우리나라 해외송금 유출 결정요인 분석
A Study on Determinants of Remittance Outflows: The Case of Korea
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본 연구는 우리나라 해외송금 유출 결정요인을 분석한다. 한국이 해외노동 유입국(해외송금 유출국)으로서 23개 해외노동 유출국(해외송금 유입국)으로 보내지는 해외송금 유출 결정요인을 1990년부터 2020년까지 패널 자료를 이용한 분석한 것이다. Ratha and Shaw (2007)의 연구에서 제안한 양국간 해외송금 자료를 추정하여 분석한 결과에 의하면 우리나라 해외송금 유출은 이타적 동기보다는 투자적 동기에 의해서 영향을 받는 것으로 나타났다. 즉 해외노동 유출국의 1인당 소득이 증가할수록 한국에서 본국으로의 해외송금 규모가 증가하는 것으로 분석되었다. 또한 본국에서의 실업률이 증가할수록 해외송금 유입은 감소하는 것으로 분석되었다. 양국간 실질 이자율의 차는 본국으로의 해외송금 유입을 제한하는 요인으로 작용하는 것으로 나타났다. 이러한 분석 결과는 해외송금의 결정요인과 관련해서 우세한 동기가 일반화될 수 없으며 국가별로 차이가 있음을 시사한다. 향후 연구에서는 거시경제적 요인과 가계의 미시적 특성을 반영한 분석 모델과 방법이 필요하다.
Abstract
This study analyzes the determinants of outward remittance flow in Korea. We examine the determinants of outward remittances sent by Korea as a labor-receiving country to 23 labor-sending countries using panel data from 1990 to 2020. By Estimating the bilateral remittance proposed by Ratha and Shaw (2007), the results show that Korean remittance outflows are driven by investment motives rather than altruistic motives. That is, as the per capita income of the labor-sending country increases, the remittance flows in their countries increase, and as the unemployment rate in the home country increases, the remittance flows decrease. The difference in real interest rates between Korea and 23 labor-sending countries is a limiting factor for the inflow of remittances to the home country. These findings suggest that the prevailing motivations for the determinants of remittances cannot be generalized across countries, and vary by country. Future research needs analytical models and methods that incorporate macroeconomic factors and households’ micro-characteristics.
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