Do international remittances promote human development in poor countries? Empirical evidence from Sub-Saharan Africa

摘要

This paper examines the macroeconomic impact of inward international remittances on human-centered development in 15 Sub-Saharan African countries. Following the fixed-effects balanced panel data estimation procedure for the period, 1987 to 2007, the empirical results reveal that, indeed, international remittance inflows impact positively on human development in the long run. As per the empirical findings, the paper concludes that, given the irreversible high propensity to travel abroad among the productively active citizens of the sub-region in a bid to earn ‘a decent wage’, the relevant institutions and policymakers within the sub-region should devise appropriate strategies and policy framework to attract higher remittances from abroad. The empirical model and methodology used in this paper are relevant and, hence, can be applied in related fields of study.