The World City Hypothesis

Do remittances promote financial development

This paper examines the informal economy and its relationship to commonly held theories of industrial development. Although these theories stem from very different intellectual traditions, their general assumption has been that widespread informal economic activities are primarily a feature of Third World economies, in which they function as a refuge from destitution; such activities are presumably destined to desappear with the advance of modern, industry-led growth. Evidence is presented that indicates that these assumptions, including the identification of informality with conditions in the less developed countries, are wrong. Alternative interpretations of the resilience of these activities in Third World countries, despite rapid industrialization, and their continuity and apparent revival in the advanced economies and discussed.

https://www.jstor.org/stable/pdfplus/2779672.pdf

Making it Underground: Comparative Material on the Informal Sector in Western Market Economies

An extensive body of research has documented the relation between social class, as indexed by socioeconomic status (SES) and subjective social status (SSS), and a host of outcomes, including physical and mental health, academic achievement, and educational attainment. Yet, there remains ambiguity regarding how best to conceptualize and measure social class. This article clarifies definitional and measurement issues related to the assessment of SES and SSS, addresses their importance and relevance for psychological research, and reviews best practices with regard to measurement and assessment. We conclude by discussing the integration of social class with other markers of social position to promote the advancement of psychological science.

Best Practices in Conceptualizing and Measuring Social Class in Psychological Research

Workers' remittances to developing countries have become the second largest type of flows after foreign direct investment. The authors use data on workers' remittance flows to 99 developing countries from 1975-2003 to study the impact of remittances on financial sector development. In particular, they examine whether remittances contribute to increasing the aggregate level of deposits and credit intermediated by the local banking sector. This is an important question considering the extensive literature that has documented the growth-enhancing and poverty-reducing effects of financial development. The findings provide strong support for the notion that remittances promote financial development in developing countries.

Do Workers' Remittances Promote Financial Development?

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 book draws on survey evidence, detailed analysis of case studies, and comparisons across countries and regions, and paints a picture of remittance flows that cross borders and sometimes generations to transform lives. While the emphasis is on Latin America and the Caribbean, various chapters also examine Europe, the Middle East, and Asia.

Beyond Small Change: Making Migrant Remittances Count

Latin American experts demonstrate how market-friendly measures in key policy areas can promote greater equity and efficiency. By identifying win-win strategies, the authors challenge the conventional wisdom that there is always a tradeoff between these two objectives. This volume shows how reforms can address the urgent issue of inequality without undermining efficient growth.

Beyond Tradeoffs: Market Reforms and Equitable Growth in Latin America

Using the seminal work of development economist Dr Raul Prebisch, the author attempts to reconcile economic efficiency with social justice. He uses this to trace the principal stages of Latin American development and thereby chart a course for the future.

Enrique V. Iglesias

Papers

Beyond Small Change: Making Migrant Remittances Count

Beyond Tradeoffs: Market Reforms and Equitable Growth in Latin America

Reflections on Economic Development: Toward a New Latin American Consensus

Foreign direct investment versus other flows to Latin America

Reflexiones sobre el desarrollo económico : hacia un nuevo consenso latinoamericano