Kinship Remittances Are Thicker Than Water
A well-known medieval proverb alludes that blood is thicker than water. This saying is usually taken to mean that family relationships and loyalties are the strongest and most important ones. Even though inhumane cultures and unwholesome media impressions have done a lot to desecrate strong family values in modern times, this proverb retains potent practicalities. A vivid illustration can be seen in the trend of capital flows to developing countries. For many capital-poor economies, international capital injections, in forms of official development assistance (ODA), foreign direct investment (FDI), portfolio debt and equity flows, and remittances, are critical oils in the wheels of national development. In recognition of this, many low- and middle-income country governments, in their characteristic top-bottom approach, embark on intensive investment promotion campaigns as well as structural reforms to court the benevolence of aid donors. While such efforts may have yielded staggering