The effect of financial development and remittances on economic growth

The purpose of this study is to examine the effect financial development and remittances on economic growth across six Western Balkan countries (WBC) using panel data from 2000 2017. Previous studies have neglected with regard WBC. Based system GMM analysis, we found that (broad money stock ratio) shows positive impact However, interaction provide a significant negative growth. results imply together substitutes In order expand in WBC, policies targeted develop non-deposit institutions narrow interest rate margin policy encourage investment thus high