Adenutsi DE PhDThesis FLB REM (2024)

IZA Journal of development and migration, 2022

European Scientific Journal, 2012

In this study, we empirically investigated the determinants of migrant remittances for the five countries that make up West Africa Monetary Zones (WAMZ). Panel secondary data from World Bank and International Monetary Fund data bases for the period 1990-2016 were used for the analysis. Both descriptive statistics and Pooled Mean Group (PMG) estimator was used for the analysis. The result revealed that remittance inflow into WAMZ was influenced by unemployment rate, the level of financial sector development, exchange rate of domestic currency, real per capita income of recipient country, and the level of development of source country. However, lower migrant remittance was associated with higher per capita income and depreciation of exchange rate in recipient country. The study recommends that the government of countries in the zone should make efforts to develop their financial systems and ensure that exchange rate is market friendly to encourage migrants to remit more money home. To encourage remittance inflows into WAMZ the study recommends that government of WAMZ should strengthen their financial sectors through implementation of appropriate regulatory measures.

This study examined the direction and magnitude of remittances effect on .financial development in Nigeria. Using DMB deposit, credit, loan and liquidity to proxy for .financial development, and adopting a structural dynamic model, we found that workers ' remittances show a sign of positive effect on demand deposit, positive and significant effect on liquidity and positive and significant effect on DMB credit and loan. This implies that workers' remittances in Nigeria are important drivers of financial deepening. Thus, effort at making saving attractive and reducing parallel market premium will unarguably raise the proportion of banked remittances and improve financial development.

Santiago, Chile: Series in Macroeconomía del …, 2003

SN Business & Economics

The Pakistan Development Review

This paper investigates the impact of remittance inflows on economic growth and poverty reduction for seven African countries using annual data from 1992-2010. By using the depth of hunger as a proxy for poverty in a Simultaneous Equation Model (SEM), we find that remittances have statistically significant growth enhancing and poverty reducing impact. Drawing on our estimates, we conclude that financial development level significantly increases the remittances inflows and strengthens poverty alleviating impact of remittances. Results of our study further show a signficant interactive imapct of remittances and finacial develpment on economic growth, suggesting the substitutability between remittance inflows and financial development. We further find that 3 percentage point increase in credit provision to the private sector (financial development) can help eliminate the severe depth of hunger in the region. Remittances, serving an alternative source of private credit, can be effective...

This paper focuses on the relationships between remittances and the share of individuals working for less than 2$ US per day. It is based on an original panel dataset containing information related to remittances in about 80 developing countries and to the number of workers being paid less than 2 dollars per day as well. Even after factoring in the endogeneity of remittance inflows the results suggest that remittances lead to a decrease in the prevalence of working poor in receiving economies. This effect is stronger in a context of high macroeconomic volatility but is mitigated by the unpredictability of remittances: remittances are more effective to decreasing the share of working poor when they are easily predictable. Moreover, domestic finance and remittances appear as substitutes: remittances are less efficient in reducing the prevalence of working poor whenever finance is available. JEL Classification: F22, F43, O16

In this short case study, we look at a relatively understudied international migrationstream, migration from Turkey to Denmark, with a focus on remittance-sendingbehavior. Our analysis draws on recent fi eldwork carried out in Denmark in between2008 and 2011, thus covering the most recent global fi nancial crisis. Such economiccrises are expected to have an adverse eff ect on the volume of remittance fl ows. Wehave examined this eff ect in the case of Danish Turks, who represent the largest groupamong Muslim immigrants in Denmark. Our analysis shows that the Turkish immigrantsto Denmark over several decades have developed a transnational space based onfrequent visits home and have maintained ties with the hometowns and villages in thecountry of origin, Turkey. We therefore believe that such a transnational space plays arole in the continuation of remitting practices across generations of Turkish immigrantsin Denmark and partly explains the resiliency of remitting behavior to the fi nancial crisis.We have limited our analysis to the survey data and qualitative material we collectedduring the fi eldwork. Nevertheless, our study also

This paper focuses on the relationships between remittances and the share of individuals working for less than 2$ US per day. It is based on an original panel dataset containing information related to remittances in about 80 developing countries and to the number of workers being paid less than 2 dollars per day as well. Even after factoring in the endogeneity of remittance inflows the results suggest that remittances lead to a decrease in the prevalence of working poor in receiving economies. This effect is stronger in a contex of high macroeconomic volatility but is mitigated by the unpredictability of remittances : remittances are more effective to decreasing the share of working poor when they are easily predictable. Moreover, domestic finance and remittances appear as substitutes : remittances are less efficient in reducing the prevalence of working poor whenever finance is available.

Sirkeci, I. Cohen, J., and Ratha, D. (eds.)Migration and Remittances during the Global Financial Crisis and Beyond, The World Bank, Washington, DC. USA. (ISBN: 978-0-8213-8826-6)., 2012

"During the 2008 financial crisis, the possible changes in remittance-sending behavior and potential avenues to alleviate a probable decline in remittance flows became concerns. This book brings together a wide array of studies from around the world focusing on the recent trends in remittance flows. The authors have gathered a select group of researchers from academic, practitioner and policy making bodies. Thus the book can be seen as a conversation between the different stakeholders involved in or affected by remittance flows globally. The book is a first-of-its-kind attempt to analyze the effects of an ongoing crisis on remittance flows globally.Data analyzed by the book reveals three trends. First, The more diversified the destinations and the labour markets for migrants the more resilient are the remittances sent by migrants. Second, the lower the barriers to labor mobility, the stronger the link between remittances and economic cycles in that corridor. And third, as remittances proved to be relatively resilient in comparison to private capital flows, many remittance-dependent countries became even more dependent on remittance inflows for meeting external financing needs.There are several reasons for migration and remittances to be relatively resilient to the crisis. First, remittances are sent by the stock (cumulative flows) of migrants, not only by the recent arrivals (in fact, recent arrivals often do not remit as regularly as they must establish themselves in their new homes). Second, contrary to expectations, return migration did not take place as expected even as the financial crisis reduced employment opportunities in the US and Europe. Third, in addition to the persistence of migrant stocks that lent persistence to remittance flows, existing migrants often absorbed income shocks and continued to send money home. Fourth, if some migrants did return or had the intention to return, they tended to take their savings back to their country of origin. Finally, exchange rate movements during the crisis caused unexpected changes in remittance behavior: as local currencies of many remittance recipient countries depreciated sharply against the US dollar, they produced a 'sale' effect on remittance behavior of migrants in the US and other destination countries.Contents Foreword........................................................................... xvOtaviano Canuto and Hans Timmer Acknowledgments........................................................... xvii Contributors..................................................................... xix Abbreviations.................................................................. xxvii Introduction: Remittance Flows and Practices during the Crisis ................................. 1Ibrahim Sirkeci, Jeffrey H. Cohen, and Dilip Ratha Part I Chapter 1. Theoretical Appraisal: Understanding Remittances................................. 15Jeffrey H. Cohen and Ibrahim Sirkeci Chapter 2. Forecasting Migrant Remittances during the Global Financial Crisis................. 23Sanket Mohapatra and Dilip Ratha Chapter 3. Economic Crises and Migration: Learning from the Past and the Present............ 35Tim Green and L. Alan Winters Chapter 4. Remittance Flow, Working Capital Formation, and Economic Growth............... 53Gabriela Mundaca Part II Chapter 5. The Financial Crisis in the Gulf and Its Impact on South Asian Migration and Remittances......................... 67S. Irudaya Rajan and D. Narayana Chapter 6. Gendered Use of Remittances: The United Arab Emirates–Bangladesh Remittance Corridor........................ 81Md Mizanur Rahman and Danièle Bélanger Chapter 7 Trends and Correlates of Remittances to India ... 93Poonam Gupta and Karan Singh Chapter 8. Shocks Affecting the Flow and Stability of Workers' Remittances to India................... 107Bhupal Singh Chapter 9. Migrant Remittances in Nepal: Impact of Global Financial Crisis and Policy Options ......... 121Sanket Mohapatra, Dilip Ratha, and Ani Silwal Chapter 10. Nepal: Migration History and Trends...... 137Jeevan Raj Sharma Chapter 11. Resilience of Remittances during the Global Financial Crisis and the Entrenchment of Migration............ 141Andrea Riester Chapter 12. Rural-Urban Migration in the Context of Thailand's Ongoing Uneven Development ........ 149Gregory S. Gullette Chapter 13. Migration and Remittances in Bangladesh and Pakistan: Evidence from Two Host Countries ..... 153Guntur Sugiyarto, Carlos Vargas-Silva, and Shikha Jha Chapter 14. Impacts of the Crisis on Migrants and Their Families: A Case Study from Bangladesh........... 171Guntur Sugiyarto, Selim Raihan, Carlos Vargas-Silva, and Shikha Jha Part III Chapter 15. The Impact of the Financial Crisis on Remittance Flows: The Case of El Salvador.......183Pablo Acosta, Javier Baez, Rodolfo Beazley, and Edmundo Murrugarra Chapter 16. Remittance Flows to Mexico and Employment and Total Earnings of Mexican Immigrant Workers in the United States.... 193Jesús A. Cervantes González and Alejandro Barajas del Pino Part IV Chapter 17. T he Impact of the Global Economic Downturn on Remittances from the European Union....... 215Oscar Gómez Lacalle Chapter 18. Remittances and Evolving Migration Flows from Central and Eastern Europe to the United Kingdom....... 227Simon Pemberton and Lisa Scullion Chapter 19. Effects of the Global Crisis on Migration and Remittances in Albania ............... 237Ilir Gedeshi and Nicolaas de Zwager Chapter 20. The Impact of the Global Financial Crisis on Migration to and Remittance Flows from Spain...............255Marta Roig and Joaquín Recaño-Valverde Part V Chapter 21. Forecasting Turkish Workers' Remittances from Germany during the Financial Crisis............... 271Sule Akkoyunlu Chapter 22. Remittances in an Environment of Human Insecurity: The Kurdish Case287Ibrahim Sirkeci Chapter 23. Financial Crisis and Remittances from Denmark to Turkey......................... 293Pinar Yazgan and Ibrahim Sirkeci Chapter 24. Work and Remittance Patterns of Irregular Immigrants in Turkey.................. 301Oguzhan ??mer Demir and M. Alper Sozer Part VI Chapter 25. Labor Migration, Overseas Remittances, and Local Outcomes in the Contemporary Philippines..... 313Ty Matejowsky Chapter 26. The New Zealand–Pacific Remittance Corridor: Lowering Remittance Costs............. 317Don Abel and Kim Hailwood Chapter 27. Role of Trade Openness, Remittances, Capital Inflows, and Financial Development in Vanuatu............. 323Ronald R. Kumar Part VII Chapter 28. Remittances to Sub-Saharan Africa in the Wake of a Financial Crisis: Source of Resilience or Vulnerability?....... 335Wim Naudé and Henri Bezuidenhout Chapter 29. From Shock Absorber to Shock Transmitter: Determinants of Remittances in Sub-Saharan Africa....... 347Raju Jan Singh Chapter 30. A Comparative Examination of Women's Remittance Practices in Two Somali Communities: Johannesburg, South Africa, and Columbus, Ohio....357Marnie Shaffer Part VIII Chapter 31. T he Global Crisis and Expatriates' Remittances to Lebanon..... 363Nassib Ghobril Chapter 32. Migrant Transfers in the MENA Region: A Two-Way Street in Which Traffic Is Changing..........375George Naufal and Carlos Vargas-Silva Bibliography..........................................385 Index.....................................................421"

Journal of Economic and Financial Sciences

The study examined the assumption that ‘size matters’ in the empirical controversy of the relationship between migrants’ remittances and economic growth. This is done through an empirical analysis of the remittances-growth relationships in selected countries in Sub-Saharan Africa, where remittance inflows are overwhelming proportions of real GDP. The study used data at the country level, for five countries: Cape Verde, Lesotho, Nigeria, Senegal and Togo. The long-run ARDL estimates indicate positive and significant effects of migrants’ remittances on growth performance in Cape Verde and Nigeria, but negative, and slightly significant effects for Lesotho, with no evidence of long-run level relationships between remittances and economic growth in Senegal and Togo. Thus, the assumption that size may matter in the remittance–growth nexus finds no support, as findings provide no significant departure from the existing inconclusiveness of empirical literature on the relationship. For poli...

African J. of Economic and Sustainable Development, 2018

IMF Working Papers, 2007

Onyeisi ogbonna samuel, odo idenyi stephen and anoke ifeyinwa charity Department of economics, ebonyi state university, pmd 053, abakaliki, ebonyi state nigeria. Abstract: The objective of the study is to determine empirically the impact of international remittances inflows to domestic credit to private sector, using Nigeria as a case study between 1980 and 2015. In the model specified, domestic credit to private sector(DCPS) is a function of the growth in international remittance inflows (IRIGWT), oversea development assistance, (ODAGNI), real gross domestic product (RGDP), inflation (INFL), exchange rate (EXR).The study used co-integration, vector error correction mechanism for estimation of specified models. In the short run, IRIGWT was found to have positive insignificant link with DCPS while ODAGNI indicated a negative significant relationship with DCPS. The study recommends that Federal Government of Nigeria should adopt strict policy measures to regulate remittances and also to encourage international remittances passing through official channel by reducing the cost of remittances.

The Journal of Developing Areas, 2020

International Journal of Social Economics, 2020

Purpose-The purpose of this paper is to analyse the impact of remittances on human development in developing countries using panel data from 1980 to 2014 and to address the critical question of whether the increasing trend of remittances has any impact on human development in a broad range of developing countries. Design/methodology/approach-Usual panel estimates, such as pooled OLS, fixed or random effects model, possess specification issues such as endogeneity, heterogeneity and measurement errors. In this paper, we, therefore, apply dynamic panel estimates-System generalised method of moment (Sys-GMM) developed by Arellano and Bond (1991) and Arellano and Bover (1995). This estimator is able to control for the endogeneity of all the explanatory variables, account for unobserved country-specific effects that cannot be done using country dummies due to the dynamic structure of the model (Azman-Saini et al., 2010). Findings-The effect of remittances is statistically significant with positive coefficients in developing countries. The significant coefficient of remittances means that, holding other variables constant, a rise in remittance inflows is associated with improvements in human development. A 10 per cent increase in remittances will lead to an increase of approximately 0.016 per cent in human development. These findings are consistent with Üstubuci and Irdam (2012) and Adenutsi (2010), who found evidence that remittances are positively correlated with human development. Practical implications-The paper considers implications for policymakers to justify the need for more effective approaches. Policymakers need to consider indicators of human development and to devise public policies that promote income, health and education, to enhance human development. Originality/value-The question of whether remittances affect human development has rarely been subject to systematic empirical study. Extant research does not resolve the endogeneity problem, whereas the present study provides empirical evidence by utilising dynamic panel estimators such as Sys-GMM to tackle the specification issues of endogeneity, measurement errors and heterogeneity. The present study provides a benchmark for future research on the effect of remittances on human development.