Migrant Remittances Provide Resilience Against Disasters in Africa |
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Authors: | Wim A. Naudé Henri Bezuidenhout |
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Affiliation: | 1. Maastricht School of Management, United Nations University (UNU-MERIT), Maastricht, The Netherlands 2. North-West University, Potchefstroom, South Africa
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Abstract: | How responsive are migrant remittances to various disasters, both natural and human-made? Would remittances be affected by systemic financial crises, such as the 2008–09 financial crisis, or more recent crises affecting the Eurozone? Using panel data on 23 sub-Saharan African (SSA) countries from 1980 to 2007, we find that remittances are slow to respond to natural disasters, unresponsive to outbreaks of conflict, and will slowly decline following a systemic financial crisis. This suggests that, given its stability, remittances are sources of resilience in SSA. |
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