International Remittances and Financial Inclusion in Sub-Saharan Africa

34 Pages Posted: 20 Apr 2016

Date Written: July 1, 2014


This paper uses World Bank survey data, including about 10,000 households in five countries -- Burkina Faso, Kenya, Nigeria, Senegal, and Uganda -- to investigate the link between international remittances and households' financial inclusion in Sub-Saharan Africa. The paper finds that receiving international remittances increases the probability that the household opens a bank account in all the five countries. This result is robust to controlling for the potential endogeneity of remittances, using as instruments indicators of the migrants' economic conditions in the destination countries.

Keywords: Financial Structures

Suggested Citation

Aga, Gemechu and Martinez Peria, Maria Soledad, International Remittances and Financial Inclusion in Sub-Saharan Africa (July 1, 2014). World Bank Policy Research Working Paper No. 6991. Available at SSRN:

Gemechu Aga (Contact Author)

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Maria Soledad Martinez Peria

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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