Migrant Remittances and Financial Inclusion in Africa: A Dynamic and Long-Run Approach

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Author(s): Abba Yadou Barnabe (University of Dschang, Cameroon)
Copyright: 2021
Pages: 16
Source title: Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa
Source Author(s)/Editor(s): Evans S. Osabuohien (Covenant University, Nigeria), Emmanuel A. Oduntan (Covenant University, Nigeria), Obindah Gershon (Covenant University, Nigeria), Olaronke Onanuga (Covenant University, Nigeria)and Oluyomi Ola-David (Covenant University, Nigeria)
DOI: 10.4018/978-1-7998-4817-2.ch010

Keywords: Environment & Agriculture / Information Science Reference / Socio-Economic Development / Sustainable Development

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Abstract

The main objective of this chapter is to examine the effect of migrant remittances on financial inclusion in Africa from 2004 to 2017. Thus, the authors constructed a composite index of financial inclusion using principal component analysis (PCA). In addition, they examine the effect of remittances on financial inclusion using a system GMM and a pooled mean group (PMG). It is found that remittances have a negative effect on financial inclusion in the short run and a positive effect in the long run. Moreover, remittances have a negative long-term effect on the use of financial services and a positive long-term effect on access to financial services. This implies improved policies to both attract the flow of remittances through formal channels and improve financial inclusion.

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Migrant Remittances and Financial Inclusion in Africa: A Dynamic and Long-Run Approach

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