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Remittances and investment: the role of financial inclusion
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| 1.42 MB | Adobe PDF | |||
| 2.5 MB | Adobe PDF |
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Resumo(s)
This paper sheds light on the role of financial inclusion to leverage investments from
remittances. Employing linear dynamic estimation techniques (system GMM) on a panel of
54 countries over the years 2004-2015, I find evidence for a complementary relationship
between financial development and remittances in promoting investments. Measures of the
sophistication as well as the accessibility of the financial system suggest that higher financial
development across both dimensions encourages investments. Especially an increase in the
number of deposit accounts has significant potential to leverage investments. The results
control for endogeneity and are robust to different specifications as well as a variation of the
sample. The findings encourage policy action towards higher financial inclusion in order to
accelerate the developmental impact of remittances.
Descrição
Palavras-chave
Remittances Financial inclusion Investment Dynamic panel estimation