Does remittance fuel labour productivity in Bangladesh? The application of an asymmetric non-linear ARDL approach

Bangladesh, a labour-abundant country, is finally learning to reap gains from her labour abundance. The historical under-optimized capital–labour ratio of Bangladesh is slowly moving towards its optimum as the migration of its labour force and consequent inflow of remittance strategically converts its abundant labour into capital. Though the fear that remittance as an alternative source of earning may result in Dutch disease for existing family members; annual data for 1982–2013 and through applying standard testing methodologies, our empirical findings suggest that such a fear is not valid since remittance flow significantly improves domestic labour productivity in Bangladesh in the long run.     

Africa's Money in Africa

Workers' remittance and compensation of employees received in Sub‐Sahara Africa (SSA) increased from USD 1.398 billion in 1980 to USD 4.834 billion in 2000 and soared to USD 21.101 billion in 2010. The impact of remittance on recipient economy requires further empirical investigation as there has not been consensus on whether remittance induces “financial prodigality” or investment in Africa. Differing from extant studies, this study employed rule of law, regulatory quality and government effectiveness as indicators of institutional quality. This is with a view to exploring how institutional quality and financial depth interact with remittance to influence investment in 44 African countries (1995‐2010). The major finding from the study, inter alia, is that institutional quality and financial depth play complimentary role in influencing remittance for investment in Africa. This study concludes that the impact of Africa's money in Africa will be enhanced in the presence of reliable institutional quality and viable financial sector. Thus, the side effect of “financial prodigality” that might be associated with remittance can be ameliorated.     

内地与香港货币法律制度的若干比较

香港回归祖国后,在“一国两制”方针的指引下,内地与香港实行不同的货币法律制度,即一个国家两种金融制度并存。从货币发行权与管理权、发行制度、汇兑制度、货币政策4个方面进行了分析比较,提出了完善我国内地货币法律制度的建议。     

国际移民汇款的经济增长效应——基于发展中国家的系统GMM分析

近几年,随着国际移民汇款规模的不断扩大,移民汇款逐渐成为发展中国家继FDI和外来援助后的重要外汇来源,移民汇款对国内经济增长产生的影响也越来越大。通过对相关研究文献的梳理,总结出移民汇款影响经济增长的五个主要效应：乘数效应、投资激励效应、贸易抑制效应、技术进步提升效应和人力资本积累效应,这五种效应最终会通过影响人力资本和技术进步水平而影响发展中国家国内的经济增长,而移民汇款对发展中国家的经济增长效应是五个主要效应综合影响的结果。通过运用系统GMM动态面板回归的方法,对选取的49个发展中国家进行了实证分析,结果显示,移民汇款对发展中国家的经济增长影响存在滞后效应,并且移民汇款的初始效应为负,滞后一期的效应为正;区域实证的结果表明,移民汇款的经济效应在不同区域存在着差异,亚洲和拉丁美洲区域的实证结果与整体一致,非洲地区移民汇款滞后变量对经济增长的影响为负。     

劳工汇款与劳动生产率提升——基于金融发展调节效应的研究

基于金融发展水平对接收国劳工汇款生产率效应的影响机理，采用142个国家1980—2017年的面板数据和面板固定效应及面板两阶段最小二乘方法，围绕“金融发展水平的差异是否会对劳工汇款作用于接收国劳动生产率产生影响”展开实证研究。结果表明：劳工汇款促进了接收国劳动生产率的提高，但随着劳工汇款数量的增加，劳工汇款对劳动生产率提高的促进作用减弱；金融发展水平越高，劳工汇款促进接收国劳动生产率提高的幅度越大，银行主导型的金融体系对劳工汇款促进劳动生产率增长的影响更大；此外，考虑金融危机可能造成影响后的回归结果仍然稳健。最后，基于研究结论，对各国如何合理运用劳工汇款、提高金融发展水平提出相应的政策建议。     

International migrant remittances and labour force participation in Nigeria

This study examines the effect of remittances inflow to Nigeria on labour force participation in the country using the propensity score matching and Heckman two‐step benchmark model. With data sourced from Nigeria's 2015/16 General Household Survey, results reveal that receipt of remittances increased both labour force participation for non‐farm economic activities and labour force participation in urban areas, perhaps as a result of investing received remittances in new business ventures. In addition, remittance inflows raised economic activeness of the younger members of the labour force who constituted a greater percentage. The study recommends the proper functioning of institutions aimed at facilitating remittance inflows as well as enhancing the utilization of such remittances in industry‐based business start‐ups.     

Can remittances buy peace?

This paper offers new empirical evidence on the effects of remittance flows on conflict incidence, onset, and duration in recipient countries. It improves on previous studies by controlling for unobserved heterogeneity among remittance recipient countries, serial correlation of conflict, and the possibility of conflict being endogenous to remittances. To motivate the empirical findings, a micro‐founded model of conflict is developed. The model shows that wealth transfers (such as remittances) can raise the opportunity cost of participation in conflicts which can lead to a reduction in both the number of rebels and the force used by the government forces.