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Inclusive Competitive Business and Economic Welfare in Africa: The Role of Remittance Inflows

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Abstract

The paper seeks to examine the joint effect of inclusive competitive business and remittance inflows on economic welfare in Africa. It employs a dynamic system GMM for a panel dataset of 54 African economies between 2006 and 2022. The study finds evidence to confirm that both ease of doing business and ease of starting business have a positive long-run effect on economic welfare. The results show a positive impact of remittance inflows on economic welfare growth. We find evidence to support that ease of doing business and ease of starting business individually complements remittance inflows in determining economic welfare. The marginal effect shows that the positive impact of the lagged values of inclusive competitive business on economic welfare is enhanced at higher levels of remittance inflows.

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Availability of Data and Materials

The datasets used and/or analyzed during the current study are available (with the corresponding author) upon reasonable request.

Notes

  1. See Appendix 1 (Table A1).

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Acknowledgements

The authors are grateful to the editors and reviewers of this paper for their useful contributions and insightful comments. The authors are thankful to the faculty members of the University of Ghana Business School, Koforidua Technical University, and Data Link Institute of Business and Technology—for their contributions, inputs, criticism, and comments which have helped to improve the quality of this paper.

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This study received no financial support from any institution or person. The study was carried out because of the collaborative efforts by the authors without any direct or indirect support from any institution.

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Authors and Affiliations

  1. Department of Finance, University of Ghana Business School, P.O. Box LG, 78, Legon-Accra, Ghana

    Daniel Ofori-Sasu

  2. Procurement and Supply Science Department, Koforidua Technical University, P.O. Box KF 981, Koforidua, Ghana

    Smile Dzisi & Franklin Dodzi Odoom

  3. Department of Accounting, Data Link Institute of Business and Technology, P. O. Box CO 2481, Tema, Ghana

    Kojo Agyekum Asiama

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  1. Daniel Ofori-Sasu
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  2. Smile Dzisi
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  4. Franklin Dodzi Odoom
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Contributions

DO-S (lead and corresponding author) conceptualized the idea and wrote the paper as a researcher in finance, economics, and business development issues. SD, KAA, and FDO supervised and provided a comprehensive understanding of the area, provided guidance, direction, and review, and edited this paper.

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Correspondence to Smile Dzisi.

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Ofori-Sasu, D., Dzisi, S., Asiama, K.A. et al. Inclusive Competitive Business and Economic Welfare in Africa: The Role of Remittance Inflows. JGBC 18 (Suppl 1), 28–37 (2023). https://doi.org/10.1007/s42943-023-00087-x

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