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Remittances, consumption and investment in Ghana

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Author Info
Adams, Richard H., Jr.
Cuecuecha, Alfredo
Page, John
Abstract

This paper uses a new, nationally-representative household survey from Ghana to analyze within a rigorous econometric framework how the receipt of internal remittances (from within Ghana) and international remittances (from African or other countries) affects the marginal spending behavior of households on a broad range of consumption and investment goods, including food, education and housing. Contrary to other studies, which find that remittances are spent disproportionately on consumption (food and consumer goods/durables) or investment goods (education and housing), the findings show that households receiving remittances in Ghana do not spend more at the margin on food, education and housing than households with similar income levels and characteristics that do not receive remittances. When the analysis controls for endogeneity and selection bias, the findings show that any differences in the marginal spending behavior between remittance-receiving and non-receiving households are explained completely by the observed and unobserved characteristics of households. Households in Ghana treat remittances just like any other source of income, and there are no changes in marginal spending patterns for households with the receipt of remittance income.

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Publisher Info
Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4515.

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Date of creation: 01 Feb 2008
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Handle: RePEc:wbk:wbrwps:4515

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Related research
Keywords: Population Policies; Access to Finance; Debt Markets; Remittances;

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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.:
  1. Hausman, J. A. & Newey, W. K. & Powell, J. L., 1995. "Nonlinear errors in variables Estimation of some Engel curves," Journal of Econometrics, Elsevier, vol. 65(1), pages 205-233, January. [Downloadable!] (restricted)
  2. Schmertmann, Carl P., 1994. "Selectivity bias correction methods in polychotomous sample selection models," Journal of Econometrics, Elsevier, vol. 60(1-2), pages 101-132. [Downloadable!] (restricted)
  3. Lee, Lung-Fei, 1983. "Generalized Econometric Models with Selectivity," Econometrica, Econometric Society, vol. 51(2), pages 507-12, March. [Downloadable!] (restricted)
  4. Osili, Una Okonkwo, 2004. "Migrants and Housing Investments: Theory and Evidence from Nigeria," Economic Development and Cultural Change, University of Chicago Press, vol. 52(4), pages 821-49, July.
  5. Kaivan Munshi, 2003. "Networks In The Modern Economy: Mexican Migrants In The U.S. Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 549-599, May. [Downloadable!] (restricted)
  6. François Bourguignon & Martin Fournier & Marc Gurgand, 2004. "Selection Bias Corrections Based on the Multinomial Logit Model: Monte-Carlo Comparisons," DELTA Working Papers 2004-20, DELTA (Ecole normale supérieure). [Downloadable!]
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  7. Ralph Chami & Samir Jahjah & Connel Fullenkamp, 2003. "Are Immigrant Remittance Flows a Source of Capital for Development," IMF Working Papers 03/189, International Monetary Fund. [Downloadable!]
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(explanations, 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.)

  1. Eliana V. Jimenez & Richard P.C. Brown, 2008. "Assessing the poverty impacts of remittances with alternative counterfactual income estimates," Discussion Papers Series 375, School of Economics, University of Queensland, Australia. [Downloadable!]
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