THE ROLE OF REMITTANCES IN THE ECONOMIC GROWTH OF NIGERIA

  • Type: Project
  • Department: Banking and Finance
  • Project ID: BFN2358
  • Access Fee: ₦5,000 ($14)
  • Pages: 61 Pages
  • Format: Microsoft Word
  • Views: 236
  • Report This work

For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

ABSTRACT

Remittances constitute a portion of international migrant workers earnings sent back from the country of employment to the country of origin.While the rates and levels of officially recorded remittances to developing countries has increased enormously over the last decade, academic and policy-oriented research has not come to a consensus over whether remittances contribute to longer-term growth (Nnaemeka, 2007).This study focuses on the role of remittances in the economic growth of Nigeria. The following variables were identified as the most relevant for the purpose of this study: Real Gross Domestic Product, Workers Remittances and Compensation, Net private capital flows and Effective Exchange Rate. Using data set from 1980 to 2010, with the aid of Econometric views (E views), the model is estimated using ordinary least square technique of estimation to estimate relationship between the selected variables. We find that Workers’ Remittances and compensation received has a positive impact on economic growth in the country over the period considered. It was recommended that Government needs to put up policy schemes that aims to enhance the amount of remittances coming through formal channels thus making it possible for remittances to be put to investment means that can boost economic growth.

 

TABLE OF CONTENTS

Title Page……………………………………………………………………………................i

Certification…………………………………………………………………………………...ii

Dedication…………………………………………………………………………………….iii

Acknowledgements……………………………………………………………………….…..iv

Table of Contents………………………………………………………………………….….vi

List of Tables and Figures……………………………………………………………….......viii

Abstract…………………………………………………………………………………….....ix

CHAPTER ONE: INTRODUCTION

1.1        Background to the Study……………………………………………………….…......1

1.2        Statement of the Problem………………………………………………………….......3

1.3  Objectives of the Study…………………………………………………………..........3

1.4  Hypothesis …………………………………………………………………….............4

1.5  Significance of the Study…………………………………………………………..….4

1.6        Scope of Study……………………………………………………………………..….4

1.7  Sources and Coverage of Data ………………......……………………………….…...5

1.8  Brief Methodology.........................................................................................................5

1.9   Organization of Study....................................................................................................5

1.10          Operational Definition of Terms………………………………………………............6

CHAPTER TWO:LITERATURE REVIEW

2.1  Introduction....................................................................................................................7

2.2  The Review................................ ....................................................................................7

2.2.1 The Concept of Remittances............................................................................................7

2.2.2 The Nigerian Remittance Market.....................................................................................9

2.2.3 Economic Growth: An Overview....................................................................................13

2.2.4 Remittance and Economic Growth..................................................................................16

2.2.5Economic, Political and Social effects of remittances.....................................................20

2.3Summary.........................................................................................................................21

CHAPTER THREE: THEORETICAL FRAMEWORK AND RESEARCH   METHODOLOGY  

3.1Introduction .......................................................................................................................24

3.2Theoretical Framework.......................................................................................................24

3.3Research Methodology.......................................................................................................25

3.3.1Model Specification.........................................................................................................26

3.4Estimation Technique..........................................................................................................27

3.5Data Source.........................................................................................................................27

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS OF FINDINGS

4.1Introduction.........................................................................................................................28

4.2Analysis of Remittances Trend...........................................................................................28

4.3Statistical Tests andPresentation of Regression Results...................................................30

CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCUSION

5.1Summary.............................................................................................................................38

5.2Recommendations...............................................................................................................39

5.3Conclusion...........................................................................................................................42

REFERENCES.......................................................................................................................44

APPENDICES........................................................................................................................48

LIST OF TABLES AND FIGURES

TABLES

Table 4.2 Workers Remittances and Compensation................................................................29

FIGURES

Figure 2.1 Mechanisms Involved in the Formal Remittance Market.......................................11

Figure 4.1 Remittance Trends in Nigeria (1990-2010)............................................................28

Figure 4.2 Remittances alongside ODA and FDI...................................................................30


 

THE ROLE OF REMITTANCES IN THE ECONOMIC GROWTH OF NIGERIA
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

Share This
  • Type: Project
  • Department: Banking and Finance
  • Project ID: BFN2358
  • Access Fee: ₦5,000 ($14)
  • Pages: 61 Pages
  • Format: Microsoft Word
  • Views: 236
Payment Instruction
Bank payment for Nigerians, Make a payment of ₦ 5,000 to

Bank GTBANK
gtbank
Account Name Obiaks Business Venture
Account Number 0211074565

Bitcoin: Make a payment of 0.0005 to

Bitcoin(Btc)

btc wallet
Copy to clipboard Copy text

500
Leave a comment...

    Details

    Type Project
    Department Banking and Finance
    Project ID BFN2358
    Fee ₦5,000 ($14)
    No of Pages 61 Pages
    Format Microsoft Word

    Related Works

    ABSTRACT A booming interest on the topic of Diaspora remittances has developed over the past few years on the part ofacademics, donors, international financial institutions, commercial banks, money transfer operators, microfinance institutions, andpolicy makers, The surge of remittances to countries of origin in the last two decades, exceeding aid... Continue Reading
    ABSTRACT This study investigates the role of e-payment systems on economic growth in Nigeria over the period of 2010-2018. Specifically, the study analyses the role of e-payment systems on economic growth using value of e-payment transactions and volume of epayment transactions. The study used quarterly time series data for value of POS, ATM,... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1       Background to the Study The role of entrepreneurship in the growth and development of our dear nation cannot be overlooked and as a result of the consistent rise in the level of unemployment and the upward increase in the level of poverty in Nigeria, it has become crucial for Nigerians to quit searching for... Continue Reading
    THE ROLE OF CENTRAL BANK IN ECONOMIC GROWTH IN NIGERIA(1986 - 2011) ABSTRACT This research work examined the role of Central bank in development of Nigeria Economy (1986-2010). Secondary data were used in this research work. The hypothesis was tested to examine the significance of relationship that exist between monetary policy tools, exchange... Continue Reading
    ABSTRACT This study examines the role of personal income tax on the economic growth of Nigeria. the objective of the study was to determine how tax income affects economic growth in Nigeria. To achieve this objective, relevant secondary data from the period of 2000-2012 on personal income tax were collected from the Central Bank of Nigeria (CBN)... Continue Reading
    ABSTRACT  The purpose of the study was to determine the role of agriculture in economic growth and poverty reduction in Nigeria. The data used were collected from the statistical bulletin of the Central Bank of Nigeria and World Bank’s development indicators, and covered the period of 33 years ranging from 1981 to 2014. Multiple regression was... Continue Reading
    (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC   CHAPTER ONE INTRODUCTION 1.1   BACKGROUND TO THE STUDY Over the years, Multinational corporations (MNCs) have been a source of controversy ever since the East India Company developed the British taste for... Continue Reading
    The Role Of Agricultural Sector As An Accelerator For Economic Growth In Nigeria ABSTRACT The development of agriculture since 1960 and its contribution to the growth of the economy has been discussed in the course of this study. It is however obvious from the analysis that though agriculture has contributed positively to economic growth, there... Continue Reading
    The role of insurance sector in mitigating sudden and devastating occurrences thereby   stimulating   economic   growth   cannot   be   over   emphasised   both   in developed   and   developing   countries.   Recently,   several   interesting   lines   of research have begun to map the specific contributions of... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1   BACKGROUND OF THE STUDY Government revenue refers to the revenue received by a government to finance its operations and development projects. It is an important tool of the fiscal policy of the government as it facilitates government spending (OECD, 2008b). Governments need to perform various functions in the field... Continue Reading
    Call Us
    whatsappWhatsApp Us