International Remmitance Inflow And Economic Growth In Nigeria
Journal Title: IOSR Journal of Humanities and Social Science - Year 2018, Vol 23, Issue 1
Abstract
The broad objective of the study is to determine empirically the impact of international remittances inflows to domestic economy, using Nigeria as a case study between 1980 and 2015. The specific objectives are to determine to what extent international remittance inflows impact on the growth of domestic economy; to investigate if there is significant casual relationship between international remittance inflows and the growth of domestic economy in Nigeria and to compare the influence of oversea development assistance and international remittance inflows to the growth of domestic product in Nigeria. In the model specified, real gross domestic product (RGDP) is a function of the growth international remittance inflows (IRIGWT), oversea development assistance, (ODAGNI), balance of trade (BOT), and inflation (INFL). The study used co- integration, vector error correction mechanism and granger causality for estimation of specified models. The results of estimation depict a negative significant relationship between IRIGWT and RGDP. Also ODAGNI has positive significant correlation with RGDP, BOT has positive significant relationship while INFL exhibit positive insignificant relation with RGDP. Granger causality results report that causality exist between IRIGWT and RGDP. 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.
Authors and Affiliations
Onyeisi Ogbonna Samuel, Odo Idenyi Stephen
Keywords
Related Articles
- EP ID EP416669
- DOI 10.9790/0837-2301015264.
- Views 65
- Downloads 0
Agricultural Land Use And Cropping Pattern Of Uttar Dinajpur District
Cropping pattern is a dynamic concept because it changes over space and time.It can be define as the proportion of area under various crops at a point of time.In India the cropping pattern determined by rainfall, climate...
Coffee Industry in India – A Historical Perspective
The coffee industry of India is the sixth largest producer of coffee in the world, accounting for over four percent of world coffee production, with the bulk of all production taking place in its Southern states. It is b...
The Identification of Factors of Mentoring In the Context of Science Project Competition
Science project competition is a platform for students to expose their scientific work. In completing their science project, school provides them with mentors. Mentoring has many factors involved which can be implemented...
The Challenges of Implementing Public Policies in Nigeria: Strategies for Effective Development in the Educational Sector.
The implementation of public policy in Nigeria has been hindered in various ways by different governments since the 1960s. The result of these challenges stem from the fact that governments suffered from a clear understa...
Impact of Party Politics on Decision Making In Government: The Nigerian Experience
A political party is an organized group of individuals seeking to attain power to government in order to enjoy the benefits being derived from such control primarily for its members and supposedly for the masses. Politic...