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The impact of remittances on household consumption stability and economic growth is not quite clear. This paper attempts to reopen the debate on the relationship among these three variables. The current remittance literature suggests that a decrease in household consumption volatility, induced by remittances, automatically leads to economic growth. This paper challenges these arguments by stating that, under certain circumstances, there is no automatic relationship among remittances, household consumption stability and growth.

The authors approach the question from the perspective of emerging Central, Eastern and Southeastern European (CESEE) countries. The authors use the two-step system generalized method of moments (GMM) estimator with the Windmeijer (2005) finite-sample correction. To test the existence of the possible non-linear effects of remittances on household consumption stability and economic growth, the authors use threshold regressions.

The authors find that remittances significantly reduce household consumption volatility. They exhibit a consumption-smoothing effect on recipient households. This stabilizing effect happens not through the preventive role of remittances, but rather through their compensatory role. Remittances produce a weaker stabilizing effect on household consumption when the remittance to GDP ratio of the recipient country is above the estimated threshold level of 4.5%. The authors also find that there is a negatively significant and linear impact of remittances on growth. There is no evidence to suggest that remittances can foster productive investment and therefore promote economic growth in CESEE countries, which means that: (1) the remittances cannot be treated as a source of funds to invest in human and physical capital and (2) the remittances are compensatory rather than profit-oriented.

As far as the authors are aware, this is the first study that investigates the impact of remittances on both household consumption stability and economic growth simultaneously.

The present study aims to compare the effect of international paid remittances on financial development in three Gulf Cooperation Council (GCC) countries from 1985 to 2020.

The study applied the bound cointegration technique and the autoregressive distributed lag (ARDL) method for long- and short-run estimations as well as diagnostic tests to increase robustness.

The ARDL long-run results showed that international paid remittances had a significant negative effect on financial development in Oman and Saudi Arabia but an insignificant negative effect in Bahrain. The error correction model for the short run of the ARDL slowdown model showed that international paid remittances had a significant positive effect on financial development in Oman, Bahrain, and Saudi Arabia.

Few studies have examined remittance outflows from GCC countries, which are enriched by oil wealth and located in one of the most stable geographical areas in the world. The findings from this study can help policymakers understand how to enable remittances and investments in order to establish regulations that will preserve remittance inflows and meet target services.

The purpose of this study is to propose an integrated approach to diverse and convoluted types of consumption. The new theoretical framework represents composite types of tangible and intangible consumption contributing to consumer life satisfaction (LS) in EMs.

A field study conducted in Brazil surveyed real-world consumers belonging to various social and income groups. Data reflecting LS derived from consumption were analyzed using PLS methodology.

Empirical tests indicated that experiential-utilitarian, experiential-hedonic and material-utilitarian consumption types positively affect EM consumer LS. An interesting and somewhat surprising outcome is an insignificant effect of material-hedonic consumption. The strength of LS correlation with each type of consumption differs and partial effects also depend on household income of EM consumers.

Although reasons exist to expect the general validity of the suggested theoretical framework across many markets, its scope of empirical testing needs to be expanded beyond a single emerging market, even so large as Brazil.

The new taxonomy can help marketing practitioners better understand the main sources of LS stemming from each type of consumption to customize marketing mix and more effectively communicate to EM consumers.

In spite of the scope limited to Brazil, this study shall help policy-makers and NGOs design public goods and services, thereby significantly increasing consumer LS and improve living conditions in EMs.

A systemic approach contributes to the body of marketing theory by replacing the dichotomic classifications of consumer LS with a clear conceptualization of all types of consumption that are integrated into a holistic framework.

This paper investigates the relationship between remittances, institutional quality and investment in Sub-Saharan African (SSA) countries using data from 2004 to 2018.

The two-stage least squares (2SLS) estimator is the main methodology used, while the system generalized method of moments (Sys-GMM) technique is employed to test the robustness of the results.

The results show a positive and significant impact of remittances on investment in SSA. The findings further reveal a substitutional linkage between remittances and institutions in promoting investment. In essence, remittances serve as investment capital in countries with poor institutions. The results also show that the marginal significance of remittances as a source of funds for investment decreases in countries with well-developed institutions.

The sample excludes some of the SSA countries due to the unavailability of data.

In the face of current institutional weaknesses, there is a need for SSA countries to prioritize policies that encourage the effective use of remittances for business activities. Furthermore, SSA countries must improve their economic freedom and democratic practices by reducing government size, protecting property rights, and promoting respect for political and civil rights.

This is the first study to analyze the relationship between remittances, institutional quality and investment in SSA. It also provides a novel framework for future research on the remittance–investment nexus.

The purpose of this paper is to examine the effect of digital financial innovation on financial depth and economic growth in Kenya.

The study utilized autoregressive distributed lag (ARDL) model, which is preferable over other time series methods as the model allows application of co-integration tests to time series with different integration orders and is flexible to the sample size including small and finite.

The main findings of this paper are as follows: first, there is evidence of a positive relationship between digital financial innovation and financial depth with the strongest impact emanating from Internet usage and mobile financial services and the lowest impact from bank branches; second, the results reveal a significant positive impact of financial depth on economic growth consistent with the supply-leading finance theory.

The results of the study imply a need for investment in technology-enabling infrastructure for digital financial services (DFS) and a redesign of strategies to avoid further financial exclusion of low-income earners due to the unaffordability of digital devices and financial and digital illiteracy.

The study is original and important for policymakers as the study provides insights on the components of financial innovation that are growth-enhancing in Kenya, considering that some aspects of innovation can be growth-retarding as was demonstrated during the global financial crisis.

On the one hand, this paper is to further understand the residents' differentiated power consumption behaviors and tap the residential family characteristics labels from the perspective of electricity stability. On the other hand, this paper is to address the problem of lack of causal relationship in the existing research on the association analysis of residential electricity consumption behavior and basic information data.

First, the density-based spatial clustering of applications with noise method is used to extract the typical daily load curve of residents. Second, the degree of electricity consumption stability is described from three perspectives: daily minimum load rate, daily load rate and daily load fluctuation rate, and is evaluated comprehensively using the entropy weight method. Finally, residential customer labels are constructed from sociological characteristics, residential characteristics and energy use attitudes, and the enhanced FP-growth algorithm is employed to investigate any potential links between each factor and the stability of electricity consumption.

Compared with the original FP-growth algorithm, the improved algorithm can realize the excavation of rules containing specific attribute labels, which improves the excavation efficiency. In terms of factors influencing electricity stability, characteristics such as a large number of family members, being well employed, having children in the household and newer dwelling labels may all lead to poorer electricity stability, but residents' attitudes toward energy use and dwelling type are not significantly associated with electricity stability.

This paper aims to uncover household socioeconomic traits that influence the stability of home electricity use and to shed light on the intricate connections between them. Firstly, in this article, from the perspective of electricity stability, the characteristics of the power consumption of residents' users are refined. And the authors use the entropy weight method to comprehensively evaluate the stability of electricity usage. Secondly, the labels of residential users' household characteristics are screened and organized. Finally, the improved FP-growth algorithm is used to mine the residential household characteristic labels that are strongly associated with electricity consumption stability.

1. The stability of electricity consumption is important to the stable operation of the grid.

2. An improved FP-growth algorithm is employed to explore the influencing factors.

3. The improved algorithm enables the mining of rules containing specific attribute labels.

4. Residents' attitudes toward energy use are largely unrelated to the stability of electricity use.

The stability of electricity consumption is important to the stable operation of the grid.

An improved FP-growth algorithm is employed to explore the influencing factors.

The improved algorithm enables the mining of rules containing specific attribute labels.

Residents' attitudes toward energy use are largely unrelated to the stability of electricity use.

The purpose of this study is to explore the impact of household leverage on consumption in Denmark during the Great Depression in the 1930s.

A range of consumption functions are estimated on the basis of household-level data from the Expenditure and Saving Survey of 1931.

The estimations show significant negative marginal effects of various measures of leverage on homeowners’ non-durable consumption. The magnitude of the estimated effects suggests that leverage contributed significantly to the economic downturn during the Great Depression by depressing consumer spending of homeowners.

Gross debt levels of homeowners are not only of direct importance for financial stability but also have implications for macroeconomic stability, which again might affect the stability of the financial system. These findings seem to be in line with the focus on household leverage in the macroprudential oversight performed by regulators and central banks in many countries.

This paper is the first study of the leverage channel in the private consumption function using household micro data from the Great Depression.

Empirical evidence shows that banking development has a significant impact on macro-level economic growth through the finance-growth nexus and also highlights the prominent effect of development on local economy and household welfare, particularly in developing countries with restricted access to financial systems. The authors investigated the role of local banking development in affecting household welfare in Thailand which is a modest degree of financial access compare to other countries. The authors focus on the development of the banking sector in four dimensions, including financial depth, financial stability, financial efficiency and financial inclusion, and its impact on household welfare using the generalized method of moments approach to address the endogeneity problem. The authors employ biennial household welfare data from the National Statistical Office survey from 2007 to 2019 which covers all provinces in Thailand. The findings suggest that each type of banking development significantly affects household income and consumption in Thailand, although in different ways. Financial depth decreases income and consumption expenditure, while financial inclusion increases income and consumption expenditure (level effect). However, there are insignificant impacts on volatility of household income and consumption (volatility effect). Our findings prove that the implementation of policies to promote banking development either promote or decrease household welfare. This study can provide insight on policy impact and assist policymakers in considering the adoption of banking development policies to promote growth of the local economy, while at the same time aiming to reduce welfare inequality.

We make use of rich microdata from the Belgian MEqIn survey, which contains detailed information on individual consumption, public consumption inside households, and time use. We explain the observed household behavior by means of a collective model that integrates marriage market restrictions on intrahousehold allocation patterns. We adopt a revealed preference approach that abstains from any functional form assumptions on individual utility functions or intrahousehold decision processes. This allows us to (set) identify the sharing rule, which governs the intrahousehold sharing of time and money, and to quantify economies of scale within households. We use these results to conduct a robust individual welfare and inequality analysis, hereby highlighting the important role of detailed consumption and time use data.