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Workers’ Remittances, Governance Institution and Private Investment in Nigeria

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  • Ebenezer A Olubiyi
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    Abstract

    Workers' remittances have been identified as an important investment driver, by easing credit availability and lowering cost of investment. However, the literature suggests that governance institutions play a crucial role in how this inflow affects investment. Nigeria has been experiencing continuous increase in workers' remittances over time while the level of investment is still low. This work sought to investigate the role of governance in the remittance-investment nexus in Nigeria . A GMM estimation technique was adopted to estimate a simplified institutional framework. The result shows that remittances performed better in influencing investment when governance institution improves. Hence, government is encouraged to improve the state of governance in Nigeria .

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    Bibliographic Info

    Article provided by Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante in its journal The Review of Finance and Banking.

    Volume (Year): 05 (2013)
    Issue (Month): 1 (June)
    Pages: 063-081

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    Handle: RePEc:rfb:journl:v:05:y:2013:i:1:p:063-081

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    1. Ahmet Faruk Aysan & M. K. Nabli & M-A Veganzones-Varoudakis, 2006. "Governance Institutions and Private Investment: An Application to the Middle East and North Africa," Working Papers 2006/08, Bogazici University, Department of Economics.
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    12. Catrinescu, Natalia & Leon-Ledesma, Miguel & Piracha, Matloob & Quillin, Bryce, 2009. "Remittances, Institutions, and Economic Growth," World Development, Elsevier, vol. 37(1), pages 81-92, January.
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