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

Olayungbo, David Oluseun; Quadri, Ahmod

doi:10.1186/s40854-019-0122-8

Cited by 121 publications

(98 citation statements)

References 50 publications

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“…This study employs a pooled mean group or panel ARDL approach because it is appropriate for the studies with small sample size. This study includes 13 countries and 16 years, which is a relatively small sample compared to many studies using panel data (Olayungbo and Quadri, 2019). Arellano and Bond (1991) explained that pooled mean group ARDL and Generalized Method of Moments (GMM) are applicable when the number of periods exceeds the number of cross-sections, i.e.…”

Section: Sample Variable Description and Empirical Modelsmentioning

confidence: 99%

Labor efficiency, government spending and productivity nexus based on panel ARDL approach: Evidence from selected European countries

Wen

Hussain

Saad

et al. 2020

Preprint

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The current study advocates the role of efficient labor, average gross earnings per person, government spending, and quality of human life in defining the productivity of thirteen European countries. This study applied panel ARDL approach for data period ranging from 2001 to 2016. The results, in the long run, suggested that more efficient labor, increased gross earnings, and higher HDI causes higher productivity in the selected European countries. However, the results for the gross earnings were positive but insignificant. Government spending and inflation had a significant negative impact on productivity. These results suggest to keep inflation in check and limit the government expenditure to human development and to the productive uses in the selected countries.

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Section: Sample Variable Description and Empirical Modelsmentioning

confidence: 99%

Labor efficiency, government spending and productivity nexus based on panel ARDL approach: Evidence from selected European countries

Wen

Hussain

Saad

et al. 2020

Preprint

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“…Currently, numerous studies have found that remittance inflows are another potential source that increases environmental degradation in various economies of the world. The remittance inflows have a vital source of foreign capital which significant positive influence on numerous economies outcomes for example financial development (Olayungbo and Quadri 2019), foreign direct investment (Basnet and Upadhyaya 2014), technological innovation (Tshikala et al 2019), and economic growth (Chowdhury 2016), which are measured as an important indicator for environmental sustainability. The BRICS countries have received a remittance of approximately 1.10$ trillion in 2017; these economies have top remittance receiver's economies among developing countries.…”

Section: Introductionmentioning

confidence: 99%

Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?

Yang

Jahanger

Ali

2021

Environ Sci Pollut Res

196

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This study examines the impact of remittance inflows, technological innovations, and financial development on environmental quality in Brazil, India, China, and South Africa (BICS) economies over 1990-2016. This study employed a comprehensive environment proxy, i.e., ecological footprint for environmental quality, and also considers more advanced and robust econometric (second-generation) techniques. The outcomes of the current study reveal that remittance inflows and financial development significantly deteriorate the environmental quality, while technological innovations are an essential factor for the reduction of ecological footprint level. Furthermore, the results of the interaction terms show a significantly adverse effect on the ecological footprint. Additionally, the findings of country-wise analysis reveal that remittance inflows and financial development worsen the environmental quality in each sample country, while the technological innovations promote the environmental sustainability that is steady with panel results. Besides, the environmental Kuznets curve (EKC) hypothesis was verified across the BICS economies. Consistent with the key findings, an inverted U-shaped relationship exists between economic growth and ecological footprint in the case of Brazil and South Africa. In contrast, the U-shaped EKC hypothesis exists in the case of China and India. For robust policy implication, the findings of this study highlighted the dire need for "green policy tools" that should be linked with the BICS economy policies and driver for sustained growth.

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“…Following the studies of (Kumar, 2013;Chowdhury, 2016;Kadozi, 2019;Olayungbo, 2019), we introduce other control variables which have been identified to affect economic growth. Following these studies, we re-specify equation 3…”

Section: Data and Methodology 31 Theoretical Framework And Model Spementioning

confidence: 99%

Asymmetric Effects of Remittances on Economic Growth in Nigeria: Evidence From Non-linear ARDL Analysis

Olayungbo

Olaniyi

2020

Preprint

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Most of the extant studies on remittance-growth nexus have been limited to symmetric and linear effects of remittance on economic growth. Unlike previous studies, we examine asymmetric and nonlinear association between remittance and economic growth within the framework of nonlinear autoregressive distributed lag (NARDL) model utilizing Nigeria’s data from 1981 to 2018. The study finds the evidence to support that growth responds asymmetrically to remittances only in the long-run. It is established that both positive and negative variations in remittance inflows dampen the productive base of the economy in the long-run while positive and negative changes in remittances are growth-retarding and growth-enhancing respectively in the short-run. The study, therefore, concludes that persistent increase in remittance inflows have not been channeled to productive ventures that are capable of stimulating growth in Nigeria. Thus, consistent with the view of pessimistic theorists, continual inflows of remittances to Nigeria could not be termed brain gains to the economy. JEL CLASSIFICATION: F24, F43, O11

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

Cited by 121 publications

References 50 publications

Labor efficiency, government spending and productivity nexus based on panel ARDL approach: Evidence from selected European countries

Labor efficiency, government spending and productivity nexus based on panel ARDL approach: Evidence from selected European countries

Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?

Asymmetric Effects of Remittances on Economic Growth in Nigeria: Evidence From Non-linear ARDL Analysis

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

Cited by 121 publications

References 50 publications

Labor efficiency, government spending and productivity nexus based on panel ARDL approach: Evidence from selected European countries

Labor efficiency, government spending and productivity nexus based on panel ARDL approach: Evidence from selected European countries

Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?

Asymmetric Effects of Remittances on Economic Growth in Nigeria: Evidence From Non-linear ARDL&nbsp;Analysis

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Asymmetric Effects of Remittances on Economic Growth in Nigeria: Evidence From Non-linear ARDL Analysis