AN EMPIRICAL ANALYSIS OF REMITTANCE DETERMINANTS, SOCIO DEMOGRAPHIC LINKAGES, AND ECONOMIC DEVELOPMENT IN PUNJAB

DOI: https://doi.org/10.5281/zenodo.19402569

Authors:

Ms. Priya, Dr. Jyotsna Sharma, Dr. Nidhi Aggarwal, Ms. Shivani

Keywords:

Remittances, Economic Development, Punjab, Socio-Demographic Factors, Migration

Abstract:

Remittances have been noted as a significant force in the development of the developing regions, particularly those states that experience a high level of migration, such as Punjab. The paper or the study investigates the determinants of remittance flow, the effects of socio demographic factors, and the consequences of remittances on economic development in an empirical manner. Primarily, a mixed-methodology was adopted, and the Exploratory Factor Analysis (EFA), Analysis of Variance (ANOVA), and Partial Least Squares Structural Equation Modeling (PLS-SEM) were used on the data collected after working with 400 participants. The findings indicate that governance, technology, and the use of remittances by the people exhibit a significant impact on the level of money flow inflows, whereas income factors do not. In addition, remittances significantly influence the growth of the economy in a positive way. According to the socio- demographic analysis, education, employment status, dependency ratio, and migration status will to a large extent determine the behavior of remittance, whereas age, gender, and residence will not. The paper highlights the unique remittance economy comprising the diaspora in Punjab and its implications for the economic development of the region. The findings will offer policymaking options to increase the use of remittances, strengthen financial systems, and promote inclusive development.

PDF