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Remittances at record highs in Latin America: Time to revisit the Dutch disease

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  • Arnoldo López-Marmolejo, Inter American Development Bank
  • ,
  • Carlos Vladimir Rodríguez-Caballero
  • Daniel Ventosa-Santaulària, CIDE, Centro de Investigacion y Docencia Economicas A.C. (CIDE), Mexico

With remittances reaching historic highs in many Latin American countries, this paper evaluates the existence of Dutch disease in that region on a country-by-country basis. To do so, we employ heterogeneous panel data models with cross-sectional dependence to estimate the determinants of the real exchange rate and calculate the effect of net remittance flows in the region by country. In this context, various countries' future economic development must address this potential loss of competitiveness.

Original languageEnglish
JournalEconomics Bulletin
Pages (from-to)2003-2011
Number of pages9
Publication statusPublished - 2021

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