Work

Role of Foreign Remittances, Foreign Aid and Financial Development in Determining Human Development of Selected Asian Countries

Year: 2023

Type: article

Abstract: Foreign Remittances play a key role in improving growth and development in economies. The inflow of global remittance in developing economies has been observed as increasing extremely since 1990. This study analyzed the impact of remittances, foreign aid, and financial development on human development in selected Asian countries. We have used a random effect technique in this research. Our study results highlight that increased remittances and foreign aid have enhanced living standards and human development in the concerned Asian economies. Moreover, the role of financial development is to contribute towards human development along with increased urban population. Considering the study results, it is recommended that there should be much focus on remittances inflow in Asian economies. These countries must attract more aid by improving their growth and development policies. There should be more access to easy credit facilities for high investments and employment opportunities for the masses in these countries.

Source: Journal of Education and Social Studies

DOI: 10.52223/jess.2023.4213

Authors: Durdana Qaiser Gillani, Ms Fouzia, Muhammad Atif, Mudassar Yasin, Haroon Javaid, Iqbal Javed

Institutions: Preston University, University of Lahore, Muhammad Nawaz Shareef University of Agriculture, University of Sargodha

Language: English

Topic: Migration and Labor Dynamics

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

SDGs: Partnerships for the goals, Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W4386569360

FWCI: 0.893

Cites: 28

Cited by: 3

Related to: 10