Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa

Raju Singh, Kyung-woo Lee and Markus Haacker

No 2009/216, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; remittance; GDP; remittance flow; do remittance (search for similar items in EconPapers)
Pages: 26
Date: 2009-10-01
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Citations: View citations in EconPapers (57)

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Related works:
Journal Article: Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa (2011)
Working Paper: Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2009/216

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