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

Author

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  • Mr. David A. Grigorian
  • Mr. Maxym Kryshko

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.

Suggested Citation

  • Mr. David A. Grigorian & Mr. Maxym Kryshko, 2017. "Deposit Insurance, Remittances, and Dollarization: Survey-Based Evidence from a Top Remittance-Receiving Country," IMF Working Papers 2017/132, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2017/132
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    Cited by:

    1. Rösl, Gerhard & Seitz, Franz, 2023. "Uncertainty, politics, and crises: The case for cash," IMFS Working Paper Series 186, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    2. Harri Ramcharran, 2020. "Analyzing the impact of workers’ remittances on household consumption in Latin American and Caribbean Countries," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 44(1), pages 59-77, January.

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