What is it about?
Recent financial development in developing countries may influence the relationship between remittances and economic growth. Such a relationship could be different for developing countries than the developed ones. This study explores how different levels of financial development influences economic growth in top remittance recipient countries.
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Why is it important?
The study focuses on the top remittance recipient countries and uses the dynamic panel estimation procedure.
Perspectives
I am confident that researchers, specially those who are involved in remittance relevant research would be benefited to see how financial development is yet to play a significant role in remittance-growth nexus. Without improving financial literacy, reducing transaction costs, and initiating significant measures to channel remittances to financial sector, financial development neither works as a substitute nor complements to explain the relationship between remittance and growth.
Dr Murshed Chowdhury
Algoma University
Read the Original
This page is a summary of: Financial Development, Remittances and Economic Growth: Evidence Using a Dynamic Panel Estimation, Margin The Journal of Applied Economic Research, February 2016, SAGE Publications,
DOI: 10.1177/0973801015612666.
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