A Dynamic Model on the Effect of Remittances and Funds Supply within the Economic Progress in the Israel Essay

De La Salle University – Manila

School of Economics

Economics Department

A Dynamic Unit on the Effect of Remittances and Money Supply on the Financial Growth in the Philippines

In Partial Fulfillment

Of the Course Requirements in

ECOMET2 V24

2nd term, Academic 12 months 2012-2013

Shown to

Dr . Cesar Rufino

Presented by simply

Ching, Mr. bieber

Mamawal, Erle Virgilia

Pascual, Jane Camille

Table of Contents

We. Introduction

1 . Backdrop of the Study................................................................................. 3 2 . Objectives........................................................................................................ five 3. Value of the Analyze.................................................................................. 5 5. Scope and Limitations....................................................................................... 6

II. Report on Related Materials

1 . Labor Immigration and Remittances.................................................................... 7 2 . The Inflow of Remittances and its role in the Economy.................................. 8 3. Labor Migrants and Remittances in the Philippines....................................... 15 4. Financial Policy as well as its Role.......................................................................... 16 5. Money Supply................................................................................................. 15

III. Assumptive Framework

1 . Time-honored or Developmentalist Theory............................................................ 17 2 . Relaxed Contracts.......................................................................................... seventeen 3. Monetary theory.............................................................................................. 18 IV. Technique

A. Data Factors....................................................................................................... 20 N. Initial Checks............................................................................................................ 21 1 ) Initial Regression............................................................................................ 21 2 . Unit Main Test................................................................................................. twenty-two 3. Spurious Regression........................................................................................ 28 4. Cointegration Test........................................................................................... up to 29 5. Maximum Lag Structure..................................................................................... 30 six. Causality Test out.................................................................................................. 31

C. Stationary Models........................................................................................................ thirty-two 1 . OLS Regression.............................................................................................. 32 2 . Test for Multicollinearity............................................................................... 33 several. Test to get Autocorrelation................................................................................. thirty-three 4. A static correction Measure for Autocorrelation......................................................... thirty four 5. Benefits of the Model....................................................................................... 35

D. Dynamic Models

1 . Koyck Infinite Sent out Lag Model………………………………... …… thirty six 2 . Two Stage Least Squares (2SLS)………………………………………... … 40

V. Summary................................................................................................................. 44

Bibliography

I. LAUNCH

Background with the Study

The Philippines has become a major...

Bibliography: The Inflow of Remittances and its Part in the Economy

The role of remittance as well as its potential in boosting financial growth was already recognized at the start of the 1980s (Strauhaar and Vadean, 2006)

Total Application of New Hires | 338, 266 | 331, 752 | 340, 279

Source: Philippine Overseas Employment Administration (POEA) – offered by Arroyo (2011)



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