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Remittances, financial development and economic growth in sub-Saharan African countries: Evidence from a PMG-ARDL approach

Olayungbo, D. O ; Quadri, Ahmod

Financial Innovation, 2019-02, Vol.5 (1), p.1-25, Article 9 [Periódico revisado por pares]

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Título:
Remittances, financial development and economic growth in sub-Saharan African countries: Evidence from a PMG-ARDL approach
Autor: Olayungbo, D. O ; Quadri, Ahmod
Assuntos: African countries ; Analysis ; Economic aspects ; Economic development ; Economic growth ; Economics ; Economics and Finance ; Emigrant remittances ; Financial development ; Granger causality test ; Growth ; Macroeconomics/Monetary Economics//Financial Economics ; PMG/MG-ARDL ; Political Economy/Economic Systems ; Remittances ; Sub-Saharan Africa
É parte de: Financial Innovation, 2019-02, Vol.5 (1), p.1-25, Article 9
Descrição: The study investigated the relationship among remittances, financial development and economic growth in a panel of 20 sub-Saharan African countries over the period of 2000 and 2015. The study used both Pooled Mean Group and Mean Group/ARDL estimations with panel unit root and cointegration tests. After establishing cointegration, remittances and financial development were found to have positive effects on economic growth both in the short and the long run. The interactive term showed that financial development acted as a substitute in the remittances-growth relationship. Finally, unidirectional causal relationships were found to exist from GDP to remittances and from financial development to GDP. However, no causality existed between remittances and financial development in the SSA countries.
Editor: Heidelberg: Springer
Idioma: Inglês

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