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|Title:||Rainfall, financial development, and remittances: Evidence from Sub-Saharan Africa|
Transitory income shocks
|Source:||Arezki, R., Brückner, M. (2012-07). Rainfall, financial development, and remittances: Evidence from Sub-Saharan Africa. Journal of International Economics 87 (2) : 377-385. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jinteco.2011.12.010|
|Abstract:||We use annual variations in rainfall to examine the effects that exogenous, transitory income shocks have on remittances in a panel of 41 Sub-Saharan African countries during the period 1970-2007. Our main finding is that on average rainfall shocks have an insignificant contemporaneous effect on remittances. However, the marginal effect is significantly decreasing in the share of domestic credit to GDP. So much so, that at high levels of credit to GDP rainfall shocks have a significant negative effect on remittances, while at low levels of credit to GDP the effect of rainfall on remittances is significantly positive. © 2012.|
|Source Title:||Journal of International Economics|
|Appears in Collections:||Staff Publications|
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