Abstract (eng)
Remittances are an important source of foreign income for the economy and for households receiving the remittances. During the financial crisis in 2008/2009, the flow of remittances dropped slightly. The global effect of the crisis raised questions whether it will also impact the flow of remittances in developing countries. This study examined the impact of the financial crisis in the OECD countries on the remittance flows to Ghana from a period of 1980 to 2012, using the econometric ARDL model for analyses. The results suggest that remittances slowed down between 2008/2009 but did not drop significantly. Thus, the crisis did not have an impact on the flow of remittance in Ghana, from the empirical tests. However, the crisis affected the country’s growth rates, trade sector, and employment sector, leaving it in a state of shock. The thesis further suggests that the remittance inflow to Ghana during the crisis acted as a shock absorber for households.