The main purpose of this paper is to study determinants of workers’ remittances especially the impact of country risk based on a regional comparison of 121 countries subdivided into six areas over the period 1984–2015. We consider possible direct and indirect effects of different risk indexes. We particularly focus on the comparison of the regional effect of economic, political, and financial risks on remittances. To capture these effects, region‐specific variables are introduced. The results show that remittances are more influenced by the risk indexes than other macroeconomic variables. Regional comparison indicates that remittance inflows are more sensitive to the different risks in the MENA region compared to other world regions. The financial risk is highlighted to have the largest impact on remittances in this region.

中文翻译：

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直接和间接风险对汇款的影响：跨地区的具体影响

本文的主要目的是基于对1984-2015年期间划分为六个区域的121个国家的区域比较，研究工人汇款的决定因素，尤其是国家风险的影响。我们考虑了不同风险指数可能产生的直接和间接影响。我们特别关注比较经济，政治和金融风险对汇款的区域影响。为了捕获这些影响，引入了特定于区域的变量。结果表明，与其他宏观经济变量相比，汇款受风险指数的影响更大。区域比较表明，与其他世界地区相比，中东和北非地区的汇款流入对不同风险更为敏感。突出显示该地区的金融风险对汇款影响最大。