Migrant remittances and financial inclusion among households in Nigeria

Ajefu, Joseph and Ogebe, Joseph O. (2019) Migrant remittances and financial inclusion among households in Nigeria. Oxford Development Studies, 47 (3). pp. 319-335. ISSN 1360-0818

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Official URL: https://doi.org/10.1080/13600818.2019.1575349


This article investigates the impact of remittances on financial inclusion, using the 2009 World Bank’s Migration and Remittances Household Survey data for Nigeria. An instrumental variable estimation technique was used to estimate the impact of remittances on financial inclusion, and migrant network effect was used as an instrument to control for potential endogeneity between remittance and financial inclusion. This article finds that the receipt of remittances increases the probability of using formal financial services, such as deposit accounts and Internet/mobile banking. This article concludes that reducing barriers and costs to remittance inflows can improve the access to and use of formal financial services in Nigeria, which can lead to an increase in funds for investments and the economic growth of the country.

Item Type: Article
Uncontrolled Keywords: Migrants, remittances, financial inclusion, households, Nigeria
Subjects: L100 Economics
L700 Human and Social Geography
N100 Business studies
N300 Finance
N400 Accounting
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Elena Carlaw
Date Deposited: 31 Jul 2020 10:05
Last Modified: 31 Jul 2021 12:16
URI: http://nrl.northumbria.ac.uk/id/eprint/43939

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