Can Remittances Drive Economic Growth? Evidence of Weak Spillovers and Strong Heterogeneity in South and Southeast Asia
This study of South and Southeast Asian economies from 2006 to 2023 finds that while remittances lack significant cross-border spillover effects, their impact on GDP per capita is highly heterogeneous and non-linear, turning negative in highly dependent countries and underscoring the greater importance of domestic structural conditions and regional trade and investment over remittance flows for economic growth.