Abstract
Using the recently developed Global Economic Conditions Index, a time-varying Granger causality approach, as well as relying on the monthly dataset from January 2002 to June 2021, we investigate both symmetric and asymmetric causality between the Global Economic Condition Index and remittances in Lebanon, a small open economy significantly reliant on remittances. Rather than being asymmetric, we find a statistically significant, symmetric, time-varying causality between the Global Economic Conditions Index and remittances. Several robustness tests validate our findings. Given this finding, we propose relevant policy recommendations.
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Conflict of interest: No conflict of interest to report.
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Research funding: No funding was received for this study.
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Data availability: Data will be made available on request.
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Articles in the same Issue
- Frontmatter
- Research Articles
- Corporate Governance, Bank Stability and Risk-Taking: Differences Between Conventional and Islamic Banks
- How Does Financial Inclusion Affect Bank Stability? Evidence from the Banking Sector in Ethiopia
- Time-Varying Causality Impact of Global Economic Conditions Index on Remittances in Lebanon
- The October 2023 Israel-Hamas Conflict: A Catalyst for Energy Transition
- Policy Note
- Quantifying the Economic Cost of the Qatar Blockade Using Synthetic Control
Articles in the same Issue
- Frontmatter
- Research Articles
- Corporate Governance, Bank Stability and Risk-Taking: Differences Between Conventional and Islamic Banks
- How Does Financial Inclusion Affect Bank Stability? Evidence from the Banking Sector in Ethiopia
- Time-Varying Causality Impact of Global Economic Conditions Index on Remittances in Lebanon
- The October 2023 Israel-Hamas Conflict: A Catalyst for Energy Transition
- Policy Note
- Quantifying the Economic Cost of the Qatar Blockade Using Synthetic Control