IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 2 NO. 5 2016

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Migration, Money Remittances and their Effects on Household: A Synthesis of Literatures

Olatomide. W. Olowa and Omowumi A. Olowa

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Abstract

Migrant remittances are a steadily growing external source of capital for developing countries of which Nigeria belong. While foreign direct investments and capital markets flows fall sharply in the last years due to recession in the high income countries, migrant remittances continued to grow. Remittances may indirectly affect household income through changes in the labour supply of those remaining behind; relaxation of working capital constraints that expand income from entrepreneurial or farming activities; and multiplier effects on household income factors that determines money remittances are multifaceted. These factors that have been articulated by myriads of studies are elucidated in this paper. Consequent upon various outcomes as articulated in this paper, it was recommended that policy measures that frees billions that go to transfer companies in form of profit to get to migrants household should be pursued.

keywords:

Remittances, Determinant, Altruism, Money, Migrant household, Literature Review

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