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                                                                                                                                                                                                                                             DEVELOPMENT STUDIES

                                                                            Copyright © 2009 International Development Options

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Volume Five                                                                   Winter 2008-Spring 2009                                                              Numbers 3-4.

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     THEME: GLOBAL LABOR MIGRATION AND EMERGING TRENDS IN DEVELOPMENT FINANCING:

     AN ASSESSMENT OF THE SOCIAL AND ECONOMIC IMPCT OF MIGRANT (WORKER) REMITTANCES

     IN SUB-SAHARAN AFRICA

 

 

       INTERNATIONAL REMITTANCES AND ECONOMIC GROWTH IN AFRICA

     

       John C. Anyanwu**                                                          Andrew E.O. Erhijakpor

      Chief Research Economist                                              Lecturer

      Development Research Department                             Department of Accounting,

      African Development Bank                                             Banking and Finance

      Temporary Relocation Agency                                       Delta State University

      BP 323, 1002 Tunis, Tunisia                                            Asaba Campus, Asaba, Nigeria

      E-Mail: J.ANYANWU@AFDB.ORG                                   E-Mail: erhijakpor@yahoo.com

 

      Published Online: March 15, 2017

 

 

      ABSTRACT

 

Recently, there has been a considerable debate regarding the relative contribution of international migrants’ remittances to sustainable economic development. While the rates and levels of officially recorded remittances to developing countries have increased enormously over the last decade, academic and policy-oriented research has not come to a consensus over whether remittances contribute to economic growth. This article investigates the impact of migrant remittances on economic growth in African countries, using panel data over the period 1990-2005. After reviewing the relevant literature on remittances, it analyzes the size and significance of remittance flows to African countries. It highlights the limitations in data and then outlines the research design for the empirical analysis of the impact of remittances on economic growth. The results suggest that remittances have a positive impact on economic growth in African countries. The article then suggests some policy options to enhance these flows and maximize the benefits to these countries.

* The views expressed in this article are those of the authors and in no way represent those of their respective employers.

** Corresponding author.

 

 

 

IDO        ISSN: 1093-8281                 Copyright © 2017 International Development Options

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