Remittances flow and financial development in Bangladesh |
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Authors: | Mamta B Chowdhury |
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Institution: | aSchool of Economics and Finance, University of Western Sydney, Locked Bag 1797 Penrith South DC, NSW 1797, Australia |
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Abstract: | Workers' remittance is a major source of foreign exchange earnings and plays an important role in the economy of Bangladesh. It accounts for 12% of GDP in 2010. This paper examines with annual data for 1971–2008, whether the flow of remittances is contributing positively to the development of the financial system of the country. Our results suggest that remittances have a significant positive effect on financial development. However, financial sector's development is neutral in its effect on the inflow of remittances. |
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Keywords: | JEL Classification: F24 F41 F43 |
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