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Remittances, Foreign Aid and Private Consumption in Sub-Saharan Africa (SSA): A System GMM Estimation

Author

Listed:
  • Adelowokan, Oluwaseyi
  • Adesoye, Adesola
  • Akpa, Emeka
  • Maku, Olukayode

Abstract

The question of whether remittances and foreign aid at the macro level impact private consumption in SSA has been explored in this study. Twenty-nine (29) SSA countries were sampled for the study from 2002 to 2017. The System Generalized Method of Moment (SGMM) estimator was applied in the study to account for the dynamics in the model. Empirical evidence showed that foreign aid and remittances exerted positive but insignificant impact on private consumption.

Suggested Citation

  • Adelowokan, Oluwaseyi & Adesoye, Adesola & Akpa, Emeka & Maku, Olukayode, 2020. "Remittances, Foreign Aid and Private Consumption in Sub-Saharan Africa (SSA): A System GMM Estimation," MPRA Paper 98362, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:98362
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    File URL: https://mpra.ub.uni-muenchen.de/98362/1/MPRA_paper_98362.pdf
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    More about this item

    Keywords

    Remittances; Foreign Aid; Private Consumption; System GMM;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • F35 - International Economics - - International Finance - - - Foreign Aid

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