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Impact of remittances on financial development in Vietnam

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Issue Date
2015
Author
Pham Thi Hoanh Oanh
Host Item
Journal of Economic Development
ISSN
1859 -1124
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Issue Date
2015
Author
Pham Thi Hoanh Oanh
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Abstract

This study focuses on the impact of remittances on Vietnam’s financial development. The results drawn from its quantitative approach demonstrate that although remittance flows to the country may lead to increase in bank deposits, such increase is not high. On the other hand, reduction in credit demands may be subject to remittance flows, per the financial development based on a few credit growth indicators. In other words, effects of remittance flows, as indicated by VAR model, are not noticeable despite their positive impact, as in examples of increased deposits and remittance payment services on their current growth. Based on these findings, the study suggests several implications that improve the positivity of impact on the financial development.

Keywords
Remittances, Financial development, VAR, Vietnam
URI
http://digital.lib.ueh.edu.vn/handle/UEH/55228
http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=af474211-e7f4-4551-a5ce-2c0e1bf9bae1
Publisher
Trường Đại học Kinh tế Tp. Hồ Chí Minh
DOI
http://doi.org/10.24311/jed/2015.22.3.02
Reference
Aggarwal, R.,Demirguc-Kunt, A., & Peria, M. (2011). Do remittances promote financial development? Journal of Development Economics, 96(2), 255–264.

Anwar, S.,& Nguyen, P. L. (2009). Financial development and economic growth inVietnam. Journal of Economics and Finance, 35(3).doi:10.1007/s12197-009-9106-2

GeneralStatistics Office of Vietnam. (2013). StatisticalHandbook of Vietnam. Hanoi, Vietnam: Statistical Publishing House.

Giuliano, P.,& Ruiz-Arranz, M. (2009). Remittances,financial development, and growth. Journalof Development Economics, 90,144–152.

Gupta, S.,Pattillo, A., & Wagh, S. (2009). Effect of remittances on poverty andfinancial development in Sub-Saharan Africa. World Development, 37,104–115.

Mundaca, B. G.(2009). Remittances, financial market development, and economic growth: Thecase of Latin America and the Caribbean. Reviewof Development Economics, 13(2),288–303.

Ojapinwa, T.V., & Bashorun, O. T. (2014). Do workers’ remittances promote financialdevelopment in Sub-Sahara Africa countries? InternationalJournal of Financial Research, 5(2).Retrieved fromhttp://www.sciedu.ca/journal/index.php/ijfr/article/view/4574/2640

Orozco, M.,& Fedewa, R. (2005). Leveragingefforts on remittances and financial intermediation. Report Commissioned bythe Inter-American Development Bank. Washington, DC: Inter-American DevelopmentBank.

Pfau, W. D.,& Giang Thanh Long (2006). The growing role of international remittances inthe Vietnamese economy: Evidence from the Vietnam (household) living standardsurveys. In Pookong Kee & Hidetaka Yoshimatsu (eds.), Globalmovements in the Asia Pacific (pp.225–248). Singapore: World Scientific Publishing.

Pincus, J. R.(2011). Lecture 21: Financial liberationand growth (PDF, in Vietnamese). FulbrightEconomics Teaching Program. Retrieved from http://www.fetp.edu.vn/attachment.aspx?ID=1524

Sami, J.(2013). Remittances, banking sector development and economic growth in Fiji. International Journal of Economics andFinancial Issues, 3(2), 503–511.

Sims, C. A.(1980). Macroeconomics and reality. Econometrica,48, 1–48.

TheInternational Monetary Fund. (2013). BOPand IIP data by economy. Retrieved fromhttp://elibrary-data.imf.org/DataExplorer.aspx

The World BankGroup. (2013). Global financialdevelopment report 2013: Rethinking the role of the State in Finance.Retrieved fromhttp://siteresources.worldbank.org/EXTGLOBALFINREPORT/Resources/8816096-1346865433023/8827078-1346865457422/GDF_2013_Report.pdf

Aggarwal, R.,Demirguc-Kunt, A., & Peria, M. (2011). Do remittances promote financial development? Journal of Development Economics, 96(2), 255–264.

Anwar, S.,& Nguyen, P. L. (2009). Financial development and economic growth inVietnam. Journal of Economics and Finance, 35(3).doi:10.1007/s12197-009-9106-2

GeneralStatistics Office of Vietnam. (2013). StatisticalHandbook of Vietnam. Hanoi, Vietnam: Statistical Publishing House.

Giuliano, P.,& Ruiz-Arranz, M. (2009). Remittances,financial development, and growth. Journalof Development Economics, 90,144–152.

Gupta, S.,Pattillo, A., & Wagh, S. (2009). Effect of r...
See More
Appears in Collections:JABES in English

There are no files associated with this item.



Impact of remittances on financial development in Vietnam

TweetLikeShare# Shares: 0

Metadata Views

15

Content Views

0

Issue Date
2015
Author
Pham Thi Hoanh Oanh
Host Item
Journal of Economic Development
ISSN
1859 -1124
Metadata

Show full item record


Issue Date
2015
Author
Pham Thi Hoanh Oanh
Metadata

Show full item record

Metadata Views

15

Content Views

0

Abstract

This study focuses on the impact of remittances on Vietnam’s financial development. The results drawn from its quantitative approach demonstrate that although remittance flows to the country may lead to increase in bank deposits, such increase is not high. On the other hand, reduction in credit demands may be subject to remittance flows, per the financial development based on a few credit growth indicators. In other words, effects of remittance flows, as indicated by VAR model, are not noticeable despite their positive impact, as in examples of increased deposits and remittance payment services on their current growth. Based on these findings, the study suggests several implications that improve the positivity of impact on the financial development.

Keywords
Remittances, Financial development, VAR, Vietnam
URI
http://digital.lib.ueh.edu.vn/handle/UEH/55228
http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=af474211-e7f4-4551-a5ce-2c0e1bf9bae1
Publisher
Trường Đại học Kinh tế Tp. Hồ Chí Minh
DOI
http://doi.org/10.24311/jed/2015.22.3.02
Reference
Aggarwal, R.,Demirguc-Kunt, A., & Peria, M. (2011). Do remittances promote financial development? Journal of Development Economics, 96(2), 255–264.

Anwar, S.,& Nguyen, P. L. (2009). Financial development and economic growth inVietnam. Journal of Economics and Finance, 35(3).doi:10.1007/s12197-009-9106-2

GeneralStatistics Office of Vietnam. (2013). StatisticalHandbook of Vietnam. Hanoi, Vietnam: Statistical Publishing House.

Giuliano, P.,& Ruiz-Arranz, M. (2009). Remittances,financial development, and growth. Journalof Development Economics, 90,144–152.

Gupta, S.,Pattillo, A., & Wagh, S. (2009). Effect of remittances on poverty andfinancial development in Sub-Saharan Africa. World Development, 37,104–115.

Mundaca, B. G.(2009). Remittances, financial market development, and economic growth: Thecase of Latin America and the Caribbean. Reviewof Development Economics, 13(2),288–303.

Ojapinwa, T.V., & Bashorun, O. T. (2014). Do workers’ remittances promote financialdevelopment in Sub-Sahara Africa countries? InternationalJournal of Financial Research, 5(2).Retrieved fromhttp://www.sciedu.ca/journal/index.php/ijfr/article/view/4574/2640

Orozco, M.,& Fedewa, R. (2005). Leveragingefforts on remittances and financial intermediation. Report Commissioned bythe Inter-American Development Bank. Washington, DC: Inter-American DevelopmentBank.

Pfau, W. D.,& Giang Thanh Long (2006). The growing role of international remittances inthe Vietnamese economy: Evidence from the Vietnam (household) living standardsurveys. In Pookong Kee & Hidetaka Yoshimatsu (eds.), Globalmovements in the Asia Pacific (pp.225–248). Singapore: World Scientific Publishing.

Pincus, J. R.(2011). Lecture 21: Financial liberationand growth (PDF, in Vietnamese). FulbrightEconomics Teaching Program. Retrieved from http://www.fetp.edu.vn/attachment.aspx?ID=1524

Sami, J.(2013). Remittances, banking sector development and economic growth in Fiji. International Journal of Economics andFinancial Issues, 3(2), 503–511.

Sims, C. A.(1980). Macroeconomics and reality. Econometrica,48, 1–48.

TheInternational Monetary Fund. (2013). BOPand IIP data by economy. Retrieved fromhttp://elibrary-data.imf.org/DataExplorer.aspx

The World BankGroup. (2013). Global financialdevelopment report 2013: Rethinking the role of the State in Finance.Retrieved fromhttp://siteresources.worldbank.org/EXTGLOBALFINREPORT/Resources/8816096-1346865433023/8827078-1346865457422/GDF_2013_Report.pdf

Aggarwal, R.,Demirguc-Kunt, A., & Peria, M. (2011). Do remittances promote financial development? Journal of Development Economics, 96(2), 255–264.

Anwar, S.,& Nguyen, P. L. (2009). Financial development and economic growth inVietnam. Journal of Economics and Finance, 35(3).doi:10.1007/s12197-009-9106-2

GeneralStatistics Office of Vietnam. (2013). StatisticalHandbook of Vietnam. Hanoi, Vietnam: Statistical Publishing House.

Giuliano, P.,& Ruiz-Arranz, M. (2009). Remittances,financial development, and growth. Journalof Development Economics, 90,144–152.

Gupta, S.,Pattillo, A., & Wagh, S. (2009). Effect of r...
See More
Appears in Collections:JABES in English

There are no files associated with this item.



Citation

APA    Oanh, P. T. H. (2015). Impact of remittances on financial development in Vietnam. (Journal Article). http://digital.lib.ueh.edu.vn/handle/UEH/55228
   
MLA    Pham Thi Hoanh Oanh. Impact of remittances on financial development in Vietnam. 2015. Trường Đại học Kinh tế Tp. Hồ Chí Minh. Journal Article. http://digital.lib.ueh.edu.vn/handle/UEH/55228
   
Chicago    Pham Thi Hoanh Oanh. "Impact of remittances on financial development in Vietnam. "(Journal Article, Trường Đại học Kinh tế Tp. Hồ Chí Minh, 2015)
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