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"Millions of households in developing countries receive financial support from family members working overseas. How do migrant earnings affect origin-household investments? This paper examines Philippine households' responses to overseas members' economic shocks. Overseas Filipinos work in...
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In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply … interest rate is an example of the theory of the second best: although high interest rates introduce an inefficiency wedge into …
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