Journal
ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA
Volume 33, Issue 1, Pages 3528-3544Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/1331677X.2020.1774795
Keywords
Remittance; financial inclusion; dynamic panel data method
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Funding
- Ministry of Higher Education Malaysia [FRGS/1/2015/SS08/UPM/02/10]
- Universiti Putra Malaysia [GP/2018/9632300]
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The present article adopted the dynamic panel data method to investigate the effect of the inflow of remittances on financial inclusion (FI), particularly focusing on high remittance-receiving developing countries between 2011 and 2018. The current research found that remittances that foster FI are associated with better institutional quality. The evidence revealed that the effect of remittances on FI is conditional upon individuals' perception of the institutions. Positive coefficient on the interaction terms indicates that the impact of remittances on FI can be enhanced in the recipient countries, if the public trusts the financial institutions. Hence, the overall results of the current research suggest that the impact of remittances on FI is conditional on institutions. On a final note, the policy implications of these findings are thoroughly evaluated at the end of this article.
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