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Global Diasporas and Development pp 87–104Cite as

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

Abstract

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.

Keywords

  • 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.

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Acknowledgments

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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Authors and Affiliations

  1. Department of Economics & Development Studies, Covenant University, Ota, Ogun State, Lagos, Nigeria

    Stephen Evans Osabuohien Ph.D.

  2. School of Business, Covenant University, Ota, Ogun State, Lagos, Nigeria

    Rapuluchukwu Uchenna Efobi

Authors
  1. Stephen Evans Osabuohien Ph.D.
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  2. Rapuluchukwu Uchenna Efobi
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Correspondence to Stephen Evans Osabuohien Ph.D. .

Editor information

Editors and Affiliations

  1. Indira Gandhi National Open University, New Delhi, India

    Sadananda Sahoo

  2. Indira Gandhi National Open University, New Delhi, India

    B.K. Pattanaik

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Osabuohien, S.E., Efobi, R.U. (2014). Africa’s Money in Africa: Human and Physical Capital Dimensions. In: Sahoo, S., Pattanaik, B. (eds) Global Diasporas and Development. Springer, New Delhi. https://doi.org/10.1007/978-81-322-1047-4_5

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