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Remittances Inflow and Economic Growth Nexus in Sub-Saharan Africa

2023
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Release : 2023
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Book Synopsis Remittances Inflow and Economic Growth Nexus in Sub-Saharan Africa by : Kitessa Terefe

Download or read book Remittances Inflow and Economic Growth Nexus in Sub-Saharan Africa written by Kitessa Terefe. This book was released on 2023. Available in PDF, EPUB and Kindle. Book excerpt: The challenge of 'growth' without development in most developing countries, particularly in the African region, has brought to the forefront the discussion of the effects of institutional quality and macroeconomic environment on the key determinants of growth and remittances inflows. This paper seeks to examine the capital inflow, here remittances, and economic growth nexus in Sub-Saharan African (SSA) countries with moderating role of institutional and macroeconomic stability: Employing a balanced panel data covering a sample of 32 countries over the period 2005 -2019, examined the hypothesis the effect of capital inflow on economic growth varies depending on the institutional quality of the recipient countries. To address the endogeneity problem, the study employed the system panel generalized method of moments (GMM) approach. The stationarity test for the unit root showed that all variables are integrated of order one, (I(1) and hence cointegrated. The dynamic panel data model and the granger causality test confirmed that there is bi-directional causality among remittance inflow, institutional quality and economic growth for the economy of SSA considering the macroeconomic environments. From the dynamic GMM model transparency and accountability in public sector augmenting with remittance inflows, property right interacted with remittance inflows and remittances interacted with policy index poses significant positive impact on per capita GDP growth. Thus, more has to be done on institutional quality and macroeconomic stability issues for their moderating roles for the effectiveness of the remittance inflows and hence their impact on the economic growth of the region.

Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa

2009-10-01 Business & Economics
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Release : 2009-10-01
Genre : Business & Economics
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Book Rating : 638/5 ( reviews)

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Book Synopsis Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa by : Kyung-woo Lee

Download or read book Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa written by Kyung-woo Lee. This book was released on 2009-10-01. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.

The Effect of International Remittances on Economic Growth in Sub-Saharan Africa

2022-09-05 Business & Economics
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Release : 2022-09-05
Genre : Business & Economics
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Book Rating : 051/5 ( reviews)

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Book Synopsis The Effect of International Remittances on Economic Growth in Sub-Saharan Africa by : Gashaw Atilaw

Download or read book The Effect of International Remittances on Economic Growth in Sub-Saharan Africa written by Gashaw Atilaw. This book was released on 2022-09-05. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2021 in the subject Economics - Economic Cycle and Growth, grade: 3.75 (good), Ethiopian Civil Service University, language: English, abstract: This paper is about the effect of international remittances of economic growth in sub-Saharan Africa. For many developing economies, remittances constitute the single largest source of foreign exchange, exceeding export revenues, foreign direct investment (FDI), and other private capital inflows. This study aims to examine the effect of international remittances on economic growth in SSA countries using a panel data approach. The System Generalized Method of Moments was used as the main model of analysis. The sample consists of 29 SSA countries for the period 2004-2019. The study findings show that international remittance has a positive and significant effect on economic growth in SSA. The study recommends that SSA countries should be designing policies and strategies that facilitate less costly and hassle-free flow of remittances into national development. There is a need to have well-established institutional frameworks to train, support, and ensure the welfare of emigrants abroad by the provision of information or services to assist migrant welfare and promote remittances and investment in the home country.

The Effects of Remittances on Economic Growth in Sub-Saharan Africa

2012* Developing countries
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Release : 2012*
Genre : Developing countries
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Book Synopsis The Effects of Remittances on Economic Growth in Sub-Saharan Africa by : Learnmore Muchemwa

Download or read book The Effects of Remittances on Economic Growth in Sub-Saharan Africa written by Learnmore Muchemwa. This book was released on 2012*. Available in PDF, EPUB and Kindle. Book excerpt:

Are Immigrant Remittance Flows a Source of Capital for Development?

2003-09-01 Business & Economics
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Release : 2003-09-01
Genre : Business & Economics
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Book Rating : 635/5 ( reviews)

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Book Synopsis Are Immigrant Remittance Flows a Source of Capital for Development? by : Mr.Ralph Chami

Download or read book Are Immigrant Remittance Flows a Source of Capital for Development? written by Mr.Ralph Chami. This book was released on 2003-09-01. Available in PDF, EPUB and Kindle. Book excerpt: The role of remittances in development and economic growth is not well understood. This is partly because the literatures on the causes and effects of remittances remain separate. We develop a framework that links the motivation for remittances with their effect on economic activity. Because remittances take place under asymmetric information and economic uncertainty, there exists a significant moral hazard problem. The implication is that remittances have a negative effect on economic growth. We test this prediction using panel methods on a large sample of countries. The results indicate that remittances do have a negative effect on economic growth, which indicates that the moral hazard problem in remittances is severe.

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