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Full-Text Articles in International Economics
Remittances Without Borders, Tan Swee Liang, S. N. Venkataramanan, Anil Kishora
Remittances Without Borders, Tan Swee Liang, S. N. Venkataramanan, Anil Kishora
Research Collection School Of Economics
A Pan-Asian Mobile Remittance Platform might just be the next big disruption in global remittances. One out of every 28 people lives in a country that they were not born in. As migrants, they are estimated by The World Bank to send home US$636 billion in 2017, with three-quarters remitted to developing countries. These remittances form a significant percentage of the Gross Domestic Product (GDP) of many of these developing countries. Given their magnitude and contribution to national economies, even a small reduction in remittance cost adds billions to these local economies. Mobile-to-mobile cross border remittances have recently shown that …
International Transmission Of Interest Rates And The Open Economy Trilemma In Asia, Hwee Kwan Chow
International Transmission Of Interest Rates And The Open Economy Trilemma In Asia, Hwee Kwan Chow
Research Collection School Of Economics
There has recently been much discussion on the relevance of the open economy trilemma in the context of deepening financial integration of countries across the world (see for instance, Rey (2013) and Devereux and Yetman (2014)). The open economy trilemma is an important issue for the countries in Asia not least because their financial systems are small and exchange rate stability is crucial to their economic growth. This paper investigates whether the economies in Asia are still bound by the "impossible trinity" by examining the interest rate transmission from the US to the region before and after the onset of …