IDEAS home Printed from https://ideas.repec.org/a/vrs/finsci/v25y2020i2-3p55-79n2.html
   My bibliography  Save this article

International Remittance Inflows and Import Spending in Nigeria

Author

Listed:
  • Sanusi Gbenga Peter

    (Department of Economics, Faculty of Social and Management SciencesAnchor University, Lagos, Nigeria)

  • Oderinde L. Oladele

    (Department of Economics, Faculty of Social and Management Sciences, Anchor University, Lagos, Nigeria)

Abstract

This study examined the historical trends of remittances and import spending in Nigeria to determine the possible aftermaths of COVID-19 pandemic. Time series data for the period 1977-2019 was used in a VAR model. Result indicates that a unit shock on remittances accounts for about 28% variation in import demand in the second period. Migrant’s remittances and GDP per capita show a weak endogenous relationship. Remittances tend to be stable and not affected by the exchange rate. Thus, import demand may not reduce significantly due to fall in remittances as a consequence of COVID-19. Therefore, improved industrial expansion in the production of goods and services are essential in curtailing aggregate import demand.

Suggested Citation

  • Sanusi Gbenga Peter & Oderinde L. Oladele, 2020. "International Remittance Inflows and Import Spending in Nigeria," Financial Sciences. Nauki o Finansach, Sciendo, vol. 25(2-3), pages 55-79, September.
    • Handle: RePEc:vrs:finsci:v:25:y:2020:i:2-3:p:55-79:n:2
    DOI: 10.15611/fins.2020.2.04
    as

    Download full text from publisher

    File URL: https://doi.org/10.15611/fins.2020.2.04
    Download Restriction: no
    File URL: https://libkey.io/10.15611/fins.2020.2.04?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    international remittance; migrants; import spending; VAR model; Nigeria;
    All these keywords.

    JEL classification:

    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F10 - International Economics - - Trade - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:finsci:v:25:y:2020:i:2-3:p:55-79:n:2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.