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A gravity model of remittance determinants: evidence from Latin America and the Caribbean

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journal contribution
posted on 2016-08-19, 10:52 authored by Scott McCracken, Carlyn Ramlogan-Dobson, Marie M. Stack

A gravity model of remittance determinants: evidence from Latin America and the Caribbean. Regional Studies. This paper constructs a microeconomic model of the motivation for remittances and uses it to explore the macroeconomic determinants. In addition, a new measure of bilateral remittances is used to estimate a gravity model of remittances for 27 Latin American and Caribbean countries and 18 industrialized countries. The results suggest remittances are motivated by a combination of altruism and self-interest, both of which are encapsulated by economic and non-economic variables.

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