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which remittances affect economic activity. The empirical evidence does not clearly support the purported short …
Persistent link: https://www.econbiz.de/10005604780
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...
Persistent link: https://www.econbiz.de/10008777032
This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in-...
Persistent link: https://www.econbiz.de/10010790306
This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970–2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial...
Persistent link: https://www.econbiz.de/10010790327
This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and...
Persistent link: https://www.econbiz.de/10010790428
swamps remittances, this paper finds that remittances, which are a stable, private transfer, have a direct poverty mitigating … remittances, poverty and financial development. The paper posits that formalizing such flows can serve as an effective access … receives only a small portion of the total recorded remittances to developing countries, and the volume of aid flows to SSA …
Persistent link: https://www.econbiz.de/10005826522
estimates a gravity model for workers' remittances. We find that most of the variation in bilateral remittance flows can be … commonly believed. Most strikingly, remittances do not seem to increase in the wake of a natural disaster and appear aligned … with the business cycle in the home country, suggesting that remittances may not play a major role in limiting …
Persistent link: https://www.econbiz.de/10005768761
undeniable that remittances have poverty-alleviating and consumption-smoothing effects on recipient households, a key empirical …Over the past decades, workers' remittances have grown to become one of the largest sources of financial flows to … is both correlated with remittances and would only be expected to affect growth through its effect on remittances. The …
Persistent link: https://www.econbiz.de/10008528660
effect on these economies. The paper estimates the impact of remittances on output stability for countries that are dependent … find robust evidence that remittances have a negative effect on output growth volatility of recipient countries. This … result supports the notion that remittance flows are a stabilizing influence on output. Thus, the fall in remittances …
Persistent link: https://www.econbiz.de/10004999978
This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a focus on the redistributive contribution of fiscal policy. Using instrumental variable techniques to deal with potential endogeneity, we...
Persistent link: https://www.econbiz.de/10011242236