top of page

NORDSCI Conference proceedings 2019, Book 2



Prof. Ing. Magdaléna Přívarová, CSc.


Global remittances flow has been rising considerably over the last decade. Their share oф GDP reaches several tens of percent of GDP in some (especially developing) countries. Remittances, in terms of size, are not only one of the main capital inflows in developing countries, often even more substantial than ODA, but they also appear to have a robust positive effect on economic growth. This paper presents an overview of the nexus between remittances and financial inclusion. An estimated two billion or 38 percent of working-age adults globally have no access to financial services. Among the financially excluded are migrant workers and their families in their home countries. Without access to financial services, savings cannot accrue interest in deposit accounts, they cannot be lent out to be reinvested in the local economy. The economic potential of the funds is therefore largely untapped due to the inadequate engagement of the financial sector to the specific needs of migrants and their families. Because of the centrality of remittances to development, it is vital to develop the right array of policies and interventions targeting demand, supply and the market environment.


Remittances, financial inclusion, financial services


NORDSCI Conference Proceedings 2019, Book 2, Conference Proceedings, ISSN 2603-4107, ISBN 978-619-7495-06-5, TO SOME CONNECTIONS BETWEEN REMITTANCES AND FINANCIAL INCLUSION, 223-229 pp, DOI paper 10.32008/nordsci2019/b2/v2/29

bottom of page