Socio-Economic Implications of Migrants’ Dollars in Nigeria: A Bounds Test Approach toCo integration
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 1
Abstract
Migrants’ dollars play fundamental roles in the recipient’s economy, especially for the migrant’s households who rely on them for mitigating incidences of poverty and improving their living standard. In this paper, efforts were made to examine the impacts of migrants’ dollars on socio-economic indicators in Nigeria focusing on poverty level and per capita GDP. The Pesaran-Shin Autoregressive Distributed Lag (ARDL) model was applied for analyzing the time series data extracted from the National Bureau of Statistics and World Bank Development Indicators over the period 1985-2016. The Kwiatkowski, Phillips, Schmidt and Shin (KPSS) unit root test results reveal that the series are mixed integrated with evidences of levels and first difference stationary. It was found from the bounds test results that the variables in each of the models are cointegrated. The ARDL estimates indicate that personal remittances negatively impacted on poverty headcount in the short run. One percentage increase in personal remittances at contemporaneous level and lag 1 mitigates poverty headcount by 7.50 percent and 9.49 percent respectively. The results further indicate that ODA is effective in enhancing per capita GDP in the long run. Increase in ODA by 1 percent leads to 0.11 percent increase in per capita GDP. The recommendation proffered in view of the findings is that policy makers and stakeholders alike should collaborate to ensure productive use of migrants’ dollars to enable them serve as hedge against poverty and stimulate per capita GDP.
Authors and Affiliations
Ozigbu Johnbosco Chukwuma
Keywords
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- EP ID EP414522
- DOI 10.9790/5933-090105159.
- Views 191
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