Remittances at record highs in Latin America: Time to revisit the Dutch diseas
Daniel Ventosa, Profesor Investigador Titular de la División de Economía del CIDE, Arnoldo López-Marmolejo y Carlos Vladimir Ródriguez-Caballero escribieron el artículo Remittances at record highs in Latin America: Time to revisit the Dutch diseas en la revista Economics Bulletin.
Abstract
With remittances reaching historic highs in many Latin American countries, this paper evaluates the existence of Dutch disease in that region on a country-by-country basis. To do so, we employ heterogeneous panel data models with cross-sectional dependence to estimate the determinants of the real exchange rate and calculate the effect of net remittance flows in the region by country. In this context, various countries’ future economic development must address this potential loss of competitiveness.
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