IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT (IJEFM )

E-ISSN 2545-5966
P-ISSN 2695-1932
VOL. 10 NO. 1 2025
DOI: 10.56201/ijefm.v10.no1.2025.pg113.128

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International Migrant Remittance and Economic Growth in Developing Economies

Samuel E. Thomas., Nkamare, Stephen Ekpo & Prof M.O. Nkongnkan

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Abstract

The study investigated international migrant remittances and economic growth in developing economies: A comparative study of Nigeria and South Africa. The specific objectives were to; examine the effect of migrant remittance on economic growth in Nigeria, to examine the effect of remittance on economic growth in South Africa. Data were sourced from Central Bank of Nigeria statistical Bulletin and World Development Index (WDI) from 1983 to 2022. Exploratory design was used in this study. The study adopted ARDL model to establish the effect of independent variable on dependent variable. From the results of the analyses, the ARDL revealed that remittance and economic growth had positive and non-significant in Nigeria. On the other hand, remittance and economic growth had a positive and nonsignificant in South Africa. Based on the findings, the following recommendations were made; Government should improve relation with foreign countries so as to reduce barriers of migration and more citizens can work abroad and send remittances back home; Governments and policymakers should put more emphasis on migration policies, and require amendment for the proper implication of these policies and the productive use of remittances to secure economic growth.

keywords:

International migrant remittances, exchange rate, economic growth.

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