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Remittances and financial development in Bangladesh: substitutes or complements?

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  • Selçuk AKÇAY

Abstract

Using the ARDL model and recently developed financial development index, we test whether there is a non-linear relationship between financial development and remittances over the period 1980–2015 in Bangladesh. The results suggest that there is a non-linear U-shaped relationship between financial development and remittances, supporting the complementarity hypothesis both in the long and short run. The evidence provided is robust to alternative variables that potentially influence financial development. Given the complementarity relationship between the two variables, policymakers in Bangladesh should pursue policies and reforms aimed at promoting the inflow of remittances to Bangladesh.

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  • Selçuk AKÇAY, 2020. "Remittances and financial development in Bangladesh: substitutes or complements?," Applied Economics Letters, Taylor & Francis Journals, vol. 27(14), pages 1206-1214, July.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:14:p:1206-1214
    DOI: 10.1080/13504851.2019.1676376
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    Cited by:

    1. Anupam Das & Adian McFarlane & Luc Carels, 2021. "Empirical exploration of remittances and renewable energy consumption in Bangladesh," Asia-Pacific Journal of Regional Science, Springer, vol. 5(1), pages 65-89, February.
    2. Adeabah, David & Asongu, Simplice & Andoh, Charles, 2021. "Remittances, ICT and pension income coverage: The international evidence," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    3. Selçuk Akçay & Emre Karabulutoğlu, 2021. "Do remittances moderate financial development–informality nexus in North Africa?," African Development Review, African Development Bank, vol. 33(1), pages 166-179, March.

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