Remittances and Financial Sector Development in Nigeria: An Empirical Dynamic Analysis

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In the short run, remittances negatively influence financial development, particularly on financial depth.
Over the long term, remittances significantly enhance financial access, with marginal improvements in financial depth.
GDP growth consistently promotes financial development in both short and long runs, impacting access and depth.
Exchange rate depreciation supports financial development short-term, but shows negative effects over time.

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Empirical analysis shows remittances impact financial depth and access in Nigeria, highlighting key economic factors.

Christopher Ikechuckwu Ifeacho (2025) studied this question.

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