Exploring the Nexus between Migrant Remittances and Economic Growth: A Study of Senegal

Samuel Maxime Coly; Pierre Mendy

Authors

Samuel Maxime Coly
Pierre Mendy

Keywords:

migrant remittances; economic growth; ARDL

Abstract

In this study, we assess the relationship between migrant remittances and economic growth in Senegal. The analysis utilized on an econometric approach using the ARDL bound testing method as an estimation technique. The estimation period is from 1980 to 2018. Overall, the estimates show a negative relationship between remittances and economic growth and an insignificant effect in the long run, while the nexus between economic growth and investment is positive in the long term. This provides the prospect of a study on the analysis of the impact on the economic growth of reallocation of remittances from consumption needs to savingsinvestment purposes.

Downloads

How to Cite

Exploring the Nexus between Migrant Remittances and Economic Growth: A Study of Senegal. (2020). Global Journal of Human-Social Science, 20(E4), 29-40. https://socialscienceresearch.org/index.php/GJHSS/article/view/3204

Download Citation

References

A Acosta, N Baerg, S Mandleman (2009) Financial Development, Remittances, and Real Exchange Rate Appreciation. 94(1).

A Acosta (2007) Entrepreneurship, Labour Markets, and International Remittances: Evidence from El Salvador. 141-159.

Richard Adams, John Page (2005) Do international migration and remittances reduce poverty in developing countries?. 33(10), 1645-1669.

L Adouka, A Belmimoun, K Kerbouche, R Mokeddem (2014) The impact of migrants' remittances on economic growth empirical study: case of algeria (1970-2010). 10(13).

Reena Aggarwal, Asli Demirgüç-Kunt, Maria Pería (2010) Do remittances promote financial development?. 96(2), 255-264.

C Amuedo-Dorantes, S Pozo (2004) Workers' Remittances and the Real Exchange Rate: A Paradox of Gifts. 32(8), 1407-1417.

J Anyanwu, A Erhijakpor (2009) Global Development Studies (Special Issue on Global Labor Mi gration and Em erging Trends in Development Finance: An Assessment of the Economic and Social Impact of Migrant (Worker) Remittances in Sub Saharan Africa). 3-4.

Muhammad Azam, A Khan (2011) The role of migrant workers remittances in fostering economic growth. 42(8), 690-705.

A Barajas, R Chami, C Fullenkamp, M Gapen, P Montiel (2009) Do Workers' Remittances Promote Economic Growth?.

G Bardsen (1989) Estimation of long -run coefficients in error-correction models. 51, 345-350.

Robert Barro (1991) Economic Growth in a Cross Section of Countries. 106(2), 407.

R Barro (2000) Une croissance économique inférieure à la moyenne des pays de l'OCDE.

H Bussol O, H Lopez, L Molina (2007) Remittances and the Exchange Rate.

Ralph Chami, Connel Fullenkamp, Samir Jahjah (2005) Are Immigrant Remittance Flows a Source of Capital for Development?. 52(1), 55-81.

P Gammeltoft (2002) Remittances and other financial flows to devel oping countries.

Pablo Garcia-Fuentes (2009) Remittances, foreign direct investment and economic growth in Latin America and the Caribbean.

P Giuliano, M Ruiz-Arranz (2009) Remittances, financial development, and growth. 90, 144-152.

M Imoro, J Nyeadi, N Yidana (2014) Remittances and Economic Growth Nexus: Empirical Evidence from Nigeria, Senegal and Togo. 4(10).

T Jayaraman, C Choong, R Kumar (2010) Role of Remittances in Tongan Economy. 7(2), 224-230.

K Karagoz (2009) Workers' Remittances and Economic Growth: Evidence from Turkey. 4(13), 1891-1908.

Ronald Kumar, Peter Stauvermann (2014) Exploring the nexus between remittances and economic growth: a study of Bangladesh. 61(4), 399-415.

Michael Lipton (1980) Migration from rural areas of poor countries: The impact on rural productivity and income distribution. 8(1), 1-24.

M Luqman, M Haq (2016) Contribution of workers' remittances to economic growth in Pakistan: exploring the role of financial sector development. 5(1), 37-54.

N Mankiw, D Romer, D Weil (1992) A Contribution to the Empirics of Ec onomic Growth. 107, 407-437.

Yuru Gao, Ji-An Lee (2007) Effect of Meridian Growth Massage on Stress Resistance and Corrected Body Shapes of Students in Growth Period. 19(1), 259-272.

Paresh Narayan (2005) The saving and investment nexus for China: evidence from cointegration tests. 37(17), 1979-1990.

A Nusrate, S Sen, P Sun, L Wu (2015) Migrant Workers' Remittances and Economic Growth: The Role of Financial Devel opment.

M Orozco, E Burgess, C Massardier (2010) Remittance transfers in Senegal: preliminary findings, lessons, and recommendations on its marketplace and financial access opportunities.

H Paranavithana (2014) Do Workers' Remittances Cushion Economic Growth in Sri Lanka?. 5(10), 44-56.

M Pesaran, Y Shin (1999) An autoregressive distributed lag modelling approach to cointegration analysis.

M Pesaran, B Pesaran (1997) Working with Microfit 4.0: Interactive Econometric Analysis.

M Pesaran, Yongcheol Shin, Richard Smith (2001) Bounds testing approaches to the analysis of level relationships. 16(3), 289-326.

M Ramirez (2012) Do financial and institutional variables enhance the impact of remittances on economic growth in Latin America and the Caribbean? A panel cointegration analysis. 19, 273-288.

P Rao, T Tolcha (2016) The Impact of Remittances on Economic Growth: Evidence from African countries. 3(8).

D Ratha, A Silwal (2005) Migration and Development Brief 24.

D Ratha (2003) Global Development Finance 2003 Vol 1 (Analysis and Statistical Appendix).

Dani Rodrik (2007) The Real Exchange Rate and Economic Growth. 2008(2), 365-412.

Paul Romer (1986) Increasing Returns and Long-Run Growth. 94(5), 1002-1037.

Abu Siddique, E Selvanathan, Saroja Selvanathan (2012) Remittances and Economic Growth: Empirical Evidence from Bangladesh, India and Sri Lanka. 48(8), 1045-1062.

Robert Solow (1956) A Contribution to the Theory of Economic Growth. 70(1), 65.

T Syed, A Syed (2012) Workers' remittances and economic growth in China and Korea: an empirical analysis. 5(3), 185-193.