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The Impacts of Remittances on Nigeria’s Economic Growth: A Study of Nigerian Diasporas in Ghana

Fayomi, Oluyemi Oyenike and Azuh, Dominic E. and Yartey Ajayi, Lady (2015) The Impacts of Remittances on Nigeria’s Economic Growth: A Study of Nigerian Diasporas in Ghana. Journal of South African Business Research, 2015. ISSN DOI: 10.5171/2015.598378

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The paper investigates the activities of Nigerian diasporas in Ghana from the perspective of the money remitted to Nigeria for its economic growth. There are complexities and dynamism in patterns of migration, remittances and its attendants’ implications to economic growth within the sub-region of West Africa. The study made use of primary data with the aid of questionnaire instrument and a population size of 326 respondents living in Ghana. The analysis which employed both a non-parametric (chi-square) and a linear regression estimator shows that remittances from the Nigerian diasporas in Ghana are significant to the economic growth of Nigeria. Also, the result revealed that remittances have significantly supported savings and investment in Nigeria including community-based developmental projects and charity support activities. Consequently, there is a need to provide adequate infrastructures for attracting more remittances from the diasporas into the economy through a better formal financial and high interest reward investment scheme.

Item Type: Article
Uncontrolled Keywords: Remittances, Diasporas, Migration, Circular.
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HC Economic History and Conditions
J Political Science > JV Colonies and colonization. Emigration and immigration. International migration
J Political Science > JZ International relations
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Aderonke Olufunke Asaolu
Date Deposited: 15 Feb 2016 17:20
Last Modified: 19 Jun 2017 08:12

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