Effects of Remittances on Financial Development: A Time Series Analysis for Pakistan

Muhammad Awais, Nazima Ellahi and Ahmed Sher
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Muhammad Awais: Assistant Professor, Department of Economics & Finance,Foundation University Islamabad, Pakistan.
Ahmed Sher: PhD Scholar,Department of Business Administration, Iqra University Islamabad, Pakistan.

Global Regional Review, 2019, vol. 4, issue 4, 381-387

Abstract: International migrant remittances are possibly the largest source of external finance in developing countries and this inflow have has considerable importance in the development of the financial sector. The present study aimed to analyze the link between workers remittances and development of the financial sector in the context of Pakistan. To carry out this empirical analysis, the study utilized a data set of annual frequency ranging from 1980 to 2015 (post-liberalization period). The econometric methodology of Auto-Regressive Distributed Lag (ARDL) has been used to get the short-run and long-run elasticities of the model. Overall findings suggested that there is a strong positive link between the inflow of remittances and the development of the financial sector in the context of Pakistan.

Keywords: Remittances; External Finances; Econometric Methods; ARDL (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aaw:grrjrn:v:4:y:2019:i:4:p:381-387

DOI: 10.31703/grr.2019(IV-IV).41

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