Kaycea Campbell, Anupam Das, Leanora Brown and Adian McFarlane
It has been suggested that homicides in Jamaica are partly driven by conflicts among criminals over funds coming from international lottery scams; most of these funds are…
Abstract
Purpose
It has been suggested that homicides in Jamaica are partly driven by conflicts among criminals over funds coming from international lottery scams; most of these funds are channeled into the country via remittances. This study aims to determine the empirical relationship between remittances and homicides in Jamaica over the period 1985–2019.
Design/methodology/approach
The authors apply an error correction modelling framework while accounting for indicators of changes in socioeconomic conditions.
Findings
There are two. First, the authors find from impulse response analysis of the long-run dynamics that an increase in remittances is associated with an increase in homicides, and vice versa. Second, the authors find that there is bidirectional Granger causality between remittances and homicides in the short run.
Social implications
Two important implications are that policies should be strengthened to channel remittances to productive and legal investment opportunities and that greater efforts may be needed to stem the flow of funds coming from international lottery scamming and other illegal activities.
Originality/value
This is the first study that examines the dynamic relationship between remittances and homicides in Jamaica from a robust statistical perspective.
Details
Keywords
Adian McFarlane, Leanora Brown, Kaycea Campbell and Anupam Das
The purpose of this study is to determine whether causal asymmetries exist between energy consumption and three dimensions of financial development in Jamaica.
Abstract
Purpose
The purpose of this study is to determine whether causal asymmetries exist between energy consumption and three dimensions of financial development in Jamaica.
Design/methodology/approach
The authors use the non-linear autoregressive distributed lag method to identify the long- and short-run associations between energy consumption and different measures of financial development in Jamaica for the period 1980 to 2018.
Findings
There are two central findings. First, cointegrating relationships run from the dimensions of financial development to energy consumption. Second, the authors find asymmetries in these relationships. In the long run, asymmetries are such that rising levels of financial development have a neutral impact on energy consumption. By contrast, falling levels of financial development in the long run are associated with increases in energy consumption. In the short run, the authors find evidence of asymmetries only in changes in the overall level of financial development on energy consumption.
Practical implications
One practical implication is that for Jamaica to avoid some of the potential negative environmental consequences resulting from the positive impact on energy consumption arising from falling levels of financial development, a strong financial development policy will be important.
Social implications
There will be positive social impacts from financial development in the area of climate finance.
Originality/value
To the authors’ knowledge, this is the first study on Jamaica that examines the financial development–energy nexus. Further, the authors use relatively new and comprehensive measures of financial development.