Caribbean countries invest a lot of economic resources in higher education. The rationale for investing public funds in education follows from the public and private expected returns: boost country-level growth and welfare, and increase productivity and earnings. However, if beneficiaries of public education migrate, these public and private returns are received by the host … [Read more...] about Brain Drain: Are we investing in the ‘right’ skills to keep our talent?
The Caribbean diaspora is huge and members tend to send significant amount of remittances back to the region to help relatives and to invest in property and family businesses. It is estimated that Caribbean migrants number 4,116,000 in the United States (1.2% of the total population and remitted approximately US$5 billion in 2013. Other countries with large populations of … [Read more...] about Caribbean Diaspora: How Can They Finance Development in the Region?
Photo courtesy of Wikimedia Commons, Author, Hagainativ Not too long ago, news started to emerge that Jamaican banks would sever relations with cambios as they created problems with their international correspondent banks. (To transfer money abroad, banks need partner banks in that country, these are called correspondent banks.) This is a severe problem as in today’s modern, … [Read more...] about De-Risking and Correspondent Banking – A Caribbean Example
by Guest bloggers, René Osorio and Steve Brito Photo courtesy of Wikimedia Commons, User Dantadd It is difficult to find any Mexican who does not have friends or family living in other countries. And one of the key features shared by Mexicans who live in the United States is that they send billions of dollars to their native country every year. Remittances received in Mexico … [Read more...] about The relationship between remittances and crime in Mexico
This policy brief answers three main questions for the Jamaican economy: (a) Do remittances act as a safety net during negative health shocks? (b) Are remittances subject to moral hazard by receivers? (c) How does formal health insurance interact with remittances as a safety net during adverse health episodes? Evidence suggests that remittances offer full protection against … [Read more...] about Remittances as a Safety Net in Jamaica