Remittance and financial development: a comparison between highly- and less-educated migrants

Md. Abdur Rahman Forhad, Gazi Mahabubul Alam and Vesna Skrbinjek

International Journal of Education Economics and Development, 2025, vol. 16, issue 4, 479-495

Abstract: While many studies explored the impact of remittances on recipient countries' economic development, this study uniquely investigates a comparative analysis between highly-educated and less-educated migrants on financial development. This study uses macro-level data from the World Development Indicators and employs an instrumental variable approach. Findings indicate that remittance generally boosts the financial development of recipient countries, with remittances from low-educated migrants promoting better financial inclusion. To ensure a sustainable positive impact of remittance from both groups of migrants on financial development, easing domestic and international policies related to foreign employment and investment opportunities is important.

Keywords: remittances; highly-educated migrants; low-educated migrants; financial development. (search for similar items in EconPapers)
Date: 2025
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