Are immigrant remittance flows a source of capital for development?

There is a general presumption in the literature and among policymakers that immigrant remittances play the same role in economic development as foreign direct investment and other capital flows, but this is an open question. We develop a model of remittances based on the economics of the family that implies that remittances are not profit-driven, but are compensatory transfers, and should have a negative correlation with GDP growth. This is in contrast to the positive correlation of profit-driven capital flows with GDP growth. We test this implication of our model using a new panel data set on remittances and find a robust negative correlation between remittances and GDP growth. This indicates that remittances may not be intended to serve as a source of capital for economic development. © 2005 International Monetary Fund.

Diasporic Agents and Trans-Asian Flows in the Making of Asian Modernity: The Case of Thailand

How do our everyday actions shape and transform the world economy? This volume of original essays argues that current scholarship in international political economy (IPE) is too highly focused on powerful states and large international institutions. The contributors examine specific forms of â everyday' actions to demonstrate how small-scale actors and their decisions can shape the global economy. They analyse a range of seemingly ordinary or subordinate actors, including peasants, working classes and trade unions, lower-middle and middle classes, female migrant labourers and Eastern diasporas, and examine how they have agency in transforming their political and economic environments. This book offers a novel way of thinking about everyday forms of change across a range of topical issues including globalisation, international finance, trade, taxation, consumerism, labour rights and regimes. It will appeal to students and scholars of politics, international relations, political economy and sociology.

Do You Want to Hear the Bad News? The Value of Diagnostic Tests for Alzheimer's Disease.

OBJECTIVE: The diagnosis of Alzheimer's disease (AD) remains difficult. Lack of diagnostic certainty or possible distress related to a positive result from diagnostic testing could limit the application of new testing technologies. The objective of this paper is to quantify respondents' preferences for obtaining AD diagnostic tests and to estimate the perceived value of AD test information. METHODS: Discrete-choice experiment and contingent-valuation questions were administered to respondents in Germany and the United Kingdom. Choice data were analyzed by using random-parameters logit. A probit model characterized respondents who were not willing to take a test. RESULTS: Most respondents indicated a positive value for AD diagnostic test information. Respondents who indicated an interest in testing preferred brain imaging without the use of radioactive markers. German respondents had relatively lower money-equivalent values for test features compared with respondents in the United Kingdom. CONCLUSIONS: Respondents preferred less invasive diagnostic procedures and tests with higher accuracy and expressed a willingness to pay up to €700 to receive a less invasive test with the highest accuracy.