین ضرایب بلندمدت و کوتاه مدت اثرات همبسته مشترک پویا (دی سی سی ایی) و وقفه های توزیعی اتورگرسیو مقطعی (سی اس-ای آر دی ال) نشان دادند که ورود وجوه حواله ای، توسعه انسانی را تقویت می کند. به علاوه، نشان داده شد که توسعه مالی و ورود سرمایه گذاری خارجی مستقیم به شکل مثبتی بر توسعه انسانی اثر می گذارند، در حالی که ضرایب کوتاه مدت از نظر آماری معنادار نبودند. نتایج آزمون علیت نشان داد که روابط علّی یک طرفه بین ورود وجوه حواله ای و توسعه انسانی و همچنین بین توسعه مالی و توسعه انسانی وجود دارد، در حالی که بین سرمایه گذاری خارجی مستقیم و توسعه انسانی یک رابطه علّی دوطرفه به دست آمد. بنابراین، این مطالعه به این نتیجه رسید که ورود وجوه حواله ای، توسعه انسانی در کشورهای عضو سازمان همکاری اسلامی را تقویت می کند. در آخر، به سیاستگذاران سازمان همکاری اسلامی توصیه می شود سیاست هایی برای جذب آن دسته از کارگران مهاجر اجرا کنند که وجوه حواله ای به کشورهای مبدأشان  می فرستند.

Keywords [فارسی]

  • اثرات همبسته مشترک پویا
  • وقفه های توزیعی اتورگرسیو مقطعی
  • توسعه انسانی
  • وجوه حواله ای
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