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Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa

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Author Info

  • Raju Jan Singh
  • Kyung-woo Lee
  • Markus Haacker

Abstract

The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/216.

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Length: 26
Date of creation: 01 Oct 2009
Date of revision:
Handle: RePEc:imf:imfwpa:09/216

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Related research

Keywords: Economic growth; Developing countries; Economic models; Workers remittances;

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Cited by:
  1. Yasser Abdih & Ralph Chami & Christian Ebeke & Adolfo Barajas, 2012. "Remittances Channel and Fiscal Impact in the Middle East, North Africa, and Central Asia," IMF Working Papers 12/104, International Monetary Fund.
  2. Sanket Mohapatra & Dilip Ratha, 2010. "Forecasting migrant remittances during the global financial crisis," Migration Letters, Transnational Press London, UK, vol. 7(2), pages 203-213, October.
  3. Ibrahim Sirkeci & Jeffrey H. Cohen & Dilip Ratha, 2012. "Migration and Remittances during the Global Financial Crisis and Beyond," World Bank Publications, The World Bank, number 13092, March.
  4. Naudé, Wim & Bezuidenhout, Henri, 2012. "Remittances provide resilience against disasters in Africa," MERIT Working Papers 026, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  5. Anke Weber & Chunfang Yang, 2011. "Armenia: An Assessment of the Real Exchange Rate and Competitiveness," IMF Working Papers 11/20, International Monetary Fund.
  6. Ayadi, Rym & Arbak, Emrah & Ben-Naceur, Sami & De Groen, Willem Pieter, 2013. "Benchmarking the Financial Sector in the Southern and Eastern Mediterranean Countries and Projecting 2030 Financial Sector Scenarios," CEPS Papers 7868, Centre for European Policy Studies.
  7. Francis M. Kemegue & Emmanuel Owusu-Sekyere & Reneé van Eyden, 2011. "What drives remittance inflows to Sub-Saharan Africa: A Dynamic Panel Approach," Working Papers 262, Economic Research Southern Africa.
  8. Kangni KPODAR & Maëlan LE GOFF, 2012. "Do Remittances Reduce Aid Dependency?," Working Papers P34, FERDI.
  9. Joannes Mongardini & Brett Rayner, 2009. "Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries," IMF Working Papers 09/75, International Monetary Fund.
  10. Naudé, Wim & Bezuidenhout, Henri, 2012. "Remittances provide resilience against disasters in Africa," UNU-MERIT Working Paper Series 026, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  11. Christian EBEKE, 2010. "Transferts des migrants, ouverture sur l'extérieur et dépenses publiques dans les pays en développement," Working Papers 201011, CERDI.
  12. Ratha, Dilip & Mohapatra, Sanket & Scheja, Elina, 2011. "Impact of migration on economic and social development : a review of evidence and emerging issues," Policy Research Working Paper Series 5558, The World Bank.
  13. Giscard Assoumou Ella, 2013. "The viability of an economic and monetary union in Africa with a unified currency: evidence from the African economies' reactions to the international income, price and monetary shocks," Working Papers hal-00851594, HAL.
  14. Giulia Bettin & Andrea Filippo Presbitero & Nikola Spatafora, 2014. "Remittances and vulnerability in developing countries," Mo.Fi.R. Working Papers 93, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
  15. Renee van Eyden & Emmanuel Owusu-Sekyere & Francis Kemegue, 2011. "Remittance Inflows to Sub-Saharan Africa: The Case of SADC," Working Papers 201127, University of Pretoria, Department of Economics.

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