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Empirical evidence on remittanceled economic growth in a subnational economy Kerala is lacking since the spurt in migration in the seventies. Such a relationship between state domestic product (SDP) and international remittances requires an understanding of the data generating process (DGP) of the time series. Augmented Dickey Fuller test and F test for joint restriction confirm that the DGP of SDP is a random walk with positive drift and that of remittances a deterministic linear trend added to a first order autoregression. Hence, conventional regression analysis is applied instead of cointegration analysis for establishing the relationship. Regression analysis is possible only if both series are stationary. Transformation of the two series in growth rate version makes both series stationary. A dynamic version of the growth equation in multivariate form is specified with time, T, as a proxy for all the omitted variables. Estimated equation shows that SDP growth rate depends on the growth rate of remittances and the proxy variable, T. Both variables are statistically significant and the standardised (beta) coefficients indicate remittances as the most influential factor in determining the economic growth of the regional economy.

Keywords: Feudal agrarian structure, SDP, Remittances, Data generating process, Migrationled growth.

JEL Classification: F22, F24, O40

The study examines the effect of debt overhang and macroeconomic adjustments on the economic growth of Nigeria. The debt overhang theory was adopted. The model built for the study proxy gross domestic product as the endogenous variable measuring economic growth as a function of debt overhang, inflation and exchange rate. Annual time series data was gathered from the Central Bank of Nigeria Statistical bulletin and Debt Management Office from 1970 to 2013. The econometric techniques of Ordinary Least Square (OLS), Augmented DickeyFuller (ADF) Unit Root test, Johansen Cointegration test and Error Correction Method (ECM) are employed in the empirical analysis. The cointegration test shows that a longrun equilibrium relationship exists among the variables. The ECM result indicates that there is both short and longrun equilibrium in the system. The coefficient of oneperiod lag residual is negative and insignificant which represent the longrun equilibrium. The coefficient of the ECM term is 0.274 that is, 27.4 per cent of the disequilibria of the previous period’s shock adjust back to the current period longrun equilibrium. Macroeconomic variables like exchange rate, inflation and Investment are a critical component in the growth of the Real GDP, while debt servicing and debt overhang contributes negatively to the economy and therefore recommends that borrowing should be reduced and used for the productive purpose to allow for immediate repayment and prevent inconveniently and disrupting macroeconomic adjustment at any point in time. Furthermore, to achieve a long term solution to the debt problem there must be the vigorous promotion of diversification that will provide sufficient fund which will prevent constant borrowing and promote growth and development. Also, the government should ensure economic and political stability and external debt should be acquired largely for economic reasons rather than social or political reasons.

Keywords: External Debt; Macroeconomic Adjustment; Economic Growth; Error Correction Model.

This paper tries to enquire does there exist any relation between number of deaths, and some economic variables that is the level of economic development, health infrastructure, inequality of income , number of physicians, hospital beds per million population, age 65 and older population (as % of total) etc using Tobit regression approach. This result reflects that people of high developed nations are either care less about government’s efforts to combat covid pandemic, or their immunity is less than the African or middle east Muslim nations or other less affected nations. Though this result may change with the changes of data, since covid death data is changing day by day and in this paper data used last three months back. This may be treated as the limitation of this study.

Keywords: Covid death, Tobit regression, Immunity

There are three sectors such as primary, secondary and tertiary sectors in the economy which have contributed to the GHGs emissions in the atmosphere. According to Lerner’s note (FAO 2012), Energy (25.9 %), residential and commercial building (19.4 %), forestry (17.4%), agriculture (13.5%), transport (13.1%), industry (7.9%), and waste and waste water (2.8%) emit GHGs in the atmosphere. Therefore, the land utilisation pattern in the district has been undergoing drastic changes during the last 30 years in Palakkad. Primary data is used to study the adaptation and mitigation policies practised by the selected sample farmers in the district. From the study it was found that adaptation policies are effective than the mitigation policies to minimise the impact of climate variability in Palakkad.

Keywords: Land utilisation Pattern, IPCC, Mitigation, Adaptation, Climate variability and climate vulnerability.

The large scale skilled international migration influences the labour market and economic development of the host countries. This paper examines the causal effect of net migration on the GDP, wages, and nativeborn and foreignborn unemployment in 20 OECD countries using panel data over the period 2000-2018 applying the panel fixed effects vector autoregression (VAR) method. The panel VAR results show that net migration in OECD countries depends significantly on its own lags. The employment rate in the host country is positively influenced by net migration, whereas the GDP and employment rate of host economies do not affect the net migration rate. While net migration is negatively related to the nativeborn and foreignborn unemployment rates, the foreignborn unemployment rate does not influence the net migration rate. The host country wages affect net migration positively, but the net migration rate has no effect on wages. Overall, international migration has a positive effect on the economy of the host country.

Keywords: Immigration, labour market, wages, unemployment, economic growth, panel VAR estimation

JEL classification: B23, C13, C22, C23, E24, J61

Intermediaries exist because they economize on the transaction and information costs. In the context of the mortgage loan market, expectations about future housing prices influence the lending behavior of intermediaries. This paper develops a model to analyze how changes in housing prices may lead to speculative lending by intermediaries by influencing the expectations of intermediaries about future housing prices (adaptive expectations) as a result of which they shift between prime and subprime loans market. Intermediaries with high house price expectations will serve the subprime borrowers as the expected return on lending to subprime borrowers is higher for them. These intermediaries mostly rely on high expected returns from housing, even if borrowers default on their loan repayments. Hence, as housing prices rise, lending in the subprime market increases at the cost of the prime market making the system vulnerable to instability.

Keywords: Financial Intermediaries, adaptive expectations, speculation, housing prices, subprime borrowers.