International Remittances and Financial Inclusion in Sub-Saharan Africa

International Remittances and Financial Inclusion in Sub-Saharan Africa

This paper uses World Bank survey data, including about 10,000 households in five countries -- Burkina Faso, Kenya, Nigeria, Senegal, and Uganda -- to investigate the link between international remittances and households' financial inclusion i...

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Bibliographic Details
Main Authors:	Aga, Gemechu Ayana, Martinez Peria, Maria Soledad
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank Group, Washington, DC 2014
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO SAVINGS AMOUNT OF REMITTANCES BANK ACCOUNT BANK ACCOUNTS BANK POLICY BANKING SECTOR BANKS BUSINESS OWNERSHIP CAPITA INCOME DEMAND FOR SAVINGS DEPOSIT DEPOSIT ACCOUNTS DEPOSITS DESTINATION COUNTRY DEVELOPING COUNTRIES DEVELOPMENT ASSISTANCE DEVELOPMENT GOALS DEVELOPMENT POLICY DUMMY VARIABLE ECONOMIC CONDITIONS EMPLOYMENT EMPLOYMENT STATUS EMPOWERMENT ENTREPRENEURSHIP EXCHANGE RATE EXPENDITURE EXPENDITURES FINANCIAL ACCESS FINANCIAL DEVELOPMENT FINANCIAL EXCLUSION FINANCIAL INSTITUTIONS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FIXED COSTS FOREIGN DIRECT INVESTMENT FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SERVICES GLOBAL DEVELOPMENT HIGH SCHOOL DIPLOMA HOME COUNTRY HOUSEHOLD INCOME HOUSEHOLD INVESTMENT HOUSEHOLD LEVEL HOUSEHOLD SURVEYS HOUSEHOLD WEALTH HOUSEHOLDS HUMAN CAPITAL IMPACT OF REMITTANCES IMPACT ON HEALTH IMPORTANCE OF REMITTANCES INFORMAL CHANNELS INSTRUMENT INSURANCE INSURANCE PRODUCTS INTERNATIONAL BANK INTERNATIONAL MIGRANT INTERNATIONAL MIGRANTS INTERNATIONAL MIGRATION INTERNATIONAL MIGRATION REVIEW INTERNATIONAL REMITTANCE INTERNATIONAL REMITTANCES JOB CREATION LABOR SUPPLY LACK OF AWARENESS LEVEL OF EDUCATION LIVING CONDITIONS MICROFINANCE MIGRANT MIGRANTS MIGRATION OFFICIAL DEVELOPMENT ASSISTANCE POLICY DISCUSSIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER PRODUCTIVE INVESTMENT PROGRESS RECEIPT REMITTANCE REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCES SAVINGS INSTRUMENTS SAVINGS PRODUCT SCHOOL AGE SEND REMITTANCES TEMPORARY MIGRATION UNIVERSAL ACCESS URBAN AREA URBAN AREAS VALUE OF REMITTANCES
Online Access:	http://documents.worldbank.org/curated/en/2014/07/19900591/international-remittances-financial-inclusion-sub-saharan-africa http://hdl.handle.net/10986/19383

Description
Summary:	This paper uses World Bank survey data, including about 10,000 households in five countries -- Burkina Faso, Kenya, Nigeria, Senegal, and Uganda -- to investigate the link between international remittances and households' financial inclusion in Sub-Saharan Africa. The paper finds that receiving international remittances increases the probability that the household opens a bank account in all the five countries. This result is robust to controlling for the potential endogeneity of remittances, using as instruments indicators of the migrants' economic conditions in the destination countries.

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