SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS
SIJDEB, Vol. 5, No. 3, September 2021

Remittances, Trade Balance and Economic Growth in West Africa Sub-region

John Norense Izevbigie (University of Benin, Nigeria)
Nosakhare Liberty Arodoye (University of Benin, Nigeria)
Beatrice Omo-Ikirodah (University of Benin, Nigeria)



Article Info

Publish Date
21 Jan 2022

Abstract

Owing to the domestic economic wide effect of remittances and trade balances, this study examined their impacts in relation to economic growth in West Africa sub-region with secondary data spanning the period 2007 to 2019 using system generalised method of moment estimation technique. Prior to estimation, reliability and validity of the data set was examined. This was followed by unit root test which shows that variables attained stationarity at their first difference while Co-integration test indicated that there exists a long-run convergence among the variables. The result showed that remittances inflows significantly and positively impact economic growth while trade balance exerted a negative and significant impact on economic growth. The over-identifying restrictions test of Jstatistics showed that the instrument of measurement employed is valid. It was recommended among others that policy makers in West Africa should implement policies that continually encourage remittances inflow and export of goods and services.

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Journal Info

Abbrev

SIJDEB

Publisher

Subject

Economics, Econometrics & Finance

Description

The SIJDEB invites manuscripts in the various topics include, but not limited to functional areas of Financial Management, Marketing Management, Human Resource Management, Entrepreneurship, Strategic Management, Public Economics, Monetary Economics, Industrial Economics, Human Resource Economics, ...