2021
DOI: 10.1177/00346446211025647
|View full text |Cite
|
Sign up to set email alerts
|

Enhancing Economic Growth and Government Revenue Generation in Nigeria: The Role of Diaspora Remittances

Abstract: Even though remittances constitute the second-largest source of foreign exchange for Nigeria, with a $24 billion inflow in 2018, its impact on economic growth remains unclear. This study, therefore, examined the short-run and long-run impact of remittances on the economic growth of Nigeria using the vector error correction model. Utilizing World Bank data covering 1990–2018, the empirical analysis revealed that remittances hurt economic growth in the short run while having no impact on economic growth in the l… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
1
1

Citation Types

0
2
0

Year Published

2022
2022
2023
2023

Publication Types

Select...
2
1

Relationship

0
3

Authors

Journals

citations
Cited by 3 publications
(2 citation statements)
references
References 55 publications
(62 reference statements)
0
2
0
Order By: Relevance
“…And this can result in substantial economic impact: In Nigeria, remittances, given by ethnic Nigerians in diaspora, constitute a significant source of foreign currency with a $20.9 billion inflow in 2022 (World Bank, 2022). Neither this inflow nor its benefits should be taken for granted, however, as Didia and Tahir (2022) found remittances do not automatically enhance economic growth, with a large portion of remittances going towards consumption and social insurance rather than investment. They recommend that by better understanding the diaspora and earning their trust, remittance behaviour could be improved and channelled towards economic growth.…”
Section: Discussionmentioning
confidence: 99%
“…And this can result in substantial economic impact: In Nigeria, remittances, given by ethnic Nigerians in diaspora, constitute a significant source of foreign currency with a $20.9 billion inflow in 2022 (World Bank, 2022). Neither this inflow nor its benefits should be taken for granted, however, as Didia and Tahir (2022) found remittances do not automatically enhance economic growth, with a large portion of remittances going towards consumption and social insurance rather than investment. They recommend that by better understanding the diaspora and earning their trust, remittance behaviour could be improved and channelled towards economic growth.…”
Section: Discussionmentioning
confidence: 99%
“…A study by Didia & Tahir (2021) concludes that despite being a large source of foreign exchange in the country, remittance inflow has no long-run impact on total output in Nigeria.…”
Section: Empirical Reviewmentioning
confidence: 99%