This article uses a time varying parameter model (TVP) to examine the macroeconomic determinants of cash remittances to Jamaica over the period January 1983 to April 2001. We anticipated a positive relationship between changes in remittances and foreign income. We find an investment component in...

This article examines the macroeconomic factors influencing the flow of remittances to selected English-speaking Caribbean countries. A balanced two way fixed effects (FE) model, a random effects (RE) model and the adjusted fully modified ordinary least squares (FMOLS) model (designed to correct...

Beyond Small Change examines the phenomenon of migrant remittances in hopes of contributing to international understanding of remittances, promoting better policies and practices in this area, and turning migrant workers' hard-won resources into a source of development for their homelands. This...

Beyond Small Change examines the phenomenon of migrant remittances in hopes of contributing to international understanding of remittances, promoting better policies and practices in this area, and turning migrant workers' hard-won resources into a source of development for their homelands. This...

This study develops proxies for each of Levine's (1997) five functions of the financial sector, and models the relationship between these functions and economic growth using methods that more accurately conform to theory, and which broaden our understanding of the mechanisms through which the...

The well-known Lewis model was inspired by one of the models which W. Arthur Lewis presented in 1954. Yet it fails to capture his basic insights, leaving generations of students with the misapprehension that he saw industrialization as a panacea. If we avoid the limitations of the neoclassical...

This study reviews four tax incidence studies, done in Jamaica since 1983, to determine the evolution of Jamaica’s tax burden. It identifies several limitations in the methodologies used that make it difficult to interpret the results without due care. For example, income bases were...

The Government of Jamaica imposes a wide range of taxes on income, consumption, and property. An important consideration in any reform of these taxes is their impact of the distribution of income, or their tax burden. This staff paper presents background and analysis of the burden of the...

The paper clarifies some issues raised in the basic model of balance of payments-constrained growth due to Thirlwall and later extensions by Thirlwall and Hussain and Moreno-Brid. The model is also adapted to include both interest payments and net transfers. The latter variable has become very...