Impact of Workers ’ Remittances on Financial Development in Nigeria

  title={Impact of Workers ’ Remittances on Financial Development in Nigeria},
  author={Babatunde Olufemi Oke},
In this study we examine the nexus between remittances and financial development (FINDEV) in Nigeria from 1977 to 2009. Towards achieving the objective of this study, we employ both the ordinary least square estimation (OLSE) technique and the Generalized Method of Moments (GMM) estimator. Moreover, key diagnostic tests are carried out in order to ascertain model adequacy. We also use two indicators of FINDEV, namely: the ratio of money supply to GDP (m2/gdp) and the ratio of private credit to… CONTINUE READING


Publications referenced by this paper.
Showing 1-10 of 14 references

Migration and Remittances Factbook, The International Bank for Reconstruction and Development

  • World Bank
  • 2011
Highly Influential
4 Excerpts

Remittances and Microenterprises in Mexico, IR/PS Working Paper,

  • C. Woodruff, R. Zenteno
  • 2004
Highly Influential
5 Excerpts

Finance, Inequality and the Poor’, Journal of Economic Growth, Vol

  • T. Beck, A. Demirgüç-Kunt, R. Levine
  • 12, Number 1, pp.27-49,…
  • 2007

Financial Development in Emerging Europe: The Unfinished Agenda

  • Edition, Edda
  • IMF Working Papers,
  • 2007

Do workers' Remittances Promote Financial Development? World Bank Policy Research Working Paper Series, WBPR WP No 3957, The World Bank,

  • Aggarwal, Reena, Demirguc-Kunt, Asli, Peria, Maria Soledad Martinez
  • 2006

Can Remittances Enhance Economic Growth? The Role of Financial Markets Development

  • Mundaca, B. Gabriela
  • 2005