Labour emigration, remittances, and economic development: an empirical analysis

There has been a lot of controversy on the effects of labour emigration and remittances on economic growth and development in the sending countries. Some concluded a significant positive impact, while others failed to identify a direct link between labour and remittance inflow, and economic development. This study therefore empirically estimates the effects of international labour emigration and remittances on economic development in Nigeria, using annual time series data for the period 1977-2021. The Ordinary Least Square (OLS) is employed to analyse the model. Findings suggest a significant positive effect on economic development in Nigeria. Therefore, we recommend that the government should be more involved in labour emigration by establishing policies that protect migrants in their host countries thereby ensuring their stability for effective productivity.