A recent study by Giuliano and Ruiz-Arranz (2006) has provided evidence of substitutability between remittances and … inefficiency indicator of the domestic banking system and show that migrants' remittances positively affect economic growth only in …

Workers' remittances to developing countries have become the second largest type of flows after foreign direct … remittances on financial sector development. In particular, they examine whether remittances contribute to increasing the … findings provide strong support for the notion that remittances promote financial development in developing countries. …

The paper analyzes the relationship between remittances and financial development using Kenyan quarterly data from 2006 … remittances and financial development in long-run equations. This suggests that higher levels of remittances provide opportunities … models. Therefore, a policy window exists for the government to leverage on remittances as a tool of financial inclusion and …

’ remittances to their countries of origin. In 2004, remittances exceeded official development aid in several emigration countries …

The paper assesses how remittances directly and indirectly affect industrialisation in a panel of 49 African countries … industrialisation. The non-interactive specification elucidates direct effects of remittances on industrialisation whereas interactive … specifications explain indirect impacts. The findings broadly show that for certain initial levels of industrialisation, remittances …