Migration, Remittances, Trade Openness and Economic Growth in Africa: GMM Technique

Abstract

This study investigates the impact of outgoing migration, remittances, and trade on economic growth in Africa during the period from 1976 to 2015. The study utilizes annual data obtained from the World Bank and uses GMM econometrics technique. The empirical results reveal that outgoing migration has negative significant impact on economic growth of the region; migrants' remittances to Africa have positive significant impact on economic growth during period of interest. Also, the results suggest that trade contributes positively and significantly to economic growth in the continent.