Advanced Search
MyIDEAS: Login to save this article or follow this journal

The Changing Impact Of Macroeconomic Environment On Remittance Inflows In Sub-Saharan Africa

Contents:

Author Info

  • DEODAT E. ADENUTSI
  • MESHACH J. AZIAKPONO
  • MATTHEW K. OCRAN

Abstract

This paper identifies the core macroeconomic factors responsible for explaining the changing levels in international remittances received by SSA countries. A set of annual panel data on 36 SSA countries, covering 1980-2009, was used in a ‘system’ Generalised Method of Moments following Blundell and Bond (1998) dynamic panel-data estimation technique. In order to provide a more detailed insight into the possible dynamics of varying impact of macroeconomic variables that explain remittances received in SSA, decade-based (1980-89, 1990-99, and 2000-09), as well as an overall study period, 1980-2009, estimations were carried out. It was found that both migrant home-country and host-country macroeconomic environment impact on remittance inflows in SSA with a varying impact overtime. In absolute terms, generally, whilst the impact of real exchange rate, migrant income, and institutional quality has been increasing on remittances overtime, the effects of family income and the rate of inflation has be decreasing overtime.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.jare-sh.com/downloads/abstract_jul_2011/chuku.pdf
Download Restriction: no

Bibliographic Info

Article provided by Spiru Haret University, Faculty of Accounting and Financial Management Constanta in its journal Journal of Academic Research in Economics.

Volume (Year): 3 (2011)
Issue (Month): 2 (July) ()
Pages: 136-167

as in new window
Handle: RePEc:shc:jaresh:v:3:y:2011:i:2:p:136-167

Contact details of provider:
Web page: http://www2.spiruharet.ro/facultati/facultate.php?id=9
More information through EDIRC

Related research

Keywords: Migrant; Remittances; Macroeconomic Policy; system Dynamic GMM Panel Estimation.;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Zsolt Becsi & Ping Wang, 1997. "Financial development and growth," Economic Review, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta, issue Q 4, pages 46-62.
  2. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, Econometric Society, vol. 50(4), pages 1029-54, July.
  3. Schiopu, Ioana & Siegfried, Nikolaus, 2006. "Determinants of workers’ remittances: evidence from the European Neighbouring Region," Working Paper Series, European Central Bank 0688, European Central Bank.
  4. Rapoport, Hillel & Docquier, Frederic, 2006. "The Economics of Migrants' Remittances," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier, Elsevier.
  5. Carlos Vargas-Silva & Peng Huang, 2005. "Macroeconomic Determinants of Workers’ Remittances: Host vs. Home Country’s Economic Conditions," International Finance, EconWPA 0507007, EconWPA, revised 29 Jul 2005.
  6. Ralph Chami & Adolfo Barajas & Anjali Garg & Connel Fullenkamp, 2010. "The Global Financial Crisis and Workers' Remittances to Africa," IMF Working Papers, International Monetary Fund 10/24, International Monetary Fund.
  7. Bilin Neyapti & Kivilcim Metin-Ozcan & Osman Tuncay Aydas, 2004. "Determinants of Workers Remittances : The Case of Turkey," Departmental Working Papers, Bilkent University, Department of Economics 0405, Bilkent University, Department of Economics.
  8. Dean Yang & HwaJung Choi, 2005. "Are Remittances Insurance? Evidence from Rainfall Shocks in the Philippines," Working Papers, Research Seminar in International Economics, University of Michigan 535, Research Seminar in International Economics, University of Michigan.
  9. Catalina Amuedo-Dorantes & Susan Pozo, 2007. "Remittances and the Macroeconomy: The Case of Small Island Developing States," Working Papers, San Diego State University, Department of Economics 0018, San Diego State University, Department of Economics.
  10. M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers, Centre for Economic Performance, LSE dp0007, Centre for Economic Performance, LSE.
  11. Poirine, Bernard, 1997. "A theory of remittances as an implicit family loan arrangement," World Development, Elsevier, Elsevier, vol. 25(4), pages 589-611, January.
  12. Claudia M. Buch & Anja Kuckulenz & Marie-Helene Le Manchec, 2002. "Worker Remittances and Capital Flows," Kiel Working Papers, Kiel Institute for the World Economy 1130, Kiel Institute for the World Economy.
  13. R Blundell & Steven Bond, . "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers, Economics Group, Nuffield College, University of Oxford W14&104., Economics Group, Nuffield College, University of Oxford.
  14. Brown, Richard P. C., 1997. "Estimating remittance functions for Pacific Island Migrants," World Development, Elsevier, Elsevier, vol. 25(4), pages 613-626, January.
  15. Parsons, Christopher R. & Skeldon, Ronald & Walmsley, Terrie L. & Winters, L. Alan, 2007. "Quantifying international migration : a database of bilateral migrant stocks," Policy Research Working Paper Series, The World Bank 4165, The World Bank.
  16. Lucas, Robert E B & Stark, Oded, 1985. "Motivations to Remit: Evidence from Botswana," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 93(5), pages 901-18, October.
  17. Samuel Munzele Maimbo & Dilip Ratha, 2005. "Remittances: Development Impact and Future Prospects," World Bank Publications, The World Bank, number 7339, August.
  18. Funkhouser, Edward, 1995. "Remittances from International Migration: A Comparison of El Salvador and Nicaragua," The Review of Economics and Statistics, MIT Press, MIT Press, vol. 77(1), pages 137-46, February.
  19. Matthew Higgins & Alketa Hysenbegasi & Susan Pozo, 2004. "Exchange-rate uncertainty and workers' remittances," Applied Financial Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 14(6), pages 403-411.
  20. Serdar Sayan, 2006. "Business Cycles and Workers' Remittances," IMF Working Papers, International Monetary Fund 06/52, International Monetary Fund.
  21. Adams, Richard Jr. & Page, John, 2005. "Do international migration and remittances reduce poverty in developing countries?," World Development, Elsevier, Elsevier, vol. 33(10), pages 1645-1669, October.
  22. Freund, Caroline & Spatafora, Nikola, 2005. "Remittances : transaction costs, determinants, and informal flows," Policy Research Working Paper Series, The World Bank 3704, The World Bank.
  23. Sule Akkoyunlu & Konstantin A. Kholodilin, 2006. "What Affects the Remittances of Turkish Workers: Turkish or German Output?," Discussion Papers of DIW Berlin, DIW Berlin, German Institute for Economic Research 622, DIW Berlin, German Institute for Economic Research.
  24. Schrooten, Mechthild, 2005. "Bringing home the money: what determines worker's remittances to transition countries?," Discussion Paper Series, Institute of Economic Research, Hitotsubashi University a466, Institute of Economic Research, Hitotsubashi University.
  25. Poonam Gupta, 2005. "Macroeconomic Determinants of Remittances," IMF Working Papers, International Monetary Fund 05/224, International Monetary Fund.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Adenutsi, Deodat & Aziakpono, Meshach & Ocran, Matthew, 2011. "Macroeconomic environment and remittances in post-independent Sub-Saharan Africa: Magnitudes, trends and stylised facts," MPRA Paper 42426, University Library of Munich, Germany.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:shc:jaresh:v:3:y:2011:i:2:p:136-167. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Claudiu Chiru).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.