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Full-Text Articles in Social and Behavioral Sciences
Migrant Remittances, Financial Sector Development And The Government Ownership Of Banks, Arusha V. Cooray
Migrant Remittances, Financial Sector Development And The Government Ownership Of Banks, Arusha V. Cooray
Arusha Cooray
This study investigates the influence of migrant remittances on twodimensions of the financial sector, namely, size and efficiency. Evidence suggests thatmigrant remittances contribute to increasing the size and efficiency of the financialsector. The study, in addition, examines the impact of remittances on financial sectorsize and efficiency through the government ownership of banks channel. While theresults suggest that remittances lead to larger increases in financial sector size incountries in which the government ownership of banks is lower and increases inefficiency in countries in which the government ownership of banks is higher, thegovernment is found to play an important role in promoting …
The Financial Sector And Economic Growth, Arusha V. Cooray
The Financial Sector And Economic Growth, Arusha V. Cooray
Arusha Cooray
The Mankiw-Romer-Weil (1992) augmented Solow-Swan (Solow 1956; Swan 1956) model is extended to incorporate the financial sector in this study. Distinguishing between financial capital, physical capital and human capital, the research attempts to identify, in particular, the effects of financial capital on economic growth. The effects of financial sector efficiency on economic growth are also examined. The financial sector augmented model is tested on a cross-section of 35 economies. Strong support is found for the model.