[01] Prao Yao Séraphin, Department of Economics, University of Alassane Ouattara, Bouaké, Ivory Coast.

This study empirically analyses the effect of migrant remittances and civil liberties on the financial development of West African Economic and Monetary Union (WAEMU) countries. Using data from the World Bank on seven member countries in the region between 1992 and 2016, the study shows from PMG estimator that in the long term, real GDP per capita, migrant remittances, the rate of economic openness and civil liberties have a positive influence on the financial development of countries in the WAEMU region. The study urges governments to create the necessary conditions to reduce the transaction costs of remittances. This reduction in the transaction cost of remittances would contribute to increasing the volume of official remittances, and ultimately to the level of financial development of the WAEMU region.

Remittances, Financial Development, Bank, Institutions, WAEMU

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