Remittances, Regulation, and Financial Development in Sub-Saharan Africa

  • James Busumtwi-SamEmail author
Part of the International Political Economy Series book series (IPES)


This chapter critically examines the financial regulations needed to leverage remittances into positive sustainable development outcomes in sub-Saharan Africa. Although remittances have been the fastest growing, most stable, resilient, and reliable source of private capital flows to the region since the 2008 financial crisis, regulations have not kept pace with their increased importance. Noting the context-dependent nature of the remittance-development relationship, the chapter focuses on financial development as a key context. Leveraging remittances into positive development outcomes requires a financial regulatory system that enhances complementarities along the remittance transfer chain. Regulations are needed to expand market access and competition, reduce financial exclusion, facilitate technological innovations in financial services, reduce high transaction costs and informal transfers, enhance accuracy in remittance reporting, and curb illicit financial flows.


Remittances Financial regulation Financial development Sub-Saharan Africa Diaspora Migration Sustainable development Technology Private capital flows 



Ted Cohn, Norbert Gaillard, and Anil Hira


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Department of Political ScienceSimon Fraser UniversityBurnabyCanada

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