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Remittances and banking sector breadth and depth : evidence from Mexico

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Author Info
Demirguc-Kunt, Asli
Lopez Cordova, Ernesto
Martinez Peria, Maria Soledad
Woodruff, Christopher

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Abstract

Despite the rising volume of remittances flowing to developing countries, their impact on banking sector breadth and depth in recipient countries has been largely unexplored. The authors examine this topic using municipio-level data on the fraction of households that receive remittances and on measures of banking breadth and depth for Mexico. They find that remittances are strongly associated with greater banking breadth and depth, increasing the number of branches and accounts per capita and the ratio of deposits to gross domestic product. These effects are significant both statistically and economically, even after conducting robustness tests and addressing the potential endogeneity of remittances.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4983.

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Date of creation: 01 Jun 2009
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Handle: RePEc:wbk:wbrwps:4983

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Keywords: Access to Finance; Banks&Banking Reform; Population Policies; Debt Markets;

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  1. Hildebrandt, Nicole & McKenzie, David, 2005. "The effects of migration on child health in Mexico," Policy Research Working Paper Series 3573, The World Bank. [Downloadable!]
  2. Robin Burgess & Rohini Pande, 2005. "Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment," American Economic Review, American Economic Association, vol. 95(3), pages 780-795, June. [Downloadable!]
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  3. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank. [Downloadable!]
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  4. Paola Giuliano & Marta Ruiz-Arranz, 2006. "Remittances, Financial Development, and Growth," IZA Discussion Papers 2160, Institute for the Study of Labor (IZA). [Downloadable!]
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  5. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300. [Downloadable!] (restricted)
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  6. Kaivan Munshi, 2003. "Networks In The Modern Economy: Mexican Migrants In The U.S. Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 549-599, May. [Downloadable!] (restricted)
  7. Levine, Ross & Loayza, Norman & Beck, Thorsten, 2000. "Financial intermediation and growth: Causality and causes," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 31-77, August. [Downloadable!] (restricted)
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  8. José Ernesto & Alexandra, 2006. "International remittances and development : existing evidence, policies and recommendations," INTAL Working Papers 1290, Inter-American Development Bank, INTAL. [Downloadable!]
  9. Ernesto López Córdova, 2004. "Globalization, Migration and Development: The Role of Mexican Migrant Remittances," Econometric Society 2004 Latin American Meetings 82, Econometric Society. [Downloadable!]
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This page was last updated on 2009-11-13.

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