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Duration of WTO Membership and Investment-Oriented Remittances Flows

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  • Gnangnon, Sèna Kimm

Abstract

This article examines the effect of the duration of the membership in the World Trade Organization (WTO) on investment-oriented remittances inflows (i.e., the portion of total remittances invested by remittance-receiving households in business activities). The analysis covers 120 countries over the period 1996-2019, and employs the two-step system generalized methods of moments estimator. It provides support for the hypothesis that by improving the stability and predictability of the business environment (i.e., by reducing tariffs volatility, trade uncertainty and economic uncertainty) would provide strong incentives to remittance-receiving households to invest a fraction of their total remittances in business activities. This positive effect of the membership duration on investment-oriented remittances inflows appears to strong for less developed countries. Additionally, longstanding WTO Members enjoy higher investment-oriented remittances inflows when they have large populations (a proxy for larger amounts of total remittances inflows), and experience high trade volumes, and a higher economic growth performance. These findings complement previous works that highlighted the relevance of the WTO in promoting the development of the private sector in its member states (including developing members and the poorest among them).

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  • Gnangnon, Sèna Kimm, 2022. "Duration of WTO Membership and Investment-Oriented Remittances Flows," EconStor Preprints 251274, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:251274
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    Cited by:

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    More about this item

    Keywords

    Duration of WTO membership; Investment-oriented remittances inflows; Tariffs volatility; Trade uncertainty; Economic uncertainty; Developing countries;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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