Remittances provide resilience against disasters in Africa
AbstractHow responsive are remittances to various disasters, both natural and human-made? And would remittances be affected by systemic financial crises (such as the 2008/09 financial crisis)? Using panel data on 23 Sub-Saharan African (SSA) countries over the period 1980 to 2007, we find that remittances are slow to respond to natural disasters, unresponsive to outbreaks of conflict, and will decline, albeit slowly, after a global financial crisis only to the extent that the crisis affects incomes, migration stocks, exchange rates, and the banking system. The relative persistence of remittances suggests that it is a good bulwark against natural disasters and global financial crises in SSA.
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Bibliographic InfoPaper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 026.
Date of creation: 2012
Date of revision:
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Web page: http://www.merit.unu.edu
remittances; migration; disasters; global financial crisis; Africa;
Find related papers by JEL classification:
- F24 - International Economics - - International Factor Movements and International Business - - - Remittances
- F22 - International Economics - - International Factor Movements and International Business - - - International Migration
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
This paper has been announced in the following NEP Reports:
- NEP-AFR-2012-04-23 (Africa)
- NEP-ALL-2012-04-23 (All new papers)
- NEP-DEV-2012-04-23 (Development)
- NEP-MIG-2012-04-23 (Economics of Human Migration)
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