Remittances in North and Central Asian Countries: Enhancing Development Potential

Prokhorova, Anna

doi:10.18356/26c33c69-en

Cited by 10 publications

(6 citation statements)

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“…Also, remittances can contribute to decreases in income inequality by promoting private sector productivity, job creation, and human capital development by boosting investment in health and education (Kumar & Patel, 2021;Akobeng, 2021;World Bank, 2018;Williams, 2016). Although concerns have been raised that remittances can heighten income inequality through the polarisation of resources (Prokhorova, 2017;Anyanwu, 2011) and environmental degradation, as related to the remittance-led emission hypothesis Khan et al, 2020), some studies argue that remittances can support improvement in environmental quality through the adoption and increased use of clean fuels and green technology (Wang et al 2021;Ahmad et al, 2019). Finally, we consider vulnerable employment due to the high levels of informality in Africa.…”

Section: Datamentioning

confidence: 99%

Foreign direct investment and inclusive green growth in Africa: Energy efficiency contingencies and thresholds

Ofori¹,

Gbolonyo²,

Ojöng³

2023

Energy Economics

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Section: Datamentioning

confidence: 99%

Foreign direct investment and inclusive green growth in Africa: Energy efficiency contingencies and thresholds

Ofori¹,

Gbolonyo²,

Ojöng³

2023

Energy Economics

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“…Additionally, an efficient financial sector could also double as an (i) incentive for boosting the inflow of remittances and (ii) channelling it into productive ventures (World Bank, 2016;King & Levine, 1993;Levine, 2005). Within-country Financial Development, Financial Institutions Index, andRemittances in Africa, 1996 -2020 Nevertheless, in the presence of a weak financial sector in terms of access, depth and efficiency as we show in Figure 1 and Figure 3, even if remittances flow through the financial system it can polarise resource allocation, further deepening income inequalities in the process (Prokhorova, 2017;Anyanwu, 2011)…”

Section: In-country Developments On Inequality Remittances and Financ...mentioning

confidence: 92%

“…Nonetheless, prior contributions such as Prokhorova (2017) and Anyanwu (2011) raise the concerns that remittances can heighten income inequality if the bulk of inflows benefits affluent households or uninvested in productive ventures. This is where Africa's financial system, though in early stages of development as vividly shown in Figure 3, could prove crucial for turning remittances into significant socioeconomic successes.…”

Section: In-country Developments On Inequality Remittances and Financ...mentioning

confidence: 99%

Remittances and Income Inequality in Africa: Financial Development Thresholds for Economic Policy

Ofori

Gbolonyo

Dossou

et al. 2022

Preprint

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The study employs macrodata on 42 African countries to examine whether remittances and financial development (including the sub-components of access, depth and efficiency) contribute to the equalisation of incomes across the continent. Robust evidence from the dynamic GMM estimator shows that: (i) remittances heighten income inequality in Africa, (ii) Africa’s financial system is not potent enough for repacking remittances towards the equalisation of incomes, and (iii) vis-à-vis financial access and depth, inefficiencies characterising Africa’s financial institution is the main reason remittances contribute to the widening of the income disparity gap. Nonetheless, the optimism which we provide by way of threshold analysis shows that channelling efforts into the development of Africa’s financial sector could yield shared income distribution dividends. In particular, efforts should be made to achieve a minimum of 23.05 per cent of financial access, and 3.02 per cent for that of efficiency of financial institutions if Africa’s financial sector is to repackage external finance towards the equalisation of incomes. A few policy recommendations are provided in the end.JEL Codes: F22, F24, G21, I3, N37, O11, O55

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“…Foreign remittance has been considered as dependent variable whereas poverty reduction has been considered as independent variable. Further, the poverty reduction is measured based on various proxies that include gross domestic product, capital formation, unemployment, and poverty size (Prokhorova, 2017;Zotova and Cohen, 2016). The annual time series data has been taken for the time ranging from 2008 to 2019.…”

Section: Methodsmentioning

confidence: 99%

Analyzing the Impact of Foreign Remittances upon Poverty: A Case of Uzbekistan from Central Asia.

Kayani

2022

IJEFI

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Remittances have always played a central role in strengthening the economies of low-income and middle-income developing countries. The remittances have also provided a phenomenal support to the economy of Uzbekistan, which is the third leading recipient country of foreign remittances in the Central Asian region after Kyrgzstan and Tajikistan. There is a strong need to investigate the impact of foreign remittances upon poverty reduction in case of Uzbekistan. This study has empirically investigated the impact of remittances on poverty in Uzbekistan by taking the variables like remittances, poverty size, capital formation, per capita GDP, savings and unemployment for the period of 2008-2019. Ordinary Least Square Regression was applied, and the results show an insignificant relationship between foreign remittances and poverty reduction. The reason could be that remittances in Uzbekistan are not pro-poor as mostly the workers from the rich families migrate to Russia. Furthermore most of the migrant workers prefer to settle down in Russia along with their families.

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Remittances in North and Central Asian Countries: Enhancing Development Potential

Cited by 10 publications

References 0 publications

Foreign direct investment and inclusive green growth in Africa: Energy efficiency contingencies and thresholds

Foreign direct investment and inclusive green growth in Africa: Energy efficiency contingencies and thresholds

Remittances and Income Inequality in Africa: Financial Development Thresholds for Economic Policy

Analyzing the Impact of Foreign Remittances upon Poverty: A Case of Uzbekistan from Central Asia.

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