School of Business and Economics, United International University, Dhaka-121, Bangladesh.
Research Article
World Journal of Advanced Research and Reviews, 2023, 18(01), 014-034
Article DOI: 10.30574/wjarr.2023.18.1.0535
Received on 21 February 2023; revised on 01 April 2023; accepted on 04 April 2023
The purpose of this research is to investigate the impact of economic policy uncertainty (EPU) and financial inclusion (FI) on remittances in India and China over the 15-year period beginning in the first quarter of 2003 and ending in the fourth quarter of 2019 using augmented ARDL, non-augmented ARDL, and the fourier causality test. The results of stationary tests demonstrate that variables are integrated in a non-linear fashion, indicating that variables become stationary at a level or after the first difference. The long-run connection in the empirical equation was established by the use of combined cointegration and the AARDL test. When looking at the long-run coefficients of EPU and FI, it was shown that there is a positive and statistically significant correlation between remittances inflows and the economy. An asymmetry connection between EPU, FI, and remittances was shown to exist in both the long-run and the short-run when using nonlinear estimates. The causality test also demonstrates that there are directional effects accessible between FDI, GLO, and remittances; however, the direction of these impacts varies depending on the economy. A robustness test was conducted in the research using dynamic OLS, completely modified OLS, and CCR regression.
Remittances; Economic Policy Uncertainty; Financial Inclusion; Augmented ARDL; Fourier Causality test
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Md. Qamruzzaman. Does economic policy uncertainty influences personal remittances: Evidences from AARDL and NARDL. World Journal of Advanced Research and Reviews, 2023, 18(1), 014-034. Article DOI: https://doi.org/10.30574/wjarr.2023.18.1.0535