alexa Remittances, financial development and economic growth in Africa
Business & Management

Business & Management

Journal of Global Economics

Author(s): Esman Morekwa Nyamongo, Roseline N Misati, Leonard Kipyegon, Lydia Ndirangu

Abstract Share this page

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.

This article was published in Journal of Economics and Business and referenced in Journal of Global Economics

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