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The Effect Of International Remittances On Economic Growth In Sub Saharan Africa
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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 and published by GRIN Verlag. This book was released on 2022-09-05 with total page 81 pages. 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.
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 and published by International Monetary Fund. This book was released on 2009-10-01 with total page 28 pages. 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.
Book Synopsis The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages by : Hector Perez-Saiz
Download or read book The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages written by Hector Perez-Saiz and published by International Monetary Fund. This book was released on 2019-08-16 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a simple macroeconomic model with input-output sectoral linkages based on Acemoglu et al. (2016) to quantify how changes in aggregate demand due to additional income from household’s remittances propagates through the network of input-output linkages in Sub-Saharan African countries. We first propose two network centrality measures to assess the role of some sectors as key input providers in the economy. Then, we use these measures to quantify the effect of sectoral linkages on sectoral and total output following an increase in remittances inflows. Our empirical results suggest that the effects of remittances on recipient economies increase with the degree of linkages across sectors, which is especially prominent in the case of the financial intermediation sector. Our paper contributes to the emerging macroeconomic literature on the propagation of shocks across sectors and the implications for the whole economy.
Book Synopsis International remittances and the household : analysis and review of global evidence by : Richard H. Adams
Download or read book International remittances and the household : analysis and review of global evidence written by Richard H. Adams and published by World Bank Publications. This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper examines the economic impact of international remittances on countries and households in the developing world. To analyze the country-level impact of remittances, the paper estimates an econometric model based on a new data set of 115 developing countries. Results suggest that countries located close to a major remittance-sending region (like the United States, OECD-Europe) are more likely to receive international remittances, and that while the level of poverty in a country has no statistical effect on the amount of remittances received, for those countries which are fortunate enough to receive remittances, these resource flows do tend to reduce the level and depth of poverty. At the household level, a review of findings from recent research suggest that households receiving international remittances spend less at the margin on consumption goods-like food-and more on investment goods-like education and housing. Households receiving international remittances also tend to invest more in entrepreneurial activities.
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 and published by International Monetary Fund. This book was released on 2003-09-01 with total page 49 pages. 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.
Download or read book Global Economic Prospects 2006 written by and published by World Bank Publications. This book was released on with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: International migration, the movement of people across international boundaries to improve economic opportunity, has enormous implications for growth and welfare in both origin and destination countries. An important benefit to developing countries is the receipt of remittances or transfers from income earned by overseas emigrants. Official data show that development countries' remittance receipts totaled 160 billion in 2004, more than twice the size of official aid. This year's edition of Global Economic Prospects focuses on remittances and migration. The bulk of the book covers remittances.
Book Synopsis Impact of Remittances on Poverty and Financial Development in Sub-Saharan Africa by : Sanjeev Gupta
Download or read book Impact of Remittances on Poverty and Financial Development in Sub-Saharan Africa written by Sanjeev Gupta and published by International Monetary Fund. This book was released on 2007-02 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the impact of the steadily growing remittance flows to sub-Saharan Africa (SSA). Though the region receives only a small portion of the total recorded remittances to developing countries, and the volume of aid flows to SSA swamps remittances, this paper finds that remittances, which are a stable, private transfer, have a direct poverty mitigating effect, and promote financial development. These findings hold even after factoring in the reverse causality between remittances, poverty and financial development. The paper posits that formalizing such flows can serve as an effective access point for "unbanked" individuals and households, and that the effective use of such flows can mitigate the costs of skilled out-migration in SSA.
Book Synopsis Migration, Remittances, and Sustainable Development in Africa by : Maty Konte
Download or read book Migration, Remittances, and Sustainable Development in Africa written by Maty Konte and published by Routledge. This book was released on 2020-11-26 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a strong multidisciplinary examination of the links between migration, remittances and sustainable development in Africa. It makes evidence-based policy recommendations on migration to help achieve the Sustainable Development Goals. The key themes examined are migration and remittances, and their relations with the following issues: economic transformation, education and knowledge, corruption and conflict. Cross-cutting issues such as gender equality and youth are weaved throughout the chapters, and a rich range of country contexts are presented. The volume also discusses challenges in managing migration flows. It will be of interest to advanced students, academics and policy makers in development economics and sustainable development.
Book Synopsis Road Network Upgrading and Overland Trade Expansion in Sub-Saharan Africa by : Piet Buys
Download or read book Road Network Upgrading and Overland Trade Expansion in Sub-Saharan Africa written by Piet Buys and published by World Bank Publications. This book was released on 2006 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent research suggests that isolation from regional and international markets has contributed significantly to poverty in many Sub-Saharan African countries. Numerous empirical studies identify poor transport infrastructure and border restrictions as significant deterrents to trade expansion. In response, the African Development Bank has proposed an integrated network of functional roads for the subcontinent. Drawing on new econometric results, the authors quantify the trade-expansion potential and costs of such a network. They use spatial network analysis techniques to identify a network of primary roads connecting all Sub-Saharan capitals and other cities with populations over 500,000. The authors estimate current overland trade flows in the network using econometrically-estimated gravity model parameters, road transport quality indicators, actual road distances, and estimates of economic scale for cities in the network. Then they simulate the effect of feasible continental upgrading by setting network transport quality at a level that is functional, but less highly developed than existing roads in countries like South Africa and Botswana. The authors assess the costs of upgrading with econometric evidence from a large World Bank database of road project costs in Africa. Using a standard approach to forecast error estimation, they derive a range of potential benefits and costs. Their baseline results indicate that continental network upgrading would expand overland trade by about $250 billion over 15 years, with major direct and indirect benefits for the rural poor. Financing the program would require about $20 billion for initial upgrading and $1 billion annually for maintenance. The authors conclude with a discussion of supporting institutional arrangements and the potential cost of implementing them.
Book Synopsis Remittance Markets in Africa by : Sanket Mohapatra
Download or read book Remittance Markets in Africa written by Sanket Mohapatra and published by World Bank Publications. This book was released on 2011-01-01 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances sent by African migrants have become an important source of external finance for countries in the Sub-Saharan African region. In many African countries, these flows are larger than foreign direct investment and portfolio debt and equity flows. In some cases, they are similar in size to official aid from multilateral and bilateral donors. Remittance markets in Africa, however, remain less developed than other regions. The share of informal or unrecorded remittances is among the highest for Sub-Saharan African countries. Remittance costs tend to be significantly higher in Africa both for sending remittances from outside the region and for within-Africa (South-South) remittance corridors. At the same time, the remittance landscape in Africa is rapidly changing with the introduction of new remittance technologies, in particular mobile money transfers and branchless banking. This book presents findings of surveys of remittance service providers conducted in eight Sub-Saharan African countries and in three key destination countries. It looks at issues relating to costs, competition, innovation and regulation, and discusses policy options for leveraging remittances for development in Africa.
Book Synopsis Global Economic Crisis by : Alexis Arieff
Download or read book Global Economic Crisis written by Alexis Arieff and published by DIANE Publishing. This book was released on 2010-08 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan Africa has been strongly affected by the global recession, despite initial optimism that the global financial system would have few spillover effects on the continent. Contents of this report: (1) Recent Develop.; (2) Congressional Interest; (3) African Economies; Trends Prior to the Crisis; Develop. Challenges; (4) How the Crisis is Affecting Africa: Internat. Trade: Trade with the U.S., and with China; Capital Flows: Migrant Remittances; Foreign Aid; (5) Implications of the Crisis in Africa; Sub-Regional Variations; Fiscal and Trade Balances; Poverty Reduction; Food Security; Political Stability; (6) Internat. Efforts to Address the Impact of the Crisis on Africa; Developed Countries; Internat. Financial Inst.; World Bank; ADB; IMF; African Gov¿ts.
Book Synopsis Remittances by : Samuel Munzele Maimbo
Download or read book Remittances written by Samuel Munzele Maimbo and published by World Bank Publications. This book was released on 2005 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Migrants have long faced unwarranted constraints to sending money to family members and relatives in their home countries, among them costly fees and commissions, inconvenient formal banking hours, and inefficient domestic banking services that delay final payment to the beneficiaries. Yet such remittances are perhaps the largest source of external finance in developing countries. Officially recorded remittance flows to developing countries exceeded US$125 billion in 2004, making them the second largest source of development finance after foreign direct investment. This book demonstrates that governments in developing countries increasingly recognize the importance of remittance flows and are quickly addressing these constraints.
Book Synopsis The Development Dimension Migration, Remittances and Development by : OECD
Download or read book The Development Dimension Migration, Remittances and Development written by OECD and published by OECD Publishing. This book was released on 2005-11-15 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication presents the current situation with regard to the magnitude and economic impact of migrants’ remittances to their countries of origin.
Book Synopsis Migration and Remittances by : John Connell
Download or read book Migration and Remittances written by John Connell and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this title, the editors draw together key articles by leading scholars which investigate the significance and role of remittances in economic and social development. They examine topics including reflections on methodology, the motives and determinants of remittances, their socio-economic impacts (especially at the household level), the role of community organisations and social remittances, and the broad social and cultural impacts of remittances. Special attention is given to small island and Central Asian states, where remittances are of particular significance. The collection traces the recent historical evolution of remittances and concludes with an examination of policy implications in both sending and receiving countries.
Book Synopsis Growth in Sub-Saharan Africa by : Mr.Dhaneshwar Ghura
Download or read book Growth in Sub-Saharan Africa written by Mr.Dhaneshwar Ghura and published by International Monetary Fund. This book was released on 1995-12-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.
Book Synopsis FinTech in Sub-Saharan African Countries by : Mr.Amadou N Sy
Download or read book FinTech in Sub-Saharan African Countries written by Mr.Amadou N Sy and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Book Synopsis International Migration, Remittances and Brain Drain by : Serge Feld
Download or read book International Migration, Remittances and Brain Drain written by Serge Feld and published by Springer Nature. This book was released on 2021-08-24 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an analysis of theoretical and empirical researches on the effects of remittances and brain drain on the development of less developed countries (LDCs). It analyzes the most recent global, regional and national data as well as the arguments for and against the emigration of highly skilled personnel and remittances, thereby highlighting policies aimed at optimizing the link between migration and development. The book examines in depth the arguments against "brain drain", namely the loss of skilled labor, wasted public investment in higher education, and reduced tax revenues. It also presents the arguments in favor, emphasizing on the transfer of scientific knowledge, the incentive effect of increased education spending, and participation in international networks. It addresses the central issue of emigration of medical personnel from developing countries and its consequences on the population.The book focuses on the effects of remittances on poverty and inequalities. They improve health conditions, raise education levels and empower women. Positive effects include the stabilizing function of remittances and the improvement of external accounts. Other effects are subject to conflicting assessments such as the reduction of labor supply and the "Dutch disease". The focus is on institutions who integrate economic, social and political incentives in order to establish remittances at the heart of development policies.The book provides a reference for students and research centers devoted to development economics, centers for international migration studies, and research units focusing on population, migration, and development.
