Abstract and Keywords
This chapter examines the impact of remittances on economic growth and development in Africa. It begins by considering the debate about whether remittances have a positive or a negative effect on the economy before turning to a discussion of the uniqueness, long-run reliability, and resilience of remittances from African migrants. It then analyses the theoretical underpinnings of the motives of remittances and the determinants of remittances in order to identify the causal factors that tend to increase or decrease the likelihood that migrants will remit. The chapter also assesses the influence of remittances on key growth and development indicators (human capital development, poverty reduction, health, inequality, domestic investments/savings, and the Dutch disease) and concludes by outlining future policy directions for leveraging remittances as a supplemental growth initiative.
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