In the context of the ongoing current global economic downturn, mobilization of foreign exchange earnings has assumed considerable importance. By adopting an augmented Solow model approach, this paper examines the long-run growth effects of Fijis inward remittances during a threedecade period...

Tongas monetary authority, National Reserve Bank of Tonga (NRBT) is entrusted with the responsibility of managing Tongas monetary system and exchange rate stability. This paper undertakes an empirical study of monetary policies pursued by NRBT with specific focus on the transmission mechanism of...

Inward remittances have been a great support to Tongan economy. Aside from being a major source of foreign exchange earnings, they supplement domestic savings and real resources. This paper examines how remittance inflows in combination with increased financial development during a 28 year...

Amongst the 14 Pacific island countries, Vanuatu is unique in many respects. It has no exchange controls. Further, it allows full freedom for its citizens and resident expatriates alike to hold domestic bank deposits in any major currency of their choice. The country has adopted a fixed exchange...

There has been a general consensus among economists that while the long-run effects of money are felt only on prices with no impact on real variables, monetary policy changes do have important short-run effects on real variables. The objective of the paper is to investigate whether money has...