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• Open Access Article

  15 Pages Download PDF: Workers’ Remittances and Socio-Economic Well-Being in Top Ten Remittances Receiving Developing Countries: The Role of Financial Development

  Workers’ Remittances and Socio-Economic Well-Being in Top Ten Remittances Receiving Developing Countries: The Role of Financial Development

  Mahnaz Muhammad Ali, Rozina Sadiq, Muhammad Javed

  2024-06-14 https://doi.org/10.36923/jcmi.v5i1.570

  The present study contributes empirical evidence to the impact of remittances on the socio-economic well-being of recipient nations, particularly through the enhancement of their Human Development Index (HDI) rankings. Utilizing a panel dataset comprising the top ten remittance-receiving countries over the period from 1990 to 2020, the research endeavors to offer a comprehensive analysis of the relationship between remittance inflows and HDI metrics. This investigation delves into the nuanced dimensions of HDI, namely health, education, and income per capita, to discern the specific effects of remittances on each component. The study employs the generalized method of moments (GMM) technique to mitigate potential endogeneity concerns inherent in the relationship between remittances and financial development. The findings of this empirical inquiry suggest that remittances wield a discernible influence on augmenting human well-being, particularly by fostering improvements in health and education outcomes. Additionally, the study identifies a constructive role for financial development in bolstering HDI indicators. In light of these findings, it is recommended that policymakers formulate tailored strategies aimed at facilitating remittance flows, thereby affording migrants enhanced access to robust financial systems.

  pp. 1-15 Abstract views:359 Downloads:99

• Open Access Article

  8 Pages Download PDF: From Income to Inclusion: A Comparative Human Capabilities Index for South Asian Economic Development

  From Income to Inclusion: A Comparative Human Capabilities Index for South Asian Economic Development

  Zaeema Farooq, Shaista Raza, Aqsa Hameed, Iqra Mehmood, Sidra Bano

  2025-06-25 https://doi.org/10.36923/jcmi.v6i1.641

  A new Comparative Human Capabilities Index (CHCI), which goes beyond conventional measures like GDP or HDI, is presented in this study to evaluate the economic progress of South Asian nations. GDP per capita, GDP per person employed, trade as a percentage of GDP, life expectancy, secondary school enrollment, and GDP per capita are the six main variables that make up the index, which is based on Amartya Sen's capability approach. Data were collected from the World Bank for eight nations between 2001 and 2015: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. In order to ensure comparability across variables, the CHCI was built using equal weighting and min-max normalization. The findings indicate that while Bangladesh and India have made notable progress over time, the Maldives and Sri Lanka continue to rank first in terms of human skills. Despite beginning with lower levels, Afghanistan and Nepal showed signs of improvement over time. As an alternative to more conventional indices like the Human progress Index (HDI), the index offers a more human-centered and inclusive lens through which to view the region's economic progress. This strategy emphasizes how crucial it is to make investments in productivity, health, and education in order to achieve long-term, fair development.

  pp. 111-118 Abstract views:187 Downloads:87