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Does money bring happiness? To answer this question, I study the consequences of income fluctuations caused by commodity price changes on well-being patterns in regions specializing in export agriculture. Using nationally representative survey data in a difference-in-differences framework, I investigate the effects of the 2010/11 short-term increase in the global price of cotton. I demonstrate that it can be viewed as a positive income shock for the cotton-producing communities of Tajikistan. The main results indicate that the net subjective well-being effects of the cotton price increase are negative: exposure to the shock at the aggregate level is associated with a notable decrease in the reported levels of financial and life satisfaction. To explain this paradox, I consider split sample analyses, which suggest that the shock led to within-community occupational sorting and that its well-being effects are negative among households that were in the agriculture sector before the shock and barely positive for newly become farmers. Observing the increasing volume of remittances in the world and their significance to the economy of Tajikistan, I also study how remittances affect the relationship between income volatility and happiness. Further estimations reveal that family remittances are not significantly affected by and can partially mediate the negative effects of short-term income changes. The mediating effects of remittances only affect financial satisfaction, suggesting that a mere compensation of losses does not fully restore the quality of life. [ABSTRACT FROM AUTHOR]

Migrant workforces and remittance inflow have drawn considerable attention in global economic research. During the past few decades, remittance inflow became a crucial economic growth component in many emerging nations. The current study, employing a time–frequency-based wavelet technique, investigates the dynamic causal relationship between migration, foreign remittance, and economic growth in an emerging country such as Bangladesh. The findings reveal the dynamic causal among the variables; however, the results present time-varying movement under the time–frequency spaces framework. Notably, the evidence shows a significant relationship among the variables in the long run. A strong correlation appeared on the 5–16 band scales among the pair of migration and foreign remittance (MIG-REM), migration and economic growth (MIG-GDP), and foreign remittance and economic growth (REM-GDP). The outcomes suggest that Bangladesh's economic indicators are highly interrelated in the long run. Therefore, the fluctuation of indicators altered and exposed a low volatility scale for the Bangladeshi economy in the long run. [ABSTRACT FROM AUTHOR]

This article assesses the effect of migrant remittances (MR) on conflicts in SubSaharan Africa. From a sample of 45 countries, we specify and estimate a panel data model using the two-way fixed effects method (TWFE) whose robustness is proven by the system generalized method of moments (S-GMM) and the lagged explanatory variables method (LEVM) over the period from 2000 to 2020. Two main results emerge. Firstly, MR significantly increases conflicts in SSA. Secondly, the effects of MR on conflicts are mediated by corruption, education, diffusion of information and communication technologies (ICT), and financial development. The results remained robust and sensitive to the exclusion of countries in situations of intense conflict, serious conflict, intense and serious conflict, and cultural variables. We suggest the consolidation of legislation on MR and setting up a traceability system to control their volume and channel them as far as possible towards productive investments to the detriment of conflicts. [ABSTRACT FROM AUTHOR]

The paper analyzes the effect of remittances on selected Indian macroeconomic variables, including output growth, inflation, exchange rate, stock returns, and the money supply. We further divide remittances into an increase and decrease in remittances to explore the asymmetric effect of remittances. Using a novel local projection method and quarterly data from 1997Q2 to 2019Q4, it is found that remittances have a significant and asymmetric effect on the Indian economy. The increase in remittances has an immediate effect, while the decrease in remittances has a delayed effect by around 6 to 8 quarters. The study concludes by arguing that not only the growth of remittances but also their asymmetric effect may be crucial for policy analysis. [ABSTRACT FROM AUTHOR]

This study examines the determinants of new firm creation in Africa, focusing on external and internal funding sources and their interactions. It also explores the influence of colonial history by separately analyzing former British and French colonies. The primary goal is to help fill crucial gaps in African literature on the determinants of entrepreneurship. Given Africa's widespread poverty and underdevelopment, understanding what drives entrepreneurship is essential for job creation and economic growth. The study reveals three key findings. First, at the full sample level, remittances are the only external financing source positively associated with new firm creation, while foreign aid and foreign direct investment obstacle it. Internal sources, like savings and credit, do not show significant effects. Second, the subsample analysis reveals heterogeneous results: former British colonies' funding sources align with the overall findings, while in former French colonies, only savings support entrepreneurship. Third, considering control variables, the subsample analysis indicates two distinct entrepreneurship models: opportunity-based in former British colonies and necessity-based in former French colonies. These findings are noteworthy and provide significant policy implications at both national and international levels. Crucially, the positive role of remittances in financing new business initiatives, confirms that migration serves as a mutually beneficial arrangement for both sending African countries and the host countries. [ABSTRACT FROM AUTHOR]

This study examines the empirical link between remittance inflows and India's economic growth, particularly emphasizing the association's asymmetries as the prior studies were neglected. Therefore, it formulated a growth function that assesses the non-linear influence of the remittance inflows on economic growth by endogenizing the gross fixed capital formation, official exchange rate, and export growth. Relying on the annual time series data for India, the work uses the Non-Linear Auto-Regressive Distribution Lag (NARDL) model to expose the non-linear influence of the remittance inflows on economic growth by controlling the gross fixed capital formation, official exchange rate, and export growth for the period ranges from 1975 to 2021. The outcomes show the presence of the long-run relationship among the variables vector. Further, the results indicate an asymmetric impact of remittance inflows on economic growth both in the long run and short run. Moreover, the findings reveal a rise in the remittance inflows leads to an increase in economic growth, whereas a fall in the remittance inflows ends up in a reduction of economic growth. Additionally, the outcomes show a negative and significant impact of gross fixed capital formation and official exchange rate on economic growth in the long run. It also observed an insignificant negative influence of export growth on the specified growth model. [ABSTRACT FROM AUTHOR]

Recent studies provide evidence that economic policy uncertainty (EPU) is linked with the workers' remittances, yet the channel through which EPU affects the workers' remittances has been less explored. To understand the above said channel, this study uses monthly data from Pakistan, which ranges from January 2015 to November 2022. Based on the results obtained by using different econometric techniques, this study provides evidence that the foreign exchange rate mediates the relationship between EPU (both global and domestic) and workers' remittances. Additionally, it finds that the domestic EPU mediates the relationship between the global EPU and the exchange rate. Interestingly, the results highlight the limited influence of altruistic motives on remittances instead the findings suggest the prevalence of self-interest as the dominant driving factor behind workers’ remittances in the case of Pakistan. The findings of this study have implications for policymakers and stakeholders in formulating effective strategies to harness the potential of workers’ remittances for economic development and welfare enhancement in Pakistan. [ABSTRACT FROM AUTHOR]

Remittances have become a significant component of international capital flows, with millions of migrants sending billions of dollars back to their home countries annually. However, the way these outflows affect macroeconomic variables has not received sufficient attention in the literature, especially in the context of varying levels of financial development. Using time series data from 1987 to 2022 for the United Kingdom, this study examines the macroeconomic effects of remittance outflows and financial development. Our baseline estimation using the Autoregressive Distributed Lag model reveals heterogeneous impacts, as remittance outflows adversely affect economic growth but improve exchange rates. We find remittances do not have a significant effect on inflation or bank rates. The moderating effect of financial development analysis reveals a similar outcome. Our results suggest governments should consider stimulus policies that support investment in productive sectors to improve macroeconomic indicators and facilitate financial inclusion to enhance the adoption of growth strategies that promote remittances. [ABSTRACT FROM AUTHOR]

Currently, migrant entrepreneurship grows rapidly in the globe. This research study is an attempt to investigate factors and challenges influencing female migrant entrepreneurship in the business landscape of India. The research question leading the study is: 'What factors are responsible to impact on the rise of female migrant entrepreneurship in India and what challenges female migrant entrepreneurship faces?' To answer the question, the study has employed the semi-experimental and observational research methods of quantitative research design. To investigate the impacts of push and pull factors on female migrant entrepreneurship, semi-experimental research method has been employed while investigating challenges the observational research method has been considered in the study. Data were collected from 250 female migrant entrepreneurs using closed-ended questionnaires and a survey. The study has found that the pull factors of government policy, independence in business, financial gain, marketing facility, access to resources and work life, all positively influence female migrant entrepreneurship. Accordingly, discontent with the trading climate in one's native country, unemployment and individual goals positively impact on female migrant entrepreneurship by pushing female migrant entrepreneurs to India's trade landscape to initiate a business. The findings concluded that the pull factor of 'availability of infrastructure' doesn't influence female migrant entrepreneurship while the push factor of 'limitation in the growth of trade in the home country' positively influences female migrant entrepreneurship. The study has also revealed that the challenges of identity crisis, language barrier, cultural difference in trade, administrative procedures, market competitiveness, financial instability, and discrimination based on foreignness influence female migrant entrepreneurship in India. However, based on the results, the challenges of currency exchange barrier and communication barrier in the entrepreneurial process of female migrant entrepreneurship in India have been found insignificant. This study will help policymakers to make a good policy for the growth and development of female migrant entrepreneurship in India by providing with the knowledge of push and pull factors and challenges of female migrant entrepreneurship. [ABSTRACT FROM AUTHOR]

The massive increase in labor migration to the Middle East during the past three decades has rivaled its historical trends bound to the West. This paper assesses how this growing trend of migration may have helped shape the economic structure and performance across the member countries of the Gulf Cooperation Council. Findings from a descriptive and time series regression analysis of the limited cross-country data show that the experience with labor migration and its linkage with other aspects of the economy are varied. The migration trend coinciding with increasing personal remittances attests to the competitive demand for foreign labor. While labor migration shows mixed association with the key aspects of the economy, the stock of migrant population is negatively associated with economic growth. Albeit seemingly contradictory, the insights from this six-country analysis covering the periods since 1990 are useful to understand the complex nature of relationship between labor migration and economic structure and performance in the region. [ABSTRACT FROM AUTHOR]

This article concerns emigrants who returned to Kerala between May and December 2020 in the midst of the COVID-19 pandemic. We study and document the experiences of 1985 return emigrants (REM) through a quantitative survey conducted via Computer-Assisted Telephonic Interviews. The study utilises a comparative classificatory framework that categorises return emigrants into three groups: normal REM, distressed REM, and REM who returned to re-emigrate. While the REM have been a demographically, politically, and economically significant component of Kerala's population, the COVID-19 REM represent a unique case in history that has the potential to not only affect the economy, society, and psyche of Kerala for many years to come, but to also provide valuable insights into the future of global labor migration governance. [ABSTRACT FROM AUTHOR]

Ensuring access to and usage of formal financial services through digital devices can be referred to as "digital financial inclusion" (DFI). In recent years, there has been a growing trend in the use of financial services, including money transfers through mobile phones. This study applies mobile phone subscriptions as a proxy to measure the degree of DFI and explores the individual effects of DFI and remittances and their interaction effects on poverty conditions in developing countries. Using panel data from 2000 to 2020 for 123 countries and employing the dynamic generalized method of moments estimation, the results reveal that DFI and remittance inflows help ameliorate poverty in developing countries. Furthermore, we find that the coefficient of the interaction term between DFI and remittances is statistically significant and positive, suggesting that the impact of DFI on poverty alleviation could weaken as remittance inflows increase in the remittance-receiving country and vice versa. [ABSTRACT FROM AUTHOR]

This research is the maiden attempt to focus on the linkage between remittance outflow and environmental quality in Saudi Arabia, controlling ICT, environmental innovation, and energy consumption. It employs annual data from 1990 to 2020 and applies asymmetric and symmetric analyses based on "nonlinear autoregressive distributed lag (NARDL)" and "autoregressive distributed lag (ARDL)" approaches. The outcomes of the NARDL approach remain robust and stable. In contrast, the ADRL approach produces unreliable outcomes. The "dynamic ordinary least square (DOLS)" assessment validates the robustness of the NARDL approach. Our analysis reveals a long-run association among variables. Remittance outflow's overall impact on CO2 emissions is negative, with a negative effect of its negative shocks and an insignificant effect of its positive shocks. ICT's positive shocks significantly reduce environmental pollution, while its negative shock is still insignificant. When environmental technology advances, pollution decreases and increases when it declines. Energy use contributes to environmental degradation because most of the Kingdom's energy comes from nonrenewable sources. Our research suggests that policymakers should create policies that minimize remittance outflows, boost the deployment of ICT, increase the proportion of environmental technology in the total technology portfolio, and produce and use more renewable energies to reduce environmental pollution. [ABSTRACT FROM AUTHOR]

In a male-dominated international migration system, women are more likely to head households after the exit of migrants. We decompose the impact of sending an international migrant into an effect attributable to a change in the gender of the household head and other mechanisms. We find that the effect attributable to a shift from a male-to-a female household head due to migration is negative for economic activities and expenditure indicators. Our results suggest that some households are forced to weigh the benefits of sending an international migrant against the costs of switching to a female household head. [ABSTRACT FROM AUTHOR]

This study aims to identify the lead-lag interaction between remittances, renewable energy consumption, and carbon dioxide emissions in Vietnam in the time-frequency domain. Using different wavelet techniques, including bivariate, partial, multiple wavelet coherence, and the wavelet-based Granger test, our findings uncover that the interplay between remittances, renewable energy consumption, and CO2 emissions is statistically significant over the short- and medium-term horizons. These outcomes highlight the importance of policymakers effectively coordinating policies to address Vietnam's significant environmental degradation. In addition, Vietnam should also actively promote renewable energy development and establish a more competitive environment for renewable energy investment. [ABSTRACT FROM AUTHOR]

A country's financing system is essential in addressing sustainable development requirements. National sources and international financial flows contribute to economic growth and environmental quality in many ways, and their impact can be critical. This paper applied panel data analysis using a comparative approach of Pooled Mean Group Auto Regressive Distribute Lags (PMG-ARDL) and Cross Sectionally ARDL (CS-ARDL) to estimate the effects of FDI, renewable energy, and remittance on environmental quality in the top remittance-receiving countries, during 2000–2021. The study emphasized the positive relationship between FDI and carbon emissions. Moreover, renewable energy and remittances revealed an inverted U-shaped relationship with carbon emissions. In the case of developing countries from the panel, remittance improves environmental quality after reaching the threshold. Moreover, for some of the developing countries included in the panel, we found that they do not achieve the desired carbon mitigation effect in their early stages of renewable energy implementation. However, renewable energy becomes a key factor for tackling environmental pollution after a certain threshold. The mixed results determined diverse policy recommendations for various stakeholders. [ABSTRACT FROM AUTHOR]

Based on a qualitative study of Zimbabwean migrants based in South Africa, who regularly remitted goods and money to Zimbabwe between 2010 and 2020, this paper suggests that at a local level, remittances alleviated poverty with very limited if any transformation of the political economy at the national level. Such remittances promoted consumerism without sustainable investment that can structurally transform the economy. In addition, the dependence on remittances entrenches the culture of migration at the local level, which also contributes to or promotes ethno-tribal fissiparity. In rethinking diaspora remittances in the post-Mugabe era, it is advanced that the seemingly intractable economic and political quagmire in Zimbabwe must be resolved to inspire confidence in the diaspora to pull remittances together for a national socio-economic cause and not local-level band-aid accomplishments which remittances currently do. [ABSTRACT FROM AUTHOR]

Substantial research evidence have shown the benefits of foreign remittances and patriotism to national growth and human welfare. Also, many studies have established the importance of lower extent of deprivation on economic growth and better well-being. However, little or no research has examined the impact of foreign remittances on subjective personal relative deprivation and patriotism, and impact of deprivation on patriotism in a single study. This study, therefore examined the relationship between foreign remittances, personal relative deprivation and patriotism. Results generated through analysis of cross sectional data demonstrated that greater subjective feelings of personal relative deprivation were associated with higher foreign remittances from family members, friends and neighbours. Similarly, lower patriotic behaviours were found to associate with higher subjective feelings of personal relative deprivation. The results provide further evidence for theories on relative deprivation-patriotism nexus and calls for attention on public policy to reduce economic inequality through provision of gainful employment, standardised salary/wage structure and make regular review of such salary/wages according to the prevailing economic condition. [ABSTRACT FROM AUTHOR]

Due to rising economic growth, financial flows have been of particular interest to nations. However, their environmental concerns have been overlooked particularly in developing countries. To aid in filling this gap, an exploration on the link between financial flows and environmental quality in ECOWAS member countries for the period 1990–2017 was undertaken. In achieving the study's goal, second generation econometric methods that account for cross-sectional dependence and slope heterogeneity among others were engaged. From the results, the studied panel was heterogeneous and cross-sectionally correlated. Also, the investigated variables were stationary and cointegrated in the long-run. The dynamic common correlated effects mean group (DCCEMG), augmented mean group (AMG) and the common correlated effects mean group (CCEMG) estimators were employed to examine the elastic effects of the predictors on the explained variable, and from the results, remittances worsened environmental quality in the region. Also, foreign direct investment was detrimental to ecological quality validating the pollution haven hypothesis. Further, economic growth and urbanization were not friendly to environmental quality in the bloc. However, environmental innovations improved the ecosystem of the region. On the causal connections amidst the series, there was feedback causalities between remittances and environmental pollution, between economic growth and ecological deterioration, and between urbanization and environmental degradation. Also, there was a one-way causality from foreign direct investment to ecological pollution, but there was no causality between environmental innovations and ecological pollution. Based on the findings, the study recommended that remittances received by the nations should be invested into research and development, green innovations, energy efficiency and green energy sources to help improve environmental quality in the region. Also, the region's environmental policies should be modified to control the influx of polluting FDIs into the countries. [ABSTRACT FROM AUTHOR]

Drawing on the international relations literature, the purpose of this paper is to investigate whether and when diplomatic relations between countries have an influence on firm internationalization speed. We discover that the friendlier bilateral diplomatic relations between home and host countries, the more beneficial it is to enhance firm internationalization speed. In addition, the higher trade openness of the host country, the smaller contribution of bilateral diplomatic relations for firm internationalization speed in the host country and friendly bilateral diplomatic relations have a stronger positive impact on internationalization speed when the internationalizing home enterprise is a state-owned enterprise (SOE). Our findings not only contribute to both the firm internationalization speed literature and the international relations literature, but also have managerial significance for how enterprises can use the friendly diplomatic relations between countries to improve firm internationalization speed. [ABSTRACT FROM AUTHOR]

Unemployment is one of the biggest macroeconomic issues, and economists and policymakers have provided various options to tackle this menace. Financial inclusion and remittances are an important part of any economy and help increase the level of employment. However, despite extensive research, several gaps and issues in understanding the intricate relationship between financial inclusion, workers' remittances, and the unemployment rate in Asian economies persist. This paper seeks to bridge these gaps and address the issues by examining the relationship between financial inclusion, workers' remittances, and the unemployment rate in Asian economies using rigorous econometric methodologies, such as two-stage least squares (2SLS) and generalized method of moments (GMM) methods. The findings of 2SLS and GMM demonstrate that ATM, remittances, internet users, GDP, and financial globalization adversely influence the unemployment levels in Asia, Central Asia, East Asia, Southeast Asia, West & Middle East Asia, and South Asia in 2SLS and GMM models. However, the influence of inflation on the unemployment level is favourable in some regions. Therefore, it is important to give priority to policies that encourage financial inclusion, such as increasing underprivileged populations' access to banking services, credit, and insurance. Moreover, reducing transaction costs, streamlining money transfers, and promoting formal remittance channels can boost remittances. [ABSTRACT FROM AUTHOR]

Extensive theoretical and empirical evidence supports the crucial role of savings in driving a nation's economic growth and development. However, previous studies have not considered their potential environmental implications. This study aims to explore the influence of savings and remittances on the Developing-8 countries (D-8) from 1989 to 2019, using the panel autoregressive distributed (ARDL) model. The findings reveal that national savings and remittances, in the long run, help mitigate environmental degradation in the D-8 countries but energy use and population growth stimulate carbon dioxide (CO2) emissions. In contrast, economic growth does not significantly affect these countries' environmental quality in the long run. However, none of the explanatory variables have any significant relationship with CO2 emissions in the short run. Therefore, policymakers in the D-8 countries are strongly encouraged to prioritize the enhancement of national savings across the three economic agents to maximize the positive effects of savings on environmental quality. Government savings can be increased by reducing deficits and borrowings, while corporate savings can be encouraged by implementing investment tax credits and promoting research and development. Additionally, governments can embark on public enlightenment campaigns on financial education and provide incentives to encourage household savings. [ABSTRACT FROM AUTHOR]

Immediately after the COVID-19 pandemic was declared by the World Health Organization on 11 March 2020, most countries took measures to prevent international human mobility. While the economic consequences of the pandemic significantly reduced remittances sent by migrants through formal channels, restrictions on human mobility almost halted the cross-border movements of remittances through informal channels. Policy measures related to the labour market and social welfare practices have also played determining roles in remittance transfers. This paper aims to examine how the labour-market participation of migrants and pandemic-induced financial support affect remittances sent migrants to their home countries during the COVID-19 outbreak. The author used an inductive approach and analysed qualitative data from two groups of Turkish migrants with different status in the UK labour market. The findings demonstrate that during the COVID-19 pandemic measures to restrict human mobility, migrants' income/job losses, and dependence on tightly regulated financial support can have devastating effects on remittances sent from the UK to Turkey through both formal and informal channels. This study contributes to remittance literature by evincing the vicious cycle of irregularity in the relationships among remittances, labour markets, and welfare regulations in host countries. In countries with a tight regulatory system, irregularity in the labour market brings about irregularities in money transfers. In possible future events where there is a high probability of an economic downturn and travel restrictions, such as pandemic, natural disasters, armed conflicts and so on, especially for migrants, it is important to set a minimum base wage which can be referred to as 'Temporary Basic Income Support'. This policy proposal is important as measures that facilitate remittance transfers through formal channels, are one of the most important means of reducing global inequalities and disadvantages. [ABSTRACT FROM AUTHOR]

Personal remittances significantly boost financial development of SAARC countries, but it is not favorable for their quality of environment. Therefore, this research spotlights the heterogeneous effect of remittance, financial development, fossil fuels energy consumption and carbon dioxide emissions in all SAARC economies using dynamic panel data from 1990 to 2020. The estimation among variables is checked through fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), and fixed effect ordinary least squares (FE-OLS) methodologies. Findings showed that remittance inflows increase carbon dioxides emissions. Financial development, fossil fuels energy consumption, and population increase carbon dioxide emissions in these economies. Additionally, these countries' economic growth (GDP) contributes to environmental degradation in the long run. Furthermore, the findings support the inverted U-shaped environmental Kuznets curve (EKC), which reveals that SAARC countries need to enhance the ecological trade-offs, clean technological innovations, and promote a sustained lifestyle to improve environmental quality. So, the government should empower the financial sectors to reduce the dependence on detrimental energy resources and invest in renewable energy resources. Policymakers should take remittances and financial development into account as policy instruments to develop long-term policies. [ABSTRACT FROM AUTHOR]

One of the most debated issues in migration economics regards the effects of remittances in receiving countries. In this paper, we test whether the economic complexity of a country is relevant for understanding the impact of remittances on new firms' birth. We find evidence that the impact of real per capita remittances on new firms' creation is inversely mediated by economic complexity. More (less) complex economies generate opportunities to found new firms which need high (low) funding. Since economic complexity is positively correlated with economic development, remittances are more likely to facilitate the establishment of new firms in less developed economies rather than in more advanced ones. We also examine the link between remittances and new firm creation for Africa, Asia, Europe, and Latin America and the Caribbean countries, finding very heterogeneous patterns. Hence, policy implications aiming at attracting remittances to create new firms should respond to the challenges posed by specific countries and be tailored to their peculiar needs. Countries of origin should build institutions and facilitate the creation of networks to bridge the diaspora abroad with their home country to increase awareness of new business opportunities. Policy initiatives could spur investment in the formal economy by making regulations less stringent, discouraging the use of remittances for consumption purposes, reducing informality, improving competition, reducing remittance transfer costs, and giving incentives to new firms created through remittances. [ABSTRACT FROM AUTHOR]

Remittance inflows are driven by macroeconomic conditions in the home and the host economies, respectively. In this paper, we study the effect of US monetary policy on remittance flows into economies in Latin American and the Caribbean. The role of Fed policy for remittances has not yet been studied. We estimate a series of panel local projections for remittance inflows into eight countries. A surprise change in US monetary conditions has a strong and highly significant negative effect on inflows. Our finding remains robust if we change the sample period or include additional variables. Hence, our paper establishes a remittance-channel through which the Fed affects the business cycle abroad. [ABSTRACT FROM AUTHOR]

Asides from renewable energy consumption, technological innovation and remittances are mostly ignored as critical tools and resources that can be adopted to ameliorate environmental worries, even when remittances have more considerable resource inflow than official development aids. Based on this information, the current research investigates the implications of technological innovation, remittances, globalization, financial development, and renewable energy on CO2 emissions in top remittances-receiving countries from 1990 to 2021. To obtain reliable estimates, we use a battery of advanced econometric techniques and method of moments quantile regression (MMQR) method. The AMG results suggest that innovation, remittances, renewable energy, and financial development alleviate CO2 emanations, whereas globalization and economic growth worsen environmental sustainability by increasing CO2 emissions. Besides, the MMQR results confirm that renewable energy, innovation, and remittances decrease CO2 emissions across all quantiles. A bidirectional causality exists amid financial development and CO2 emanations, and across remittances and CO2 emissions. However, one-way causality flows from economic growth, renewable energy and innovation to CO2. This study suggests some essential measures for ecological sustainability in light of the findings. [ABSTRACT FROM AUTHOR]

International emigration and remittance inflow is not a novel phenomenon for India. The present study examines the factors influencing emigration and size of remittance inflow. It also examines the effect of remittances on the economic wellbeing in terms of expenditure of the recipient households. In India, the remittance inflows are important source of funding for the recipient households in rural India. However, the studies focusing on the impact of international remittances on rural household wellbeing in India are rarely found in the literature. The study is based on the primary data collected from the villages in Ratnagiri District, Maharashtra, India. It uses logit and probit models to analyse the data. The results show a positive association between inward remittances and economic welfare and subsistence of the recipient households. Findings of the study show a strong negative relationship between the education of the household members and emigration. [ABSTRACT FROM AUTHOR]

This article examines the relationships between remittance and financial development (financial institutions and markets) in India and China on the availability of annual data from 1984 to 2018. Human capital formation is considered as a channel of remittances in financial development functions. Institutional quality, Economic globalization, foreign direct investment, economic growth, and government investment are included as a set of control variables in the financial development function. The results of the ARDL bounds test model indicate that remittance can positively impact financial development dynamics in both countries. While considering the human capital formation, higher levels of skilled human capital (secondary and tertiary enrolments) enhance financial development, but low-level human capital (primary enrolments) fails to do so. One contradiction found from the result is that remittance is negatively but significantly affecting financial institutions in India, and also detrimental to China's financial market. Oppositely, remittance positively impacts India's financial market and China's financial institutions. We find the varying impacts of control variables on financial development. The outcome of this paper stresses the necessity of a higher level of skilled human capital and improved institutional quality in both countries, which provides better utilization of remittances and other foreign and domestic financial flows. [ABSTRACT FROM AUTHOR]

The objective is to present our contribution to the theoretical literature through a simple theoretical model dealing with the effect of remittances on the labor market of the origin countries and on the other hand to test this relationship empirically in the case of Tunisia. The methodology used consists of estimating a panel of the nine main destinations of the Tunisian migrants in Europe between 1997 and 2017. The empirical results show that the main factors explaining the decision to emigrate are the economic factors related mainly to the income differential, the demographic factors related to the differential age structure of the origin and host populations, and the cultural factors linked basically to the language mastery. Indeed, the migrant stocks are one of the main determinants of the remittances to Tunisia. But there are other variables that do not lack importance such as the economic conditions linked by the host countries. This shows that Tunisian migrants react more to economic conditions in European countries than in Tunisia. The economic situation of European countries dominates the number of emigrants as an explanatory factor for the amount of transfers from Tunisian emigrants. Similarly, the results confirm that an increase in remittances significantly reduces the demand for employment and therefore increases the unemployment rate. This positive correlation reveals that the impact of demographic changes on the effect of remittances occurs through an increase in unemployment due to the aging of the population, which coincides with the case of Tunisia going through a demographic transition period. [ABSTRACT FROM AUTHOR]

International migration not only provides external capital in the form of remittances, but also has many positive externalities – such as trade creation, financial development, skill development, technology diffusion, productivity enhancement, and capital accumulation – for low-income countries. In this context, this paper examines whether remittances crowd in or crowd out domestic investment using data from 24 low-income countries over the period 2004–2018. Using second-generation panel methodology that accounts for endogeneity problem and cross-section dependency among countries, the study finds that remittances crowd in domestic investment in the long run. The results further suggest that the crowding in effect is more pronounced in countries with more developed financial systems and higher human capital levels. The results from the panel causality test also support the crowding in hypothesis as there seems to be mutual feedback effect between the two. Thus, the empirical analysis in the study posits that remittances play a critical role in economic development by promoting domestic investment in the recipient countries. [ABSTRACT FROM AUTHOR]

This study investigated the effect of remittance inflows on educational attainment with the interaction effect of social infrastructure. The system generalized method of moments (Sys-GMM) technique was applied to analyze data from 69 countries from 1995 to 2019 using a 5-year non-overlapping average. The findings revealed that: (1) remittances and income have a negative effect on educational attainment in low- and middle-income countries; (2) social infrastructure, government expenditures on education, and institutional quality have a positive effect on educational attainment; (3) remittances alone cannot generate educational attainment; however, when remittances work in tandem with better social infrastructure, it facilitates educational attainment; (4) remittances and social infrastructure have asymmetric effects on educational attainment; and (5) remittances contribute more to females than males in obtaining an education. Thus, the findings suggest that policymakers should formulate alternative social infrastructure development strategies to render higher returns from remittances. [ABSTRACT FROM AUTHOR]

The study examined the impact of renewable energy, non-renewable energy, remittances, and economic growth on environmental degradation from the perspective of carbon dioxide emissions (CO2) and ecological footprint for the top 50 remittance-receiving countries for 1991–2018. This study simulates the environmental future for attaining the targets of Sustainable Development Goal 7 (SDG7) using the latest datasets. This study is one of the few that empirically explores how various explanatory variables affect CO2 and ecological footprint. The study employed the pool mean group autoregressive distributive lag (PMG-ARDL), fully modified ordinary least squares (FMOLS), and dynamic ordinary least squares (DOLS) techniques for the analysis. In the long-run, non-renewable energy and economic growth have a positive impact, whereas renewable energy and remittances have a negative impact on CO2 and ecological footprint. The impact of non-renewable energy on CO2 and ecological footprint is more significant than renewable energy in both the short- and long-run. Most of the variables have a bidirectional causality among each other. This highlights the need for a paradigm shift towards renewable energy in the top recipients specifically for developing countries. [ABSTRACT FROM AUTHOR]

The majority of developing nations worldwide face severe challenges in ensuring universal electricity access for their respective populations. Hence, this study focuses on assessing the factors stimulating and inhibiting national electricity access rates in 61 developing nations from six global regions during the 2000–2020 period. For analytical purposes, both parametric and non-parametric estimation techniques that are efficient in handling major panel data-related problems are used. Overall, the results reveal that a higher influx of remittances sent by the expatriates does not directly influence electricity accessibility. However, adoption of clean energy and improvement in institutional quality promote electricity accessibility while higher income inequality undermines it. More importantly, good institutional quality mediates between international remittance receipts and electricity accessibility as results endorse that international remittance receipts and institutional quality improvement jointly exert electricity accessibility–promoting impacts. Moreover, these findings depict regional heterogeneity while the quantile-based analysis highlights contrasting impacts of international remittance receipts, clean energy use, and institutional quality across different quantiles of electricity accessibility. Contrarily, worsening incidences of income inequality are evidenced to undermine electricity accessibility across all quantiles. Therefore, considering these key findings, several electricity accessibility–boosting policies are suggested. [ABSTRACT FROM AUTHOR]

This paper analyzes the effect of remittance inflows on external debt in developing countries, by identifying international reserves as a potential transmission channel. Using panel data over the period 1970–2017 and covering 50 low-and middle-income countries worldwide, we find a positive and significant effect of remittance inflows on the external debt-to-GDP ratio. We also find a negative and significant effect of international reserves on external debt. After controlling for international reserves, the effect of remittance inflows on external debt increases; it remains positive and significant. The results suggest that the role of international reserves as a self-insurance mechanism, and the Dutch disease effect related to remittance inflows are at play. In addition, we find negative and significant effects of economic growth and savings-investment gap on external debt. We also find positive and significant effects of the nominal exchange rate and the United States lending interest rate on external debt. We discuss the policy implications of these findings, while highlighting factors that policymakers should focus on for containing external debt in developing countries in the post-COVID-19. [ABSTRACT FROM AUTHOR]

Beginning in the 1990s and intensifying after the events of September 11, deportations in the United States increased to record levels under President Obama and continued at high levels under President Trump. Although a growing literature addresses how migrants respond to the shifting context of reception, empirical evidence on how migrants’ remitting and saving behavior changed as a result of immigration enforcement remains limited. Using detailed individual-level data from the Mexican Migration Project (MMP, N = 6787) for the years 1970–2019, this study examines how deportations relate to Mexican migrants’ joint decisions to remit and/or save, and how this relationship differs by documentation status. Results from multinomial logistic regressions reveal that rising deportations are associated with an increase in the transnational economic engagement of undocumented migrants. This is largely due to an increase in remittances; savings brought back decrease with rising deportations, likely because keeping savings in the United States is riskier than sending money back directly. Among documented migrants, the remitting and saving behavior does not appear to change as deportations rise. Analyzing these behaviors together is important to gain a more complete understanding of migrants’ transnational economic ties and links to the country of destination. [ABSTRACT FROM AUTHOR]

Green environmental innovation is a vital pathway toward the development of a green environment and environmental sustainability. There exist various factors that can potentially affect the various strategies permissible for green environmental innovation. Among the others, this study mainly focuses on exploring the role of external forces including foreign official aid, foreign energy aid, remittances, and FDI inflow in driving the green environmental innovation. By utilizing the sample of Asian economies and a wide range of data for the year 2001–2018, the statistical outputs of the system GMM model reveal the positive significant effect of all external forces on green environmental innovation proxied by patent registration, green technological development, and green growth innovation. The inflow of foreign funds in the form of foreign official aid and foreign energy aid can boost technological development by providing financial assistance. Similarly, the receipts of remittances can help the local government to offer subsidies to industrial sector for green environmental innovation. The inflow of FDI can maximize the green environmental innovation in the host country by transfer of knowledge and a modern production system. Communally, it can be asserted that the inflow of foreign funds can enhance green innovation in the host country. In addition, the empirical analysis suggests the dynamic effect of economic growth, environmental taxation, trade volume, and financial development on green technological development. The empirical analysis suggests that government officials should introduce some policy incentives to enhance the inflow of foreign funds to maximize the green innovation and to stimulate the green technology development. [ABSTRACT FROM AUTHOR]

This paper established an open general equilibrium model to study the effect of the change of rural–urban migrants' remittances rate on agricultural pollution. We found that the increase of migrants' remittances rate would not influence the output of agricultural pollution factor production sector or the agricultural pollution in the capital specific case; and in the mobile capital case, the increase in the rural–urban migrants' remittances rate will decrease the output of the agricultural pollution factor production sector and then decrease the agricultural pollution. In addition, we investigated the numerical characteristics of the effects of the change in the rural–urban migrants' remittances rate on the relevant variables, and we also found that the increase in the migrants' remittances rate would increase the national income and improve the level of gross national welfare under certain conditions, no matter in the capital specific case or in the mobile capital case. [ABSTRACT FROM AUTHOR]

Saudi Arabia is the leading economy in the Arabian Gulf region; it accounts for a significant amount of remittance outflow (RMO) to the rest of the world. The objective of the study is to investigate the impact of remittance outflow on the economic growth (EG) of Saudi Arabia by utilizing time-series data from 1985 to 2019 controlling trade, labor force, human capital, and physical capital. It employs the non-linear autoregressive distributive lag (NARDL) model, cointegrating regressions, and vector error correction (VEC) Granger causality check to accomplish the study. The outcomes of the NARDL exercise confirm a cointegrating association among variables and reveal that RMO has mixed but negative resultant impacts on the EG in the short run, while in the long run, EC growth is augmented if remittance outflows decline. Both trade and labor force positively contribute to EG, while neither human nor physical capital significantly influences the latter. The cointegrating regression outcomes precisely authenticate the NARDL findings and acknowledge their robustness. Moreover, the VEC Granger causality test also supports the NARDL outcomes. The outcome suggests that the policymakers may allure the expatriates through pragmatic labor laws, policies, and smart incentives to direct their savings to domestic consumption and investments. Moreover, the quality of education in general and tertiary education, in particular, needs to be upgraded in the real sense to develop the practical skills and efficiency of the Saudi labor force so that they can replace the expatriates. This will eventually reduce outbound remittances. [ABSTRACT FROM AUTHOR]

South Asia is primarily affected by environmental degradation. As a result, it is worthwhile to explore the impact of international capital flows on the ecological sustainability of the South Asian region. There are many studies in the literature on the CO2-remittances nexus, CO2-FDI nexus, and CO2-economic growth; however, no study has yet taken remittances and FDI into account in the symmetric and asymmetric model for the South Asian region. To address the research gap, this study investigates the effect of international capital flows, fossil fuel energy consumption, and economic growth on South Asian carbon emissions. This study examines the effect of fossil fuel energy consumption, remittances, foreign direct investment, and economic growth on the environmental sustainability of the South Asian region from 1975 to 2020. Autoregressive distributive lag (ARDL) and non-linear ARDL (NARDL) models are used to estimate the symmetrical and asymmetrical relationships among the variables. The findings of the ARDL models reveal that fossil fuel energy consumption and economic growth increase while remittances and FDI decrease carbon dioxide (CO2) in the long run. According to the NARDL empirical findings, positive remittances and negative FDI shock reduce CO2. Besides, the positive and negative fossil fuel energy consumption shock increases CO2. Moreover, the positive (negative) economic growth shock increases (decreases) CO2. The cumulative dynamic multipliers revealed the adjustment pattern to new long-run equilibria. The study recommends that policymakers regard remittances and FDI as policy instruments, particularly when developing long-term strategies and policies connected to environmental quality. [ABSTRACT FROM AUTHOR]

This paper attempts to know the contribution of remittances to the economic progress of three low-income Asian frontier countries namely Bangladesh, Sri Lanka, and Vietnam. This study applies pooled ordinary least squares (OLS), fixed effect, and random effect models to know the aggregate impact of remittances on economic development using panel data from 1990 to 2019. Vector error correction model and granger causality have been used to know the country-specific impact. The regression results indicate a significantly negative impact of remittances on the economic progress of sample countries. In Bangladesh, remittances have neither short-run nor long-run association; while in Vietnam, there exits short-run association but no long-run association. In Sri Lanka, the short-run causality flows from remittances to GDP per capita and vice-versa. This study further observes excessive consumption and investment in unproductive sectors of transferred money result in a negative correlation with economic development. This study analyzes both the impact of remittances on economic development from an aggregate perspective and from a country-by-country perspective, unlike previous studies that only considered an aggregate perspective. Based on the findings and recommendations of this study, it is expected that policymakers will be able to use the remittances to accelerate economic growth in productive sectors. [ABSTRACT FROM AUTHOR]

The study has empirically examined how corruption can play a disruptive role in the progress of both domestic and national economy in India and what could be the degree of response of foreign capital inflow towards economic growth in both short run and long run since the economic liberalization. Therefore, our study has examined the effects of foreign capital inflows (i.e., remittance and foreign direct investment) on economic growth by controlling corruption, government final consumption expenditure, and trade balance over the period from 1995–1996 to 2016–2017. We have employed advance econometric models such as autoregressive distributed lag (ARDL) and Bayer-Hank (B-H). Our result shows that external capital inflow, corruption, trade balance, and government consumption expenditure are all associated with economic growth for long-run development. But the inclusion of an open economy (i.e., external capital inflows and trade balance) has not shown a significant effect on regional (domestic income) development since the initiation of economic reforms of the late 1990s in India, while the closed economy parameters such as government expenditure is remaining a potential contributor for growth in both domestic and national development. Rising corruption is always a threat to the Indian economy, and control of corruption is now a major challenge for an emerging economy to sustain its growth and development. This study could be useful for policymaking on the issues of governance and investment climate not only in the domestic economy of India but also in other emerging economies at large. [ABSTRACT FROM AUTHOR]

Communities in the Hindu Kush Himalayan (HKH) region of Pakistan are highly vulnerable to climate change. Capacity building of local communities is integral to adopt an evolving strategy to address adverse effects of climate change. This paper examines the significance of adaptive capacity through training and orientations and its efficacy to address climate induced hazards. Data from remittance receiving 246 households in treatment group and 247 households in control group were collected from selected villages of Districts Hunza and Nagar in Gilgit-Baltistan, Pakistan. The difference in difference (DiD) method was used to examine the impact of the intervention—adaptation and effects. The results of the study revealed that enhanced capacity building of local communities in terms of financial literacy, investment in flood preparedness and adoption of disaster risk reduction have significant impact and corelation with improved resilient planning strategies and practices. The study recommends further actions, trainings and to governmental and non-governmental organizations to emphasize on proper utilization of remittances and to orient the mountain communities about proper plans and actions to mitigate the climate change impact. [ABSTRACT FROM AUTHOR]

This study advances the remittance-entrepreneurship research by examining the effectiveness of e-government as a mechanism for reducing migrants' transaction costs and promoting remittance-based opportunity entrepreneurship in 55 remittance-recipient countries. The study is grounded in the Transaction Cost Economics theory and uses the panel Feasible Generalized Least Squares and the Driscoll–Kraay estimation techniques with biennial data from 2007 to 2019. The findings reveal that using e-government to provide services to migrants generates a positive net association between remittances and new formal business creation. Second, there is a positive association between remittances and entrepreneurship across regional and income groups conditional on e-government development. Third, online service and telecommunication infrastructure indices positively moderate the association between remittances and entrepreneurship, with telecommunication infrastructure development playing the most important role. Lastly, entrepreneurship is positively influenced by economic globalization, financial development, and different measures of institutional quality. The policy implication is that achieving a sufficient level of government digital infrastructure development is crucial for the effective engagement of migrants, reduction of transaction costs, and increased remittance-based formal entrepreneurship in developing countries. [ABSTRACT FROM AUTHOR]

The present paper examines the significance of remittances by the male outmigrants on socio-economic development of the receipient households in a frequently drought affected Bankura district in the Rarh region of West Bengal State of India with particular emphasis on the varied impacts with respect to differential access to landholding or lack of it. As many as 185 out of a total of 756 households were randomly selected for collection of data with the help of a structured household schedule. Logistic regression model has been fitted to analyse the relation between the size of migrant remittances and important socio-economic determinants. The study revealed that the size of the remittance depends on nature and types of work undertaken by the migrants at the destination. Only a small proportion of the recipient migrant households utilized the remittances received by them for a single purpose though the majority used it for a multiple of purposes. Majority of the migrant households utilized the remittances for food consumption as well as to repay the loans taken by them before adopting migration as a strategy to improve their living. Outmigration for a short or longer period appears to be a successful strategy for these households to withstand chronic poverty suffered by the most marginalised segment while the somewhat better-off sections manages to further improve their living conditions with the help of remittances received. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between foreign capital inflows (i.e., FDI inflows and remittances), human capital, and its effects on economic growth in 4 North African countries. Annual panel data from 2000 to 2018 are examined using the GMM estimator. First, we found strong evidence of a positive link between foreign direct investment and economic growth. Moreover, the results indicate that the complementarity between FDI and human capital positively influences economic growth. Second, the remittances are found to be positive factors for economic growth. In fact, the higher human capital accumulation of receiving countries increases these positive impacts. Overall, the results indicate that foreign capital inflows are positively correlated with human capital in influencing economic growth in the North African countries. Therefore, the significant implications are that particular attention will be paid to human capital in these countries, and appropriate government policies are required for better absorption of foreign capital inflows. [ABSTRACT FROM AUTHOR]

Little is currently known about how policy choices that seek to bridge the gap between low production capacity and growing consumption demands in developing economies impact the environment. To address this research gap, a quantile-based model is used to examine the impact of three policy-relevant variables on carbon dioxide (CO2) emissions: international remittance inflows, trade liberalization, and renewable energy consumption. Territorial-based CO2 emissions are used to explain the environmental effects of the variables when emissions are calculated solely on the basis of domestic production capacity. To consider if trade-induced consumption demands provide a better measure for assessing the environmental effects of the variable, consumption-based CO2 emissions are used. The study focused on Sub-Saharan African countries with zero or net positive CO2 emissions from trade. The results show, among other things, that remittances and trade liberalization increase CO2 emissions irrespective of the accounting method. Trade, in particular, has a stronger effect through import-induced consumption activities. However, the effect is statistically insignificant for the lower quantile countries and statistically significant for the middle and upper quantile countries. Harnessing the potential of renewable energy to reduce CO2 emissions should thus be a priority for policymakers in net-importing developing economies if production and consumption activities are to be created in less carbon-intensive ways. [ABSTRACT FROM AUTHOR]

This paper examines the effects of foreign visits by public officials on international trade. Using an original database that gathers more than 13,000 visits of French officials abroad and of foreign officials in France over the 1977–2007 period, it is shown that a bilateral visit to a foreign country is associated with an increase in French exports by 8% on average. This average effect hides considerable heterogeneity across world regions. The paper provides some evidence on the underlying mechanisms and finds that face-to-face visits mitigate trade costs related to contractual enforcement, insecurity and information. Indeed, analysis at the sectoral level reveals that visits increase French exports of a large variety of products, but that their effect is larger for differentiated products, i.e., goods highly exposed to contractual risks. Furthermore, bilateral visits reinforce trade, particularly in countries characterized by weak contract enforcement, corruption and lower political proximity with France, as well as by a smaller number of French migrants. [ABSTRACT FROM AUTHOR]

The current study looks at the causes of carbon dioxide (CO2) emissions by considering the implications of remittances in the presence of economic growth, financial development, and energy consumption in the case of selected four G-20 economies over the period 1990–2019. This study first uses the dynamic simulated ARDL model to stimulate, estimate, and plot to predict graphs of negative and positive changes occurring in the variables along with their short-run and long-run relationships. Results of the ARDL bounds test confirm a long-term relationship among remittances, financial development, economic growth energy consumption, and CO2 emissions. Furthermore, the error correction model (ECM) also confirms the long-run relationship among CO2 emissions, remittances, financial development, economic growth, and energy use. The results of a novel dynamic simulated ARDL disclosed that financial development is completely connected to CO2 emissions in Mexico and India in the long run. On the other hand, results confirm that there is a positive relationship between remittances and CO2 emissions in the case of Australia, Germany, and India, but this relationship is insignificant with CO2 emissions in the case of Mexico. The result further disclosed that renewable energy exerts a significant impact on CO2 in Australia, Mexico, India, and Germany in the long run while remittances wield a significant impact on CO2 emissions in Australia, Mexico, and India. Moreover, the findings concluded that GDP has significant nexus with CO2 in the long run in the case of Australia, Mexico, and Germany. This study uses up new visions for the economies of G-20 countries to sustain financial and economic growth by protecting the environment from pollution through its efficient national environmental policy, fiscal policy, and monetary policy. [ABSTRACT FROM AUTHOR]

Despite the considerable contributions of remittances to households and economic advancements, their environmental implications have received little attention in empirical research. This study was, therefore, conducted to help fill that gap, using Ghana as an evidence. In achieving the above goal, robust econometric methods that control for endogeneity, heteroscedasticity and serial correlation among others, were engaged for the analysis. From the results, the studied variables were first-differenced stationary and cointegrated in the long run. The elasticities of the predictors were explored via the FMOLS, DOLS and CCR estimators, and from the results, remittance inflows worsened the ecological quality in Ghana through high CO2 emissions. Also, population growth and energy utilization were not friendly to the country's environment; however, technological innovations improved environmental quality in the nation via low CO2 effusions. The VECM was employed to examine the path of causalities amidst the series, and from the results, there were bidirectional causalities between remittance inflows and CO2 emissions and between population growth and CO2 emanations. Also, a causation from energy utilization to CO2 effluents was discovered; however, there was no causality between technological innovations and CO2 exudates in the country. Based on the findings, it was recommended among others that, authorities should enact regulations to control the activities of polluting industries that are being financed by remittances. Also, households and individuals should minimize their use of remittances to finance carbon-intensive items, like automobiles and air-conditioners among others, that add to environmental pollution in the country. [ABSTRACT FROM AUTHOR]