<b>Assessing the Role of Remittances and Selected Major Macroeconomic Factors in South Asia's Economic Growth: Evidence from Panel Data Econometrics </b>

• DOI: 10.48165/sajssh.2024.6206
• Publication Date: 2025-04-07T13:36:23Z
• Authors: Md. Hazrat Ali; Sunamdeb Chandra ...; Mehedi Hasan; Shafika Rahman; Md. Saddam Hossain

This study investigates the role of remittances and major macroeconomic factors in driving economic growth South Asia, focusing on their interrelations contributions using panel data econometrics. The research employs a dataset 160 observations from World Bank, including variables such as GDP, remittances, exports, imports, consumption, capital formation, inflation. A random effects regression model is utilized, selected through Hausman test for its robustness over fixed approach. Stationarity tests confirm suitability analysis. Results reveal that positively significantly influence with 1% increase leading to 0.068% rise GDP. Exports imports also bolster GDP growth, while inflation exerts negative impact, highlighting critical need stability. However, foreign direct investment (FDI) shows association suggesting structural inefficiencies region's FDI landscape. constrained by absence informal remittance flows, which may comprehensiveness findings. results underscore policymakers optimize utilization, enhance trade policies, ensure stability sustain growth. Effective management can household welfare equity fostering inclusive development. provides nuanced analysis driver emphasizing interplay It offers actionable insights sustainable development region.