INTERNATIONAL REMITTANCES AND INCOME INEQUALITY IN AFRICA

John C. Anyanwu

190 citations0/0 files storedRePEc: Research Papers in Economics

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Migration and Labor Dynamics Income, Poverty, and Inequality Economic Growth and Development

Abstract

This paper investigates the impact of migrant remittances on income inequality in African countries, using a panel of five eight-year non-overlapping windows for the period 1960-2006. The results suggest that, first, international migrant remittances have a significant positive impact on income inequality in African countries. After instrumenting for the possible endogeneity of remittances, a 10 percent increase in remittances as a percentage of GDP will lead, on average, to a 0.013 percent increase in income inequality in Africa. Second, initial per capita GDP strongly increases income inequality. Third, inflation rate appears to be the strongest factor fueling income inequality in the Continent. Fourth, education significantly reduces income inequality. Fifth, the North African dummy and remittances inflows to North Africa largely reduce income inequality in the sub-region while doing the opposite in Sub-Saharan Africa. The policy implications of these results are discussed.

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References

2006World development report 2006: equity and development 2005Workers' Remitt ances: An Important and Stable Source of External Development Finance 1980Migration from rural areas of poor countries: The impact on rural productivity and income distribution 2007What is the Impact of International Remittances on Poverty and Inequality in Latin America?2004The Effects of Infrastructure Development on Growth and Income Distribution 2006Finance and Income Inequality: What Do the Data Tell Us?1989Relative deprivation and international migration.2008Trade and Income Inequality in Developing Countries

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