Global remittance flows have increased rapidly in recent years and are considered by many governments as being of high policy interest particularly in analysing their impact on economic development and security. Remittances are defined as representing household income from foreign economies...

The chapter tests the stages of development hypothesis for the balance of payments (SDH) in the years 1992-2016. We use data for 80 economies that are divided into five income groups. The research method includes regression. Our study yields yet limited support for SDH. The curve representing...

Does trade improve institutions and contribute to long run growth? I develop a theory of trade, in which trade liberalization provides incentive to change institutions in two ways. On the one hand, trade leads to specialization according to comparative advantage, expanding the industries that do...