Journal
WORLD DEVELOPMENT
Volume 37, Issue 1, Pages 104-115Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.worlddev.2008.05.007
Keywords
remittances; poverty; financial development; Africa
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This paper assesses the effect of the steadily growing remittance flows to sub-Saharan Africa. Though the region receives only a small portion of the total recorded remittances to developing countries, and the volume of aid flows to sub-Saharan Africa swamps remittances, this paper finds that remittances. Which are a stable, private transfer, have a direct poverty-mitigating effect, and promote financial development. These findings hold even after factoring in the reverse causality between remittances, poverty, and financial development. The paper posits that formalizing such flows can serve its an effective access point for unbanked individuals. and households. Published by Elsevier Ltd.
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