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

Authors

  • Durdana Qaiser Gillani Department of Economics, Preston University-Kohat, Islamabad Campus, Islamabad, Pakistan
  • Ms Fouzia The Government College for Women, Satellite Town, Gujranwala, Pakistan
  • Muhammad Atif School of Integrated Social Sciences, The University of Lahore, Sargodha Campus, Sargodha, Pakistan
  • Mudassar Yasin MNS-University of Agriculture, Multan, Pakistan
  • Haroon Javaid University of Sargodha, Sargodha, Pakistan
  • Iqbal Javed Department of Economics, University of Lahore, Sargodha Campus, Pakistan

DOI:

https://doi.org/10.52223/jess.2023.4213

Keywords:

Remittances, Foreign Aid, Financial Development, Human Development, Asian Countries

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.

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Published

2023-08-30

How to Cite

Gillani, D. Q., Fouzia, M., Atif, M., Yasin, M., Javaid, H., & Javed, I. (2023). Role of Foreign Remittances, Foreign Aid and Financial Development in Determining Human Development of Selected Asian Countries. Journal of Education and Social Studies, 4(2), 366–372. https://doi.org/10.52223/jess.2023.4213

Issue

Section

Research Articles