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This study examines the short-run and long-run relationships between remittances and economic growth in Zimbabwe from 1980 to 2022, using the autoregressive distributed lag (ARDL) bounds testing approach. To ensure the reliability, validity, and stability of the data, the study used the Jacque-Bera normality test, Breusch Godfrey serial LM test, and Bruesch-Pagan-Godfrey heteroskedasticity test together with a cumulative sum of recursive residuals and cumulative sum of recursive squares. The dependent variable in this study is domestic credit to the private sector as a percentage of GDP, and the independent personal remittances as a percentage of GDP, with the control variables per capita GDP growth, inflation, and gross fixed capital formation. The theoretical framework explores key perspectives, including the remittance-development optimist view, which posits that remittances can drive investment and economic progress; the supply-leading hypothesis, suggesting financial development as a precursor to economic growth; and the growth-led hypothesis, which sees economic development as a catalyst for financial development. The results from the ARDL test show no evidence of co-integration in the long run; however, in the short run, a significant positive effect on financial development is observed. This finding supported the complementarity theory and showed how remittances stimulate demand for financial services. Particularly problematic was the negative and statistically significant effect of inflation on financial development, which can potentially harm the performance of financial markets and slow down financial activities. The study suggests implementing targeted policies to limit parallel market activities and direct resources towards the formal sector.

This paper examines the socio-economic dimensions of population migration, emphasising its role as a vital social process within the broader societal framework. Employing a structural-functional approach, the study highlights how migration is shaped by and contributes to societal structures, norms, and cultural dynamics. Migration is influenced by socio-structural and cultural factors, reflecting the interconnectedness of institutions and societal conditions. For instance, urban industrial societies, characterised by institutional and structural compatibility, encourage rapid spatial mobility and long-distance migration. Conversely, traditional rural agrarian societies favour limited mobility and slower migration rates. Drawing on Durkheim’s theory of social evolution, the paper underscores migration’s transformative impact on society. It facilitates the transition from segmented, mechanically organised societies to complex, interdependent ones with advanced divisions of labour. This evolution signifies migration’s role as a driver of societal progress and adaptation. Secondary data analysis reveals that socio-cultural considerations, including family circumstances, are as influential as economic factors in migration decisions. The paper argues for government initiatives that promote social cohesion and regional integration to enable equitable migration opportunities. Such policies are essential for harnessing migration’s potential as a tool for societal advancement. By addressing the interplay of social, cultural, and economic factors, the study provides a nuanced understanding of migration as a dynamic and socially conditioned phenomenon. This research contributes to the discourse on population mobility by linking structural-functional theory with contemporary migration dynamics and policy implications.