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Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa
Author:
Mr. Raju J Singh
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,
Kyung-woo Lee null

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Mr. Markus Haacker
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Series:
IMF Working Papers
Volume/Issue:
Volume 2009: Issue 216
Language:
English
Publication Date:
01 Oct 2009
DOI:
https://doi.org/10.5089/9781451873634.001
ISBN:
9781451873634
ISSN:
1018-5941
Pages:
26
Keywords:
WP; remittance; GDP; remittance flow; do remittance
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund