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Does remittance lead or lag exchange rate? evidence from Morocco

Rahmani, Halima and Masih, Mansur (2018): Does remittance lead or lag exchange rate? evidence from Morocco.

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Abstract

Studying the relationship between remittance and exchange rate is not a new trend in the empirical literature, however, most of these studies were conducted using classical regression and correlation and very few studies used the time series techniques to address the lead-lag relationship between remittance and exchange rate. We use Morocco as a case study. The findings confirm that the remittance has a long term theoretical relationship with the exchange rate and that remittance leads the exchange rate rather than the other way around. This conclusion implies that the role of remittances in the Moroccan economic development must be ever present in economic policy decisions and, especially, in the exchange rate policy going forward.

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