TY - JOUR
T1 - Out of inequality and poverty
T2 - Evidence for the effectiveness of remittances in Sub-Saharan Africa
AU - Akobeng, Eric
N1 - Publisher Copyright:
© 2015 The Board of Trustees of the University of Illinois.
PY - 2016/5/1
Y1 - 2016/5/1
N2 - This paper takes a new look, from a macro perspective, at the issue of remittances effectiveness. An important point of departure for this study is the adoption of poverty reduction, as contrasted with economic growth, as the metric for measuring remittances effectiveness. By controlling for time-invariant country-specific effects and endogeneity, I find that remittances reduce poverty, but the size of the poverty reduction depends on how poverty is being measured. Additionally, remittances have income-equalizing effects. A well-functioning financial sector enhances remittances effectiveness in Sub-Saharan Africa.
AB - This paper takes a new look, from a macro perspective, at the issue of remittances effectiveness. An important point of departure for this study is the adoption of poverty reduction, as contrasted with economic growth, as the metric for measuring remittances effectiveness. By controlling for time-invariant country-specific effects and endogeneity, I find that remittances reduce poverty, but the size of the poverty reduction depends on how poverty is being measured. Additionally, remittances have income-equalizing effects. A well-functioning financial sector enhances remittances effectiveness in Sub-Saharan Africa.
KW - Finance
KW - Inequality
KW - Poverty
KW - Remittances
UR - http://www.scopus.com/inward/record.url?scp=84962611080&partnerID=8YFLogxK
U2 - 10.1016/j.qref.2015.10.008
DO - 10.1016/j.qref.2015.10.008
M3 - Article
AN - SCOPUS:84962611080
SN - 1062-9769
VL - 60
SP - 207
EP - 223
JO - Quarterly Review of Economics and Finance
JF - Quarterly Review of Economics and Finance
ER -