International remittances, poverty and growth into WAEMU countries: evidence from panel cointegration approach

Joseph Siani ()
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Joseph Siani: IESEG School of Management

Economics Bulletin, 2020, vol. 40, issue 2, 1446-1456

Abstract: This paper applies the panel unit root, panel cointegration and panel vector error-correction Granger causality tests in a panel of the eight West African Economic and Monetary Union (WAEMU) countries and shows that in the short-run, there is evidence of (i) a bidirectional causal relationship between economic growth and poverty; (ii) a unidirectional causal relationship from remittances to poverty; and (iii) a unidirectional causal relationship from economic growth to remittances. Our results further suggest that in the long-run, both economic growth and remittances jointly Granger-cause poverty and that it takes more than fifteen years for poverty to converge to its long-run equilibrium in response to changes in economic growth and remittances.

Keywords: Remittances; Economic growth; Poverty; Cointegration analysis; Vector error-correction model; Short-run causality; Long-run causality; WAEMU countries (search for similar items in EconPapers)
JEL-codes: C5 I3 (search for similar items in EconPapers)
Date: 2020-06-02
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Citations: View citations in EconPapers (1)

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