Archive for January 16th, 2019

Economics helps explain why suicide is more common among Protestants…

January 16, 2019

Profs Sascha Becker (Univ of Warwick) and Ludger Woessmann (Univ of Munich) in this piece:

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Brexit: Blame it on the 2008 banking crisis

January 16, 2019

Prof Nicholas Crafts of Univ of Warwick:

Brexit in 2019 and the banking crisis in 2007 to 2009 are usually seen as unrelated events. This column argues that they are in fact closely connected. The austerity policies embarked on in response to the fiscal damage resulting from the banking crisis triggered the protest votes of left-behind voters, which at the margin allowed Leave to win the referendum vote. The implication is that the economic costs of the banking crisis are much larger than is usually supposed.

 

International remittance through block chain technology: Case of Pakistan

January 16, 2019

Interesting to note that State Bank of Pakistan (their central bank) is promoting international remittances to Pakistan through blockchain technology.

SBP Governor Tariq Bajwa remarked on the inaugural ceremony:

1. It is indeed very exciting for me to launch this initiative by Telenor Pakistan that would enable the transfer of cross border remittances using BlockChain
technology in near real time. This would bring convenience and efficiency for both remitters and their beneficiaries. For this, I would like to congratulate
ANT Financial, Telenor Microfinance Bank and other key stakeholders such as Standard Chartered Bank for being the pioneers in the adoption of new
technologies for providing a payment solution, which many other market players have only been thinking of. This puts Pakistan on the map of few
countries in the world that have launched International Remittance using Block Chain Technology.

2. Though this initiative, Valyou in Malaysia and Easypaisa in Pakistan will facilitate cross-border remittance service through e-wallet platforms, which is
based on block chain technology developed by Alipay, a subsidiary of ANT Financial. This block chain based wallet-to-wallet remittance service provides
instant and secure way for Pakistani emigrants to transfer money from Malaysia to Pakistan and will significantly improve the current amount of USD
1 billion received from Malaysia in home remittances.

Remittances play a crucial role in Pakistan: and are equal to 6% of GDP:

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