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The impact of remittances of overseas workers on Sri Lankan economy

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dc.contributor.author Aslam, A.L.M.
dc.contributor.author Sarifudeen, A.L.
dc.date.accessioned 2016-11-23T07:47:00Z
dc.date.available 2016-11-23T07:47:00Z
dc.date.issued 2015-11-18
dc.identifier.citation In Proceedings of 4th Annual International Research Conference – 2015, on “Innovative Perspective in Business, Finance and Information Management”, p 318. en_US
dc.identifier.isbn 978-955-627-065-5
dc.identifier.uri http://ir.lib.seu.ac.lk/handle/123456789/1852
dc.description.abstract The purpose of this study was to discover the impact of overseas workers‘ remittances on Sri Lankan economy. To achieve this purpose the time series data were used during the period of 1970 to 2013. Augmented Dickey Fuller (ADF) test was employed to test the stationary of the time series variables such as the remittances of overseas workers and gross domestic product in constant price. Here, the remittance of overseas workers was explanatory variable and the gross domestic product was considered as explained variable. The simple regression model was employed in this study to test the long run relationship between the variables. Based on the regression results, the coefficient of worker‘s remittances was positively impact on Sri Lankan economic growth. Therefore, there was direct relationship among the variables. P – Value of the remittances of overseas workers for long run relationship was less than 5% and the value of R – squared was 65%. This was higher than Durbin Watson test statistics. The residual of this model was stationary at 5% significant level. So, the conclusion was that the remittances of overseas workers and Gross Domestic Product were cointegrated at I(0) level form. In the meantime, this study found that the remittances of overseas workers did no maintain any relationship with Gross Domestic Product in the short run period. Therefore, this study explored that the remittances of overseas workers is one of the key factor of economic growth in Sri Lanka. en_US
dc.language.iso en_US en_US
dc.publisher Faculty of Management and Commerce South Eastern University of Sri Lanka (SEUSL). en_US
dc.subject Overseas workers en_US
dc.subject Economic growth en_US
dc.subject Gross domestic product en_US
dc.subject Foreign exchanges en_US
dc.subject Remittances en_US
dc.title The impact of remittances of overseas workers on Sri Lankan economy en_US
dc.type Article en_US


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