Migrant Workers Remittances in Fostering Country-of-origin Entrepreneurship and Financial Inclusion: Life Cycle-permanent Income Hypothesis

This study is to analyze the effects of migrant worker remittances on the pattern of families in consumption and investments in short-and long-terms by using Life-Cycle/Permanent-Income Hypothesis (LC-PIH).This was a mixed method by using Mactor and Eviews to analyze time-series-based econometric data.The results showed that training and marital status positively affect saving behavior of migrant workers.Mactor analysis highlighted that financial inclusion is indispensable in the economic development of migrant workers and their families in home countries.Financial management is positively related to family economy and entrepreneurship as a form of long-term investment in home countries.The findings emphasized empowerment agencies in home countries to strengthen financial inclusion and entrepreneurship programs.