NDLI: Remittances and financial development: empirical evidence from heterogeneous panel of countries

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Remittances and financial development: empirical evidence from heterogeneous panel of countries

Content Provider	Scilit
Author	Bhattacharya, Mita Inekwe, John Paramati, Sudharshan Reddy
Copyright Year	2018
Description	Remittances are the second largest source of external finance after foreign direct investment in the developing economies. In this study, we analyse the role of incoming remittances on financial development for 57 highest remittance recipient economies. A long run equilibrium relationship is established between remittances and three alternative indicators of financial development. Estimates from the dynamic system-generalized method of moments reflect lower elasticity values for developing countries compared to the developed ones. Our findings are robust across countries, and highlight the necessity for strengthening institutional set-ups to increase the inflow of remittances, which will enhance financial development across countries. The role of foreign direct investment is found to be significant in most cases.
Related Links	https://discovery.dundee.ac.uk/ws/files/20354353/Author_Accepted_Manuscript.pdf
Ending Page	4112
Page Count	14
Starting Page	4099
ISSN	00036846
e-ISSN	14664283
DOI	10.1080/00036846.2018.1441513
Journal	Applied Economics
Issue Number	38
Volume Number	50
Language	English
Publisher	Informa UK Limited
Publisher Date	2018-02-24
Access Restriction	Open
Subject Keyword	Agricultural Economics Development Studies Remittances Financial Development Heterogeneity Cross-sectional Dependence Panel Cointegration
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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