Les Transferts de Fonds Monétaires et les marchés boursiers dans les pays en développement

ZAAROUR, Fatma and AJIMI, Adnene (2021): Les Transferts de Fonds Monétaires et les marchés boursiers dans les pays en développement.

Abstract

Migrant remittances tend to be more stable, unlike other sources of external financing, making remittances a reliable source for developing countries. Thus, despite the upward trend in remittances, stock markets in developing countries are generally characterized by high volatility. This study seeks to determine the relationship between remittances and stock markets in developing countries. This paper covers the period 1996-2018 using the Panel-Var model. This estimate shows the existence of a positive and significant relation between remittances and stock markets as well as a bi-causal relationship. Also, remittances have been found to be counter-cyclical and follow the theory of pure altruism.

• Item Type: MPRA Paper
• English Title: Remittances and Stock Markets in Developing Countries
• Language: French
• Keywords: Shock, Panel-Var, remittances, migration, stock market.
• Subjects: F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment ; Long-Term Capital Movements; F - International Economics > F2 - International Factor Movements and International Business > F22 - International Migration; F - International Economics > F2 - International Factor Movements and International Business > F24 - Remittances; F - International Economics > F3 - International Finance > F32 - Current Account Adjustment ; Short-Term Capital Movements; G - Financial Economics > G0 - General > G01 - Financial Crises; G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets; G - Financial Economics > G1 - General Financial Markets > G19 - Other; J - Labor and Demographic Economics > J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers > J61 - Geographic Labor Mobility ; Immigrant Workers

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