Remittances to Five English Speaking West African Countries

According to studies done in West Africa, most people are likely to sell their productive assets, like livestock so that they can deal with problems with food shortages. The analysis conducted in western Africa countries revealed that remittances reduce with poverty. West African people usually focus on issues and things like health and education needs (Amadou, & Fenohasina 2015). In the region, studies have shown that large remittance inflow can cause macroeconomic challenges such as leading to increase in exchange rates.

Remittances to West African Countries

Policy makers, especially in countries that receive large remittance inflows, should be alert to their income on the exchange rate. Data and information from surveys conducted in countries such as Burkina Faso, Ghana, Nigeria, Sierra Leone and Senegal most of the immigrants consist of young adults. The cost of sending remittances to West Africa is usually high among the developed country. The remittances in Africa are characterized by a high degree of informality. It also has a high lack of effective competition (Amadou, & Fenohasina 2015). Most of those countries have high exchange controls on outward transfer as well as the often exclusive partnership of international money transfer companies.

English Speaking West African Countries

Migration remittances such as money migrants usually send from their countries of origin to their host countries. According to analysis the amount of money sent inn west African countries amounted to $ 26 billion out with huge amount of money being sent to countries such as Nigeria. The size of West Africa diaspora population is about 9.1 million. According to the evaluation made the increased amount of remittances have increasingly improved living standards of different people. The migrants in abroad have developed high-level interests in developing strong experience, experience, and education thus enabling them to create new forms of engagement in various countries of origin. The trend of increasing remittances has been contributed emergence of dangerous diseases such as Ebola virus (Jessica & Melissa, 2007). The effects have also increased growth and development of industries at microeconomic level reaching levels of families and villages. Other immigrants are getting involved in international investments through diaspora bond issues. Most of the countries such as Ghana have benefited from such plans where members in diaspora contribute funds for developing their home country projects (Jessica & Melissa, 2007).

Factors affecting Remittances

The factors that affect remittance include income of the migrants, the level of education and aspects of altruism. Gender, as well as household composition, also affects the flow of remittance. Factors affecting remittances sent to 5 English Speaking West African Countries

The above factors are major factors that are also experienced in other countries. Other factors that not common to African countries include migrants family, the rate of interest, the rate of interest, the exchange rate and the rate of inflation (Jessica & Melissa, 2007).

Review of Methodologies

The methodologies applied have been used in improving collection and reporting of remittance data and information. The methodologies applied are used in describing potential advantages and disadvantages. It has been used for ensuring data and information are statistically reliable especially for reliable data and information (Amadou, & Fenohasina 2015).

Review of Theories

The theory increases complete interconnection for broader data and information. The theory links the data and information with empirical of study throughout the research process. The research study uses a theoretical framework which suits the study (Amadou, & Fenohasina 2015).

Reference

Amadou S., & Fenohasina M., (2015). Private Capital Flows, Official Development Assistance, and Remittances to Africa: Who Gets What?

Jessica H., & Melissa S., (2007). The Determinants of Remittances: A Review of the Literature. DOI: 10.2139/ssrn.1095719

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