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This study examines the potential of remittances for promoting economic growth and reducing poverty in Asian countries … that a 10% increase in remittances decreases the poverty gap by about 0.7–1.4%. The paper also explores the robustness of … using data for more than 20 countries in the region for 1988–2007. The results indicate that remittances positively affect …
Persistent link: https://www.econbiz.de/10010507279
high growth, development, and poverty reduction. The paper concludes that the financial development policy agenda in …
Persistent link: https://www.econbiz.de/10010507338
Remittances to Asia plunged during the 1997 Asian financial crisis, but the drop was temporary as the flows were … send remittances have been adversely affected. The global nature of this crisis raises several questions such as whether it … examines remittances data to several Asian countries to shed light on such issues. The results suggest that while remittance …
Persistent link: https://www.econbiz.de/10010507285
Remittances are an important source of external financing in Pakistan, amounting to around 10% of gross domestic … implications. Combining a database of bilateral remittances between Pakistan and its main remittance-sending countries with monthly … product in 2021. As such, an appropriate understanding of the key macroeconomic drivers of remittances has important policy …
Persistent link: https://www.econbiz.de/10015051836
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...
Persistent link: https://www.econbiz.de/10011432865
households out of poverty. Remittances thus may help in fighting poverty in the Philippines but not in rebalancing growth …As one of the world's largest recipients of remittances, the Philippines received remittances roughly 12% of its gross … domestic product in 2008. Remittances have become the single most important source of foreign exchange to the economy and a …
Persistent link: https://www.econbiz.de/10010507283
Recent key challenges highlight the need to revisit Asia's financial development. These include the region's growth slowdown since the global crisis, compounded by a less benign external environment; internal structural challenges, such as population aging; and the maturing of much of the region...
Persistent link: https://www.econbiz.de/10011432854
A sound and efficient financial system is an indispensable ingredient of economic growth. It consists primarily of banks and capital markets, which channel savings into investments and other productive activities that contribute to economic growth and augment the economy's productive capacity....
Persistent link: https://www.econbiz.de/10011432869
We examine the determinants of financial development in Asia and the Pacific from 1995 to 2011. To do so, we apply the dynamic generalized method of moments to a panel data set of 26 economies in the region. We find that better governance and institutional quality foster financial development in...
Persistent link: https://www.econbiz.de/10011432876
, followed by the PRC, Bangladesh, Indonesia, and Pakistan. While a significant number moved out of extreme poverty, the number …Poverty reduction in the Asia and the Pacific region in 2005–2008 had been quite significant. Despite the global crisis …, an estimated 150 million people exited extreme poverty by 2008 - from 903.4 million in 2005 to 753.5 million, bringing …
Persistent link: https://www.econbiz.de/10010507312