Journal Article

Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa

Raju Jan Singh, Markus Haacker, Kyung-woo Lee and Maëlan Le Goff

in Journal of African Economies

Volume 20, issue 2, pages 312-340
Published in print March 2011 | ISSN: 0963-8024
Published online October 2010 | e-ISSN: 1464-3723 | DOI: https://dx.doi.org/10.1093/jae/ejq039
Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa

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  • International Factor Movements and International Business
  • Macroeconomics: Consumption, Saving, Production, Employment, and Investment
  • Economic Development
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  • International Finance
  • Economywide Country Studies
  • Macroeconomic Aspects of International Trade and Finance

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This paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa. It assembles the most comprehensive data set available so far on remittances in the region; it comprises data for 36 countries for 1990 through 2008, and incorporates newly available data on the size and location of the diaspora. We find that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave counter-cyclically, 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.

Keywords: E20; F20; F22; F24; F36; F43; O15; O43; O55

Journal Article.  8176 words.  Illustrated.

Subjects: International Factor Movements and International Business ; Macroeconomics: Consumption, Saving, Production, Employment, and Investment ; Economic Development ; Economic Growth and Aggregate Productivity ; International Finance ; Economywide Country Studies ; Macroeconomic Aspects of International Trade and Finance

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