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On the Sustainable Economic Growth in Sub-Saharan Africa: Do Remittances, Human Capital Flight, and Brain Drain Matter?
| Content Provider | MDPI |
|---|---|
| Author | Behiye, Çavuşoğlu Usman, Mohammed A. M. Ozdeser, Huseyin Aliyu, Umar Shuaibu |
| Copyright Year | 2022 |
| Description | To solve the active macroeconomic challenges of remittances, human capital flight, and brain drain facing Sub-Saharan Africa (SSA) from the perspective of costs and benefits tradeoffs for achieving Sustainable Development Goal eight (SDGs-8) targets by 2030 and the recipient communities’ wellbeing, this study investigates the sustainable economic growth in SSA: Do remittances, human capital flight, and brain drain matter? Autoregressive-Distributive Lag (ARDL) and the Error-Correction Mechanism (ECM) were used. Thus, this research is led by push–pull, altruism, and social network theories. The ARDL showed that remittances and trade positively affect economic growth. However, human capital flight, poverty, corruption, and inequality negatively affect economic growth. The co-efficient of $ECT_{t−1}$ is ascertained to be negative (−0.266282) with a significant statistical value of 1% (i.e., 0.0123). Therefore, the annual requirement to restore equilibrium convergence is 26.62%. The study concludes that SSA may achieve their sustainable economic growth target, particularly by formalizing remittances and human capital flight and brain drain into the financial, economic system in SSA by 2030, since restoration to long-term convergence will take less than nine years. Enabling a labor market that offers decent work and wages, along with trade and remittance policies for sustainable growth, are recommended. |
| Starting Page | 2117 |
| e-ISSN | 20711050 |
| DOI | 10.3390/su14042117 |
| Journal | Sustainability |
| Issue Number | 4 |
| Volume Number | 14 |
| Language | English |
| Publisher | MDPI |
| Publisher Date | 2022-02-12 |
| Access Restriction | Open |
| Subject Keyword | Sustainability Environmental Engineering Remittances Human Capital Flight and Brain Drain Economic Growth Panel Ardl Ssa Sdgs |
| Content Type | Text |
| Resource Type | Article |
