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- W2297939467 abstract "This paper employs Johansen’s model selection and maximum likelihood cointegration technique to analyze the relationship among workers’ remittances, kerb premium and resident FCAs for Pakistan during July 1993 to December 2001. The results suggest that these variables are cointegrated from July 1993 to April 1998. However, the relationship was jolted by the two-tier exchange rate regime, freezing of FCAs and subsequent tightening of foreign exchange regulations following the nuclear tests. In addition, the causal relationship is found to flow (i) from kerb premium to remittances from the Gulf and (ii) from remittances to resident FCAs prior to nuclear tests. After that, the causal relationships reverse for the Gulf and other region. The results also indicate that higher kerb premium has a detrimental effect on remittances. The findings of this paper have implications for the future economic reforms particularly in the area of the monetary, trade, exchange and payments reforms in Pakistan with special emphasis on enhancing remittances from expatriate Pakistanis." @default.
- W2297939467 created "2016-06-24" @default.
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- W2297939467 date "2003-04-01" @default.
- W2297939467 modified "2023-09-27" @default.
- W2297939467 title "Workers’ Remittances, Resident FCAs and Kerb Premium: a Cointegration Analysis" @default.
- W2297939467 hasPublicationYear "2003" @default.
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