Financial decision making and commodities: the nexus between remittances inflow, financial development and economic growth

Key Points

• Economic growth significantly relates to remittances and financial development, impacting decision making.
• A 10% increase in remittance inflows correlates with a 3% growth in the economy over ten years.
• Assessment using economic models highlights the role of financial development in fostering growth.
• Findings support the need for policies to enhance remittance flows; broader implications for economic strategies.