Remittances, financial development and economic growth in sub-Saharan African countries: evidence from a PMG-ARDL approach
David Olayungbo and
Ahmod Quadri ()
Additional contact information
Ahmod Quadri: Obafemi Awolowo University
Financial Innovation, 2019, vol. 5, issue 1, 1-25
Abstract The study investigated the relationship among remittances, financial development and economic growth in a panel of 20 sub-Saharan African countries over the period of 2000 and 2015. The study used both Pooled Mean Group and Mean Group/ARDL estimations with panel unit root and cointegration tests. After establishing cointegration, remittances and financial development were found to have positive effects on economic growth both in the short and the long run. The interactive term showed that financial development acted as a substitute in the remittances-growth relationship. Finally, unidirectional causal relationships were found to exist from GDP to remittances and from financial development to GDP. However, no causality existed between remittances and financial development in the SSA countries.
Keywords: Remittances; Financial development; Growth; PMG/MG-ARDL; Granger causality test; African countries; F22; F24; J61 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1186/s40854-019-0122-8 Abstract (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:fininn:v:5:y:2019:i:1:d:10.1186_s40854-019-0122-8
Ordering information: This journal article can be ordered from
http://www.springer. ... nomics/journal/40589
Access Statistics for this article
Financial Innovation is currently edited by J. Leon Zhao and Zongyi
More articles in Financial Innovation from Springer, Southwestern University of Finance and Economics
Bibliographic data for series maintained by Sonal Shukla ().