Do remittances foster financial inclusion in Mexico?

With data from the National Financial Inclusion Survey (ENIF 2012), we estimate Probit models controlling by different variables. After estimating marginal effects at the means (MEMS), we found that households receiving remittances are more likely to have bank accounts (+10.2% to +11.3%) and to use bank branches (+11.0% to +18.8%), but are less likely to have insurance (-7.6% to -12.1%) and to use ATMs (-8.1% to -8.6%). We did not find any effects on having: i) a payroll account or other investments, ii) investment funds, iii) a loan or credit, iv) credit card, or v) mortgage loans. Thus, there are big opportunities to foster financial inclusion on remittance recipients

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