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KDI 경제교육·정보센터

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최신자료
Remittances, Exchange Rates, and the Role of Financial Development
ADB
2025.11.27
This paper examines how financial development can mitigate the exchange rate appreciation effects of remittances, based on a global sample of 146 economies over the period 1996 to 2021.

The findings indicate that appreciation effects are most pronounced in high remittance-receiving economies, consistent with the “Dutch disease” mechanism. Stronger domestic financial markets and market-based financial deepening emerge as key channels for buffering against these effects.