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Only remittances from Pakistanis working abroad have staved off disaster.
If migrants return not only remittances but knowledge of new markets and/or technologies, one may reasonably expect changes in spending patterns relative to non-migrants (Mendola 2008).
There are currently a few bitcoin-only remittance plays including Rebit in the Philippines.
But it is still a niche service, and it is not clear yet whether similar products will ultimately offer the mass market a better option than the status quo (including newer digital-only remittance providers) on security, speed, cost and ease-of-use.
An alternative to the two-stage approach is to assume that there is only one remittance decision in which the two stages occur simultaneously.
The popular tobit models address this censorship by assuming that there is only one remittance decision in which the decisions of whether and how much to remit occur simultaneously.
Across the sub-continent, whole areas are sustained only by remittances.
"Our research found that not only are remittances used only for immediate consumption, but they are not truly impacting the country socially.
Finally, if migrants have low wage prospects, it might be that investing only in remittances is the best option.
But remittances remain a worry.
A representative of the government's finance ministry has asked us to clarify that the new fees will not affect any transactions occurring via banks: they will apply only to money remittance businesses.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com