The Global Financial Crisis (GFC) and Remittances Received in Africa: Any Lessons for Covid-19?

Emeka Akpa, Segun Subair Awode, Andy Okwu and Isiaq Oseni
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Segun Subair Awode: Nigerian Institute of Social and Economic Research (NISER), Nigeria

South-Eastern Europe Journal of Economics, 2020, vol. 18, issue 2, 217-239

Abstract: We estimated the effect of the GFC on remittances into 8 SSA countries from 1999 to 2019 using the Fixed Effects (FE) model. Results showed that the GFC had a positive and significant effect on remittances. Per capita income of migrant home country exerted a negative but insignificant effect on remittances, while per capita income in remittance source country had a positive and significant effect; the effects of exchange rate and inflation on remittances were positive and negative, respectively, but insignificant. Findings showed the effect of the GFC on remittances is robust to remittance measures and large country sample size.

Keywords: Global Financial Crisis; Remittances; COVID-19; Fixed Effects; Panel Data (search for similar items in EconPapers)
JEL-codes: F24 G01 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:seb:journl:v:18:y:2020:i:2:p:217-239

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