The impact of remittances on the economy of Ghana: critical analysis
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Date
2008-09-13
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Abstract
The research describes the benefits Ghana has derived from remittances received over the past 10 years. It explores the motive behind remittances. The research describes the nature, size, from and uses of remittances. Semi-structured interviews were conducted with recipients of remittances, and secondary data was collected from the Bank of Ghana. In general remittances have reduced poverty in Ghana and have improved the lives of Ghanaians through its multiplier effect. On the macroeconomic level, it has been more stable than Official Development Assistance (ODA) and Foreign Direct Investment (FDI) thus in the absence of ODA and FDI, Ghana can have access to foreign exchange.
The government should, however, fashion out policies to curb remittances sent through illegal channels like family and friends.
Description
A thesis submitted to KNUST School of Business in partial fulfillment of the requirement for the award of MBA, 2008