IMPACT OF WORKER’S REMITTANCE ON ECONOMIC GROWTH OF PAKISTAN
Keywords:
Foreign Remittances, Economic Growth, GDP, Growth Rate, FDI, ODI, MigrantAbstract
International remittances that migrant workers send back to their home countries have a profound impact on developing countries. Remittances are facing the changes that GDP brings. Examining how Pakistan’s GDP affects the value of its currency is the central objective of this piece. Theoretically, high exchange rates indicate rapid economic expansion, which is linked to the expectation of future prosperity. This study aims to answer the question of whether remittances from abroad play a role in the rise of Pakistan’s GDP per capita. The literature is broken up into three sections based on the context and data collected over a 16-year period, from 2006 to 2022. Confirmation by a multiple regression approach. We looked at a study that tried to figure out how remittances affect GDP growth (the dependent variable) (GDP). A strategy based on prior practise is used to collect secondary quantitative data. In this study, we take a look at how worker remittances influence the expansion of an economy. The study that is being provided here serves as a statistical approach because it is based on time series data and experimental regression. It was discovered that the worker contributes to the expansion of Pakistan’s economy in some way.
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