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- Title
DIASPORA REMITTANCES AND GROWTH OF THE AGRICULTURAL SECTOR IN NIGERIA.
- Authors
MGBOMENE, CHUKUNALU
- Abstract
This research work focused on diaspora remittances and growth of the agricultural sector in Nigeria. Annual time series data on workers remittances, migrant remittances, foreign direct investment and exchange rate were employed in the research. Using econometric techniques (error correction model and the vector auto regression model), the research found that workers remittances, migrant remittances and FDI have increased the output of the agricultural sector in Nigeria. Exchange rate decreased the inflow of official remittances to the agricultural sector. The study concluded that for the period 1990 - 2022, remittances had enhanced the output of the agricultural sector with migrant remittances having the most effect. Thus, the main recommendations was that government should pursue the unified exchange rate policy, intensification and sustenance of the inflow of remittances to the agricultural sector through the provision of a formal channel for Nigerian workers and migrants to send in monies into Nigeria without rigorous hurdles. (C12,F24,Q14).
- Subjects
FOREIGN investments; AGRICULTURAL industries; REMITTANCES; FOREIGN exchange; NIGERIANS
- Publication
Journal of Academic Research in Economics, 2024, Vol 16, Issue 2, p387
- ISSN
2066-0855
- Publication type
Article