Panel Data_Rem_2002_2023_12.04.2025.xlsx

The paper examines the impact of remittances on nominal GDP growth in six Western Asian countries: Armenia, Georgia, Cyprus, Egypt, Turkey, and Azerbaijan. Based on annual data for the period 2002-2023, panel data models were built. The Two-Stage Least Squares (TSLS) method was used to eliminate the endogeneity problem. The estimation results show that remittances have a positive statistically significant impact on GDP. According to the Random Effects model, a 1% increase in remittances contributes to a 0.28% increase in GDP.