Title: Nexus between macroeconomic factors and remittance inflow in presence of ICT penetration: a panel data analysis of Bangladesh economy

Authors: Md. Mahbubul Alam; Abir Hassan

Addresses: Department of Economics, Bangladesh University of Professionals (BUP), Bangladesh ' Department of Economics, Bangladesh University of Professionals (BUP), Bangladesh

Abstract: While the whole world was struggling and stumbling during the global pandemic, the economy of Bangladesh miraculously experienced a comparatively lower stagnation than its contemporaries, owing to a larger remittance inflow intertwined with the surge of ICT services. This study attempts to find the answer to this overwhelming performance considering the macroeconomic factors in host countries that are top in remittance outflow towards Bangladesh. The findings indicate significant positive effects of ICT, as well as macroeconomic factors like government expenditure, trade balance, and FDI on the remittance inflow of the recipient country. Despite being unique in perspective, the paper is confined to the usage of secondary data and limited data availability due to institutional constraints for a few countries. The paper concludes by prescribing an ICT-friendly infrastructure for both host countries and the recipient country, along with an emphasis on selected macroeconomic variables.

Keywords: remittance; ICT; macroeconomic factors; receiving country; host country; panel data; fixed effects; random effects; Bangladesh.

DOI: 10.1504/IJSEM.2024.139670

International Journal of Services, Economics and Management, 2024 Vol.15 No.4, pp.376 - 401

Received: 16 Oct 2022
Accepted: 17 Mar 2023
Published online: 05 Jul 2024 *

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