Africa’s Money in Africa: Human and Physical Capital Dimensions

  • Stephen Evans Osabuohien
  • Rapuluchukwu Uchenna Efobi


Some studies contest that remittance induces ‘careless spending’; others posit that it can promote economic development particularly through human and physical capital. This study observes that not much empirical work that examines the impact of remittance on human and physical capital in Africa has been carried out. The main objective of the study was achieved by using a sample of African countries. It was found that remittance impacts both human and physical capital positively and significantly, principally when it is complimented with sound institutions. In effect, institutions help to improve the linkage between remittance human and physical capital.


Human Capital Gross Domestic Product Financial Institution Political Institution Physical Capital 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.



Conference grants from Royal Economic Society, UK, and Covenant University, Nigeria, are appreciated. The authors also express gratitude to the organisers of the International Conference on ‘Diaspora and Development: Prospects and Implications for Nation-States’ for covering in-country expenses as well as valuable comments from participants. The helpful assistance from Beecroft Ibukun of Covenant University in the revision process is appreciated. Comments from anonymous reviewers are acknowledged.


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Copyright information

© Springer India 2014

Authors and Affiliations

  • Stephen Evans Osabuohien
    • 1
  • Rapuluchukwu Uchenna Efobi
    • 2
  1. 1.Department of Economics & Development StudiesCovenant UniversityLagosNigeria
  2. 2.School of BusinessCovenant UniversityLagosNigeria

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