01912cas a2200265 a 4500 AALejournalIMF004762 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451866025 1018-5941 BD-DhAAL BD-DhAAL Gupta, Sanjeev. Impact of Remittances on Poverty and Financial Development in Sub-Saharan Africa / Sanjeev Gupta, Catherine Pattillo, Smita Wagh. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper assesses the impact of the steadily growing remittance flows to sub-Saharan Africa (SSA). Though the region receives only a small portion of the total recorded remittances to developing countries, and the volume of aid flows to SSA swamps remittances, this paper finds that remittances, which are a stable, private transfer, have a direct poverty mitigating effect, and promote financial development. These findings hold even after factoring in the reverse causality between remittances, poverty and financial development. The paper posits that formalizing such flows can serve as an effective access point for "unbanked" individuals and households, and that the effective use of such flows can mitigate the costs of skilled out-migration in SSA. Mode of access: Internet Pattillo, Catherine. Wagh, Smita. IMF Working Papers; Working Paper ; No. 2007/038 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/038/001.2007.issue-038-en.xml IMF e-Library