Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
958012 | Journal of Economics and Business | 2012 | 21 Pages |
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.
► Remittances appear to be an important source of growth for these countries in Africa during the period under study. ► Volatility of remittances appears to have a negative effect on the growth of countries in Africa. ► Remittances appear to be working as a complement to financial development. ► However, importance of financial development in boosting economic growth appears weak, at least among the countries under study.