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The impact of remittances on economic growth in Ghana: An ARDL bound test approach
Open accessAbstract
International remittances remained one major source of international financial resources in the world. Yet very limited empirical studies exist on the impact of these remittances on economic growth, more especially in Ghana. To bridge this void in literature, the study analyzes the impact of remittances on GDP growth in Ghana from 1990 to 2020. The ARDL estimation technique was used to test the long-run association between the selected variables. The results showed that GDP growth rate has a long-run relationship with remittance inflows, foreign direct investment, unemployment rate, inflation, trade, population growth rate and official development assistance. Lastly, the mediating effect of unemployment on remittance inflows negatively affects GDP growth rate in both runs. It is therefore recommended that to ensure sustained GDP growth rate in Ghana, government should consider tapping into the contribution of remittances by ensuring reliable transfer means and cutting down the cost of transfer.
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“this finding in line with most prior studies (see Abdulai, 2023;Adjei et al., 2020;Bucevska, 2022;cazachevici et al., 2020).”
From Remittance–economic growth linkage in Africa: the roles of financial development and inflation (2025) · cites this paper as Abdulai, 2023
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Cited by
Remittance–economic growth linkage in Africa: the roles of financial development and inflation
Yakubu, I. N., Issaku, K. M., & Oumarou, S. (2025) · Cogent Social Sciences · doi:10.1080/23311886.2025.2595306 · Cited by 4
“…channels such as increased household consumption, investment, and human capital development. this finding in line with most prior studies (see Abdulai, 2023; Adjei et al., 2020; Bucevska, 2022; cazachevici et al., 2020). financial development (fd) shows a negative and highly significant…”
Metadata
- Authors
- Abdulai, A.-M.
- Affiliations
- University for Development Studies (GH)
- Corresponding author
- Abdulai, Abdul-Malik
- ORCID
- Abdulai, Abdul-Malik
- Venue
- Cogent Economics & Finance
- Publisher
- Informa UK Limited
- Published
- 2023-08-11
- Volume
- 11
- Issue
- 2
- ISSN
- 2332-2039 (ISSN-L)
- OpenAlex
- W4385749380
- Cited by
- 35
- References
- 0
- Citations by year
- 2026: 12 · 2025: 8 · 2024: 13 · 2023: 2
- FWCI
- 15.10
- Type
- journal article
- Language
- en
- Open access
- gold
- doi.org
- Licence
- Locations
- Cogent Economics & Finance (publishedVersion, cc-by)
- Econstor (Econstor) (submittedVersion, cc-by)
- RePEc: Research Papers in Economics (submittedVersion)
- DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
- Topics
- Social Sciences › Sociology and Political Science › Migration and Labor Dynamics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Development
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Keywords
- remittances, economic growth, Ghana, GDP growth, unemployment, foreign direct investment, inflation, trade, population growth, official development assistance, long-run relationship
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