Remittances, financial development and economic growth in Africa

Esman Morekwa Nyamongo, Roseline N. Misati, Leonard Kipyegon and Lydia Ndirangu

Journal of Economics and Business, 2012, vol. 64, issue 3, 240-260

Abstract: This study investigates the role of remittances and financial development on economic growth in a panel of 36 countries in Africa over the period 1980–2009. It uses a panel econometrics framework and the main findings of the study are as follows: (1) Remittances appear to be an important source of growth for these countries in Africa during the period under study. (2) Volatility of remittances appears to have a negative effect on the growth of countries in Africa. (3) Remittances appear to be working as a complement to financial development. (4) However, importance of financial development in boosting economic growth appears weak, at least among the countries under study.

Keywords: Remittances; Financial development; Economic growth; Africa (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (84)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jebusi:v:64:y:2012:i:3:p:240-260

DOI: 10.1016/j.jeconbus.2012.01.001

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