Impact of Remittances on Development in Nigeria: Challenges and Prospects

Oluwafemi, Adeagbo; Ayandibu, Ayansola Olatunji

doi:10.1080/09766634.2014.11885635

Cited by 14 publications

(9 citation statements)

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“…From this perspective, migrants' remittances are deemed important since they bring about change in households incomes, promote investments and innovations and thereby aiding the larger economy of the migrants' country of origin in its economic take off (Kindleberger, 1965;Beijer, 1970 andDe Haas, 2007). The pessimistic view emerged in the 1970s Table 1 Percentage growth of Remittances and other monetary flows in Sub-Sahara African countries Flows 2000 to 2003 2004 to 2006 2007 2008 2009 2010 2011 2012 2013 2014 and 1980s and argued that migration and remittances create underdevelopment in migrants' countries of origin (Olufemi and Ayandibu, 2014). Remittances make receiving countries dependent on the sending countries as well as making receivers of remittances dependent on the sender (Binford, 2003).…”

Section: Literature Reviewmentioning

confidence: 99%

Remittances, financial development and economic growth in sub-Saharan African countries: evidence from a PMG-ARDL approach

2019

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The study investigated the relationship among remittances, financial development and economic growth in a panel of 20 sub-Saharan African countries over the period of 2000 and 2015. The study used both Pooled Mean Group and Mean Group/ARDL estimations with panel unit root and cointegration tests. After establishing cointegration, remittances and financial development were found to have positive effects on economic growth both in the short and the long run. The interactive term showed that financial development acted as a substitute in the remittances-growth relationship. Finally, unidirectional causal relationships were found to exist from GDP to remittances and from financial development to GDP. However, no causality existed between remittances and financial development in the SSA countries.

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Section: Literature Reviewmentioning

confidence: 99%

Remittances, financial development and economic growth in sub-Saharan African countries: evidence from a PMG-ARDL approach

2019

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“…Source: Source: Data used from CBN Statistical Bulletin (2017) and WDI (2017) Though, the literature on remittances and economic growth in Nigeria is not new (e.g., Adarkwa, 2015;Akinpelu et al, 2013;Audu, 2012;Danmola and Wakili, 2013;Oluwafemi and Ayandibu, 2014;Oshota and Badejo, 2015); however, extant literature on the role of financial sector development in remittances-growth nexus is sparse. It is believed that the outcome of this study will unravel the intricate relationship between remittances, financial sector development, and economic growth thus; chatting the way forward for policymakers in Nigeria and other parts of the World.…”

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confidence: 99%

Remittance and Economic Growth Nexus in Nigeria: Does Financial Sector Development Play a Critical Role?

Anetor¹

2019

International Journal of Management, Economics and Social Sciences

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The purpose of the study was to examine the relationship between remittances, financial sector development, and economic growth in Nigeria over the period 1981 to 2017. The study used the autoregressive distributed lag (ARDL) model to analyze the longrun and short-run relationships between the variables. The outcome of the study revealed that the variables are bound together in the long-run. The results also showed that remittances have a negative and significant effect on economic growth both in the long-run and short-run. The study also established that financial sector development has a negative and significant impact on economic growth both in the long-run and short-run. Further, the study confirmed the existence of complementarity between remittances and financial sector development in influencing economic growth. In addition, study revealed that inflation has a negative and significant effect on economic growth both in the long-run and short-run. The findings of the study showed that trade openness, government expenditure, and population growth have no significant impact on economic growth both in the long-run and short-run.

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“…Empirical evidence supports the existence of a significant positive relationship between migrant workers' remittances and the economic growth of their country of origin, as demonstrated in studies conducted in Bangladesh, India, Pakistan, and Sri Lanka (Azam, 2015); Korea (Tehseen Jawaid & Raza, 2012); Romania (NIȚ A, 2018); Nigeria (Oluwafemi & Ayandibu, 2014); Ghana (Adams & Cuecuecha, 2013);and Indonesia (Mas'udah, 2020). Remittances have grown in importance as a source of external financing for developing countries (Martinez et al, 2015;United Nations, 2011).…”

Section: Introductionmentioning

confidence: 73%

Negotiating Religiosity in a Secular Society: A Study of Indonesian Muslim Female Migrant Workers in Hong Kong

Subchi

Jahar

Rahiem

et al. 2021

JPSS

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This study examined how Indonesian Muslim female migrant workers in Hong Kong, the majority of whom work in the domestic sector, negotiate their religiosity in a secular society. As a method of investigation, qualitative exploratory research was used. Observation and in-depth semi-structured interviews were used to collect data with eight Indonesian Muslim female workers in Hong Kong. The findings show that: 1) despite workplace restrictions, these workers adhered to their religious rites; 2) they utilized the most viable solutions to enable them to conduct their job obligations that were incompatible with their religion; 3) they established halaqas [religious study groups] in several mosques throughout Hong Kong and met regularly; and 4) the migrant workers gained strength from their faith, while the religious study groups greatly assisted them in overcoming and resolving life’s challenges. The researchers concluded that while it is critical for many workers to live according to their religion, many employers are unaware of their employees’ religion and religious values. There should be better dialogue and agreement on how workers and employers can negotiate their rights and obligations. In response to the study’s findings, several recommendations are made.

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Impact of Remittances on Development in Nigeria: Challenges and Prospects

Cited by 14 publications

References 1 publication

Remittances, financial development and economic growth in sub-Saharan African countries: evidence from a PMG-ARDL approach

Remittances, financial development and economic growth in sub-Saharan African countries: evidence from a PMG-ARDL approach

Remittance and Economic Growth Nexus in Nigeria: Does Financial Sector Development Play a Critical Role?

Negotiating Religiosity in a Secular Society: A Study of Indonesian Muslim Female Migrant Workers in Hong Kong

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