NDLI: Migrant ’ S Remittances and Economic Growth in Sub Saharan Africa : Evidence from Nigeria , Ghana and South Africa

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Migrant ’ S Remittances and Economic Growth in Sub Saharan Africa : Evidence from Nigeria , Ghana and South Africa

Content Provider	Semantic Scholar
Copyright Year	2013
Abstract	Department of Management technology, Federal university of technology, Owerri, Imo State, Nigeria Abstract This paper is an attempt to investigate the impact of migrant‟s remittances on economic growth in sub Saharan Africa with special reference to Nigeria, Ghana and South Africa. Two hypotheses were formulated to guide the study. Data was collected via a secondary source and E-views software package was used to analyze the data collected. Migrant‟s remittances were found to have impacted positively on the economic growth of the aforementioned economies. It was revealed that the greatest impact was on South Africa, followed by Ghana and Nigeria. In terms of causality relationships, migrant‟s remittances are seen to granger cause economic growth in South Africa and Ghana, though the impact was felt more in South Africa than in Ghana. The situation was different for Nigeria, where economic growth was seen to granger cause migrant‟s remittance. The above findings and conclusions informed the following recommendations: There is need for prudence in the management of funds sent home by migrants. Such monies are expected to be channeled into productive ventures and not for profligacy. To reap the full benefits of improved migrant‟s remittances, Sub Saharan Africa must create an investment climate that is alluring to Africans in the diaspora. Migrants are encouraged not only to remit more funds but to transfer the acquired knowledge and technologies back home. They are also expected to set up cottage industries in their home countries for the teeming unemployed youths. Lastly, there is equally the need for Sub Saharan economies to rely more on domestic rather than on foreign capital inflows (Be it official or private inflows) for their economic growth.
File Format	PDF HTM / HTML
Alternate Webpage(s)	https://journal-archieves28.webs.com/534-550.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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