Remittances from Migrant Workers and their Importance in Economic Growth

Remittances are a growing financial resource, considered more stable than other capital flows, needed to be understood and at the same time to be exploited in a positive and efficient direction, both at the macroeconomic level, through the impact on economic development of a country, but also at the microeconomic level, through the improvement on the life’s level and quality of people who receive this income from migrant workers. In this article we intended to analyze the impact of remittances on economic growth in Romania, one of the main countries in the European Union in terms of received remittances. The statistical analysis was conducted for the 2000-2016 period, the simple regression model was utilized and the least squares method was applied. The results of the study showed that remittances are significant in Romania and also have a positive impact on the economic development of the country.