NDLI: Migrants ’ Remittances and Economic Growth in Sub-Saharan Africa

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Migrants ’ Remittances and Economic Growth in Sub-Saharan Africa

Content Provider	Semantic Scholar
Author	Baldé, Yéro
Copyright Year	2010
Abstract	Migrants’ Remittances to developing countries have exceeded 200 billion U.S. dollars according to the World Bank. Despite the importance of these flows, few studies have investigated their potential positive effects on economic development of the migrants’ origin countries. Specifically, Sub-Saharan Africa (SSA) has received little attention in studies and discussions on remittances. This could be explained by the relatively small share of remittances received by this region, only 6% of remittance flows to developing countries in 2008. Studies on this subject have been mostly in the form of case studies at the microeconomic level of individual countries or in the form of reports even if the region receives 21 billion dollars of remittances with an increase of almost 254% between 2003 and 2008 as estimated by the World Bank. The objective of our study is to contribute to the weak and recent literature on macroeconomic impact of migrants’ remittances in Sub-Saharan Africa by estimating the impact of remittances on the long term growth. Our sample consists of 28 SSA countries that have sufficient data for the period 1980-2004. Data are from World Development Indicators 2006 (World Bank) and various other data sources. We used Two Stage Least Stage (TSLS) instrumental variable method to estimate the growth equation. The econometric results show that remittances do not have direct positive impact on economic growth in SSA. However, remittances may have indirect positive impact on growth through several channels such as investment or education.
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://umdcipe.org/conferences/Maastricht/conf_papers/Papers/Remittances_and_Growth_in_SSA.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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