Canaux de Transmission de l'Effet des Transferts de Fonds des Migrants sur la Croissance Economique au Cameroun
Keywords:
migrant remittances, investment, financial development, economic growth
Abstract
The objective of this article is to determine the transmission channels of the effect of remittances on economic growth in Cameroon. Based on the theoretical vision of the developmentalist school, we estimated an ARDL model on time series data. This estimate shows that remittances and financial development have a substitutability effect on economic growth in Cameroon in the long term. Indeed, migrant remittances compensate for the inefficiency of the credit markets in Cameroon, allowing beneficiaries to accumulate financial resources to self-finance investment. This result is in line with the conclusions of studies by Giuliano and Ruiz-Arranz (2009). However, using the same method, migrant remittances positively influence economic growth in Cameroon through the long-term investment channel. The effect becomes more significant when interacting migrant remittances with the Cameroonian financial system. Indeed, remittances passing through formal channels open the possibility to unbanked beneficiaries to have the possibility of taking loans from financial institutions for the financing of economic activities in Cameroon.
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2020-06-03
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