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

Anetor, Friday Osemenshan

doi:10.32327/ijmess/8.2.2019.8

Cited by 24 publications

(29 citation statements)

References 31 publications

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“…This negative relationship was also established in the short run. This finding is in line with Anetor (2019), although contrary to findings by Afaha (2013) and Meyer and Shera (2017). The negative relationship between remittances and economic growth simply implies that a large inflow of remittances does not necessarily lead to economic growth.…”

Section: Human Capital Flight and Output Growthsupporting

confidence: 48%

“…Again, Nigeria is one of the many countries experiencing a high rate of human capital flight and understanding the impact of this on output growth, in the long run, is a welcome development. Furthermore, the reviews have shown that many studies carried out in Nigeria either examined the factors that contributed to migration (Ndulu, 2010;Joshua et al, 2014;Egbefo, 2014;Tabassum et al, 2017;Ajide and Alimi, 2018;Popogbe and Adeosun, 2020) or examined the impact of remittances on the Human capital flight and output growth home economies (Anetor, 2019;Mago, 2018;Azizi, 2018). On another hand, while the studies by Henry (2013) and Okonkwo et al (2020) on the impact of capital flight on economic growth in Nigeria have a semblance of our current study; however, it is important to note that human capital flight and capital flight are two distinct concepts.…”

Section: Human Capital Flight and Output Growthmentioning

confidence: 99%

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Human capital flight and output growth nexus: evidence from Nigeria

Adeosun

Popogbe

2021

REPS

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Purpose Human capital flight from developing countries to developed nations has been rising and giving concerns to governments and scholars alike. This paper aims to explore the impact migration from Nigeria has on economic output growth by focusing on the migration rate, remittances, population growth and secondary school enrolment. This has not received adequate attention in the literature, as many papers have primarily focused on the impact of remittances on economic growth. Design/methodology/approach Leveraging on the macro-level approach to migration, remittances and the economy, this research considers the nexus among the human capital flight and output growth variables by using the autoregressive distributed lag (ARDL) method of analysis for time series data between 1986 and 2018. Findings The net migration rate from Nigeria was found from the empirical analysis to be more disadvantageous for the economy, given its negative relationship with economic growth despite the large volume of foreign incomes (remittances). It also shows that secondary school enrolment positively and significantly impacted the Nigerian growth rate in the long run. Originality/value This research has widened the use of variables by combining net migration rate, remittances from abroad, population growth rate and secondary school enrolment to obtain a more robust outcome with implications for research and practice.

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Section: Human Capital Flight and Output Growthsupporting

confidence: 48%

Section: Human Capital Flight and Output Growthmentioning

confidence: 99%

Human capital flight and output growth nexus: evidence from Nigeria

Adeosun

Popogbe

2021

REPS

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“…Remittance's role in the financial system has been extensively investigated through divers measures, such as financial inclusion (Aggarwal et al, 2006 ; Chowdhury, 2011 ; Anetor, 2019 ; Sobiech, 2019 ) and financial innovation. Despite the increasing value of remittances, little research has been done on the relationship between remittances and financial access.…”

Section: Literature Review: Remittance Openness and Financial Stabilitymentioning

confidence: 99%

Dose Remittances Matter for Openness and Financial Stability: Evidence From Least Developed Economies

Miao

Qamruzzaman

2021

Front. Psychol.

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The study's motivation is to gauge the effects of remittances on openness: financial and economic openness and financial stability in least developed countries (LDCs) for the period spanning 1975–2018. The study applies Generalized Moment of Methods (GMM) and System-GMM to detect the magnitude of remittances, gross capital formation, and government debt on openness and financial stability, and their directional association is established by performing a Granger causality test with System-GMM specification. The results of cross-sectional dependency ascertain the presence of a common dynamic among the research units; on the other hand, both first, and second-generation unit root tests establish that variables are integrated either at level or after the first difference, neither variables are exposed to order of integration after second difference. A panel co-integration test based on error correction confirms the availability of the long-run association among variables. Study findings with GMM and System-GMM estimation expose positive statistically significant effects of remittance inflows to economic and financial openness and financial stability. In LDCs, remittance inflows positively augment economic and financial openness; moreover, financial stability remittances play a critical role. The study implemented the Granger causality test with System-GMM specification, and results disclosed the feedback hypothesis that is bidirectional causality availability in the tested empirical causal model.JEL Classifications: F24, F43, P34.

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“…Literature review Anetor (2019) examine the relationship between remittances, financial sector development, and economic growth in Nigeria over the period 1981 to 2017. The author used the autoregressive distributed lag (ARDL) model to analyze the long-run and short-run relationships between the variables.…”

Section: Introductionmentioning

confidence: 99%

Remittance in Niger: effects on economic growth and on migrants’ left behind

Oumarou¹

2021

Croatian Review of Economic, Business and Social Statistics

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Remittances have long been an important source of revenue for many people in the Republic of Niger. In order to fight poverty, young people choose to migrate. In 2019, a total of 293 million U.S. dollars was sent by migrants to their relatives in Niger; that is 3% of Niger Gross Domestic Product (GDP). The objective of this study is to analyze the effects of remittances on economic growth in Niger and the significance of its contribution in improving the living condition of migrants’ left behind families. The study applies a three-step econometric procedure followed by a survey on the usage of the remittances in the city of Tahoua (Republic of Niger). The study also performed some tests on the residuals for the accuracy of the prediction of the model. The empirical results showed no long run relationship between remittances, economic growth and gross fixed capital formation in Niger. However, in the short-run, the study revealed the existence of causal effect between remittances and economic growth. On the other hand, the results of the conducted survey in the city of Tahoua showed that 45.7% of the received remittance is used in food expenditure, 19.3% in education expenditure, 10.36% in health expenditure and 5.4% is allocated to house rent. The survey also revealed the importance of the remittances for the left behind. It indicates that 14% of the respondent left behind wish to see another family member engage in migration.

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

Cited by 24 publications

References 31 publications

Human capital flight and output growth nexus: evidence from Nigeria

Human capital flight and output growth nexus: evidence from Nigeria

Dose Remittances Matter for Openness and Financial Stability: Evidence From Least Developed Economies

Remittance in Niger: effects on economic growth and on migrants’ left behind

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