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- W3173961161 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 long run. Our parameter estimates indicate that a 1% increase in remittances would result in a 0.9% decrease in the gross domestic product growth rate in the short run. One policy implication of this study is that Nigeria needs to devise policies and interventions that minimize the emigration of skilled professionals rather than depending on remittances that do not offset the losses to the economy due to brain drain." @default.
- W3173961161 created "2021-07-05" @default.
- W3173961161 creator A5048472529 @default.
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- W3173961161 date "2021-06-28" @default.
- W3173961161 modified "2023-09-27" @default.
- W3173961161 title "Enhancing Economic Growth and Government Revenue Generation in Nigeria: The Role of Diaspora Remittances" @default.
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- W3173961161 doi "https://doi.org/10.1177/00346446211025647" @default.
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