Harnessing remittances through formal channels for development in sub-Saharan Africa

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dc.date.accessioned 2014-08-06 en
dc.date.accessioned 2022-08-17T16:56:06Z
dc.date.available 2022-08-17T16:56:06Z
dc.date.issued 2015-08-25 en
dc.identifier.uri http://hdl.handle.net/20.500.11910/2307
dc.description.abstract This paper investigates how sub-Saharan African (SSA) countries could harness remittances through formal channels for development using annual data for 35 countries from 1980 to 2008. We control for country heterogeneity, endogeneity and cross-sectional dependence of the error term using the least square dummy variable (LSDV) estimator with Driscoll and Kraay (1998) corrected standard errors, the Kiviet (1995) bias-corrected LSDV estimator and feasible generalized least squares (FGLS) by Parks (1967) and Kmenta (1986). We find that financial deepening in the home country is critical to the use of formal channels and the ability of sub-Saharan African countries to harness remittances for development. Besides remitting home for altruistic reasons, sub-Saharan African migrants would also respond to investment opportunities in their home countries, contingent on a stable exchange rate. Sub-Saharan African migrants also remit more money home when their incomes increase in the host country. en
dc.format.medium Print en
dc.publisher College of Business en
dc.subject DEVELOPMENT en
dc.subject SUB-SAHARAN AFRICA en
dc.subject MIGRANTS en
dc.subject MIGRATION en
dc.title Harnessing remittances through formal channels for development in sub-Saharan Africa en
dc.type Journal Article en
dc.description.version Y en
dc.ProjectNumber N/A en
dc.Volume 48(3) en
dc.BudgetYear 2014/15 en
dc.ResearchGroup Economic Perfomance and Development en
dc.SourceTitle Journal of Developing Areas en
dc.PlaceOfPublication Tennesee, USA en
dc.ArchiveNumber 8305 en
dc.PageNumber 321-337 en
dc.outputnumber 7033 en
dc.bibliographictitle Kemegue, F.M., Owusu-Sekyere, E. & Van Eyden, R. (2014) Harnessing remittances through formal channels for development in sub-Saharan Africa. Journal of Developing Areas. 48(3):321-337. http://hdl.handle.net/20.500.11910/2307 en
dc.publicationyear 2014 en
dc.contributor.author1 Kemegue, F.M. en
dc.contributor.author2 Owusu-Sekyere, E. en
dc.contributor.author3 Van Eyden, R. en

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