Impact of Foreign Remittances on Financial Development of Pakistan

Abstract

This research investigates the impact of remittances on financial development of Pakistan. Overseas remittances have positive and major relation with GDP of Pakistan at the same time as inflation and exchange rate has unconstructive effect on economic growth. The multiple regression investigation is used to identify the relationship between the dependent and independent variables. In this study, we considered economic growth as the dependent variable. For independent variables worker’s remittances, foreign direct investment, inflation, and exchange rate and agriculture growth.