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Do Workers' Remittances Promote Financial Development ?
Open accessAbstract
Workers ’ remittances to developing countries have become the second largest type of flows after foreign direct investment. This paper uses data on workers ’ remittance flows to 99 developing countries during 1975-2003 to study the impact of remittances on financial sector development. In particular, we examine whether remittances contribute to increasing the aggregate level of deposits and credit intermediated by the local banking sector. This is an important question considering the extensive literature that has documented the growth-enhancing and povertyreducing effects of financial development. Our findings provide strong support for the notion that remittances promote financial development in developing countries.
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Another look at the instrumental variable estimation of error-components models
Arellano, M., & Bover, O. (1995) · Journal of Econometrics · doi:10.1016/0304-4076(94)01642-d · Cited by 19,880
Legal Determinants of External Finance
LA PORTA, R., LOPEZ‐DE‐SILANES, F., SHLEIFER, A., & VISHNY, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb02727.x · Cited by 9,783
Cited by
Effect of Remittances on Poverty and Financial Development in Sub-Saharan Africa
Gupta, S., Pattillo, C. A., & Wagh, S. (2009) · World Development · doi:10.1016/j.worlddev.2008.05.007 · Cited by 816
What is the Impact of International Remittances on Poverty and Inequality in Latin America?
Acosta, P., Calderón, C., Fajnzylber, P., & Lopez, H. (2008) · World Development · doi:10.1016/j.worlddev.2007.02.016 · Cited by 599
Quisumbing, A. R., & Pandolfelli, L. (2010) · World Development · doi:10.1016/j.worlddev.2009.10.006 · Cited by 542
Metadata
- Authors
- Aggarwal, R., Demirgüç-Kunt, A., & Martinez Peria, M. S.
- Venue
- World Bank, Washington, DC eBooks
- Publisher
- World Bank, Washington, DC
- Published
- 2006-07
- OpenAlex
- W1683984027
- Cited by
- 326
- References
- 2
- Type
- report
- Language
- en
- Open access
- green
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