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Assessing the Causes of Remittance Flows to Guyana: A Macroeconomic Approach


Relative to GDP, Guyana is one of the largest recipients of remittance flows
in the world, receiving on average 17 percent of its GDP. In past decades,
these transfers have increased considerably compared with other inflows,
including foreign direct investment and international aid. Yet little is
known about what macroeconomic factors explain their movement, or how
they impact Guyana’s economy. This article investigates the macroeconomic
determinants of remittance flows to Guyana. We estimate a

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