Remittance Flows and Health Outcomes in Nigeria: Implication for Economic Growth
Keywords:Remittance flows, Out-of-pocket expenditure, Health outcomes, Life expectancy, Vector autoregressive, Impulse response function.
Remittance flows have usually been channelled to the improvement of health outcomes among its recipients in different countries of the world. Its implication for the overall wellbeing of the people and growth of the economy has been tremendous. This study therefore examined remittance flows and health outcomes in Nigeria and its implication for economic growth. Using time series data set from 1980 to 2019, VAR-granger causality approach, and VAR-impulse response function method, it was found that personal remittances granger causes out-of-pocket health expenditure. The results of the VAR-impulse response function indicated that shocks to life expectancy exert positive significant impact on economic growth. Similarly, shocks to mortality rate have positive significant influence on economic growth. However, shocks to personal remittances exert significant negative impact on the Nigerian economic growth. Policies that support the free flow of remittances should be put in place by the government. Again, households should use their remittance receipts largely on expenditures that promote their health and well-being.