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Deposit Insurance, Remittances, and Dollarization: Survey-Based Evidence from a Top Remittance-Receiving Country

David Grigorian and Maxym Kryshko

No 2017/132, IMF Working Papers from International Monetary Fund

Abstract: The paper uses a unique survey of remittance-receiving individuals from Tajikistan to study the impact of policy awareness on consumer behavior. The results show that knowledge of deposit insurance encourages the use of formal channels for transmitting remittances and reduces dollarization. Given the size and importance of remittances in Tajikistan, improving financial literacy and better publicizing details of the social safety net may encourage a more frequent use of formal channels for transferring remittances and reduce reliance on foreign exchange for transaction purposes. This is likely to improve bank profitability, enhance financial stability, and improve access to finance.

Keywords: WP; remittance; dollarization; deposit; Deposit insurance; remittances; Tajikistan; cash dollarization; DI scheme; remittance market; DI awareness; sound deposit insurance system; remittance sender; transferring remittance; dollarization proceeds; DI protection; remittance recipient; Currencies; Global (search for similar items in EconPapers)
Pages: 22
Date: 2017-06-08
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Citations: View citations in EconPapers (2)

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Journal Article: Deposit insurance, remittances, and dollarization: Survey‐based evidence from a top remittance‐receiving country (2019) Downloads
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Handle: RePEc:imf:imfwpa:2017/132