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Abstract
The majority of the existing literature has explicitly stated the positive effect of remittances on the development of the banking sector in an evolving market. Nevertheless, very little is known when an institution is taking into account the link between remittance flows and banking sector development. In this paper, the study draws data from 34 emerging economies within the SSA and employs a panel EGLS approach. We confirm a negative effect of remittance flows on banking sector development in the region. Besides, we also confirm that institutions affect banking sector development positively in the region. We recommend the need to develop and strengthen institutions to reduce the informal transfer of remittance in the region. Likewise, enhancing institutional infrastructure would boost the development of the banking sector.
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Notes on contributors
Fredrick Ikpesu
Fredrick Ikpesu is a lecturer at Pan-Atlantic University, Lagos, Nigeria. Before entering academics, he worked with a consulting firm where he rose to the group head of finance and administration. His research areas include trade finance, corporate financial distress, and corporate finance.
Abisola Akinola
Abisola Akinola is a professional accountant with excellent analytical skills. She teaches taxation, cost accounting, and auditing as an area of specialization in the department of accounting, School of Management, and Social sciences. Before joining Pan-Atlantic University, Mrs. Akinola had worked as a lecturer and a course level adviser at Redeemer’s University.
Olapeju A. Ikpesu
Olapeju A. Ikpesu currently works with Lagos Business School, Pan-Atlantic University. Her research areas include international finance, developmental finance, and trade finance.