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Correlates of poverty in Africa

Author

Listed:
  • Richard Adjei Dwumfour
  • Elikplimi Komla Agbloyor
  • Joshua Yindenaba Abor

Abstract

Purpose - The purpose of this paper is to examine how remittances, financial development (FD), and natural resources and their different transmission channels can be used to reduce poverty in Africa. Design/methodology/approach - Using the Human Development Index (HDI) as the measure of welfare, the authors specify these relationships using the System GMM estimator approach. Findings - The authors hypothesise that for remittance to effectively improve welfare, the recipient of remittances must have access to credit to profitably utilise the monies. Again, the authors assert that FD can be effective in improving welfare when development of the sector actually benefits the poor. The authors provide empirical support for these hypotheses using 54 African countries covering the period 1990-2012. The findings also show that the North African region has been able to utilise its oil rents in particular to improve welfare unlike the Sub-Saharan counterpart. Originality/value - This paper is the first to jointly estimate the impact of remittances, FD, and natural resources on welfare using a comprehensive measure of poverty – HDI.

Suggested Citation

  • Richard Adjei Dwumfour & Elikplimi Komla Agbloyor & Joshua Yindenaba Abor, 2017. "Correlates of poverty in Africa," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 44(12), pages 2033-2051, December.
    • Handle: RePEc:eme:ijsepp:ijse-12-2015-0319
    DOI: 10.1108/IJSE-12-2015-0319
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    Citations

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    Cited by:

    1. Ali, Adnan & Ramakrishnan, Suresh & Faisal, Faisal & Ghazi H Sulimany, Hamid & Bazhair, Ayman Hassan, 2022. "Stock market resource curse: The moderating role of institutional quality," Resources Policy, Elsevier, vol. 78(C).
    2. Dwumfour, Richard Adjei & Pan, Lei & Harris, Mark N., 2023. "FDI and development redux: Is R&D a substitute for FDIs?," MPRA Paper 116117, University Library of Munich, Germany.
    3. Richard Adjei Dwumfour, 2020. "Poverty in Sub-Saharan Africa: The Role of Business Regulations, Policies and Institutions," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(3), pages 861-890, June.
    4. Dwumfour, Richard Adjei & Ntow-Gyamfi, Matthew, 2018. "Natural resources, financial development and institutional quality in Africa: Is there a resource curse?," Resources Policy, Elsevier, vol. 59(C), pages 411-426.
    5. Khan, Zeeshan & Hussain, Muzzammil & Shahbaz, Muhammad & Yang, Siqun & Jiao, Zhilun, 2020. "Natural resource abundance, technological innovation, and human capital nexus with financial development: A case study of China," Resources Policy, Elsevier, vol. 65(C).
    6. Wang, Ye, 2023. "What drives sustainable development? Evaluating the role of oil and coal resources for selected resource rich economies," Resources Policy, Elsevier, vol. 80(C).

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