Assoc. prof. Mădălina-Gabriela ANGHEL PhD
“Artifex” University of Bucharest
Georgiana NIȚĂ, PhD Student,
Bucharest University of Economic Studies
Alexandru BADIU, PhD Student,
Bucharest University of Economic Studies
Abstract
The research subject is remittances and their impact on growth and financial development. The fact that remittances might affect financial development in developing countries is based on the concept that money transferred through financial institutions give access for recipients to other financial products and services, which they might not have otherwise (as outlined by Orozco and Fedewa, 2005). Remittances played a significant role in the economy of Romania, both as financial support for relatives, and also from the viewpoint of expenses for consumption and even investments (dwellings, high-price movable goods) realized from resources related to remittances. The authors analyze the impact of remittances on the Gross Domestic Product.
Key words: remittances, migrants, financial development, economic growth
JEL Classification: F24, F43
