Remittances by migrants to their countries of origin constitute the largest source of external finance for developing countries after foreign direct investment . To shed light on this important fact, in this paper we consider a model of micro-foundations of the links between remittances finance...

We consider a growth model with education, externalities and a cultural norm . We show that endogenous emergence of this cultural belief may lead to increasing the stock of human capital and accelerating national growth.The mechanism of this internalization is based on the existence of...

This paper aims to model theoretically the fundamental links between financial development, foreign direct investment and economic development. In particular, we show that the entry of foreign capital flows can support an endogenous economic growth path of the host country. Indeed, we give the...

We integrate a general social norm function which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight on capital as opposed to consumption will experience fast growth.Our results are consistent...