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Impact of Remittances on Financial Development and Economic Growth

Madalina-Gabriela Anghel, Georgiana Nita and Alexandru Badiu
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Madalina-Gabriela Anghel: “Artifex” University of Bucharest
Georgiana Nita: Bucharest University of Economic Studies
Alexandru Badiu: Bucharest University of Economic Studies

Romanian Statistical Review Supplement, 2017, vol. 65, issue 1, 106-112

Abstract: The research subject is remittances and their impact on growth and financial development. The fact that remittances might affect financial development in developing countries is based on the concept that money transferred through financial institutions give access for recipients to other financial products and services, which they might not have otherwise (as outlined by Orozco and Fedewa, 2005). Remittances played a significant role in the economy of Romania, both as financial support for relatives, and also from the viewpoint of expenses for consumption and even investments (dwellings, high-price movable goods) realized from resources related to remittances. The authors analyze the impact of remittances on the Gross Domestic Product.

Keywords: remittances; migrants; financial development; economic growth (search for similar items in EconPapers)
JEL-codes: F24 F43 (search for similar items in EconPapers)
Date: 2017
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