The Fiji National University (FNU) proudly congratulates Shasnil Chand on his Doctor of Philosophy (PhD) thesis being recognised by the University of the South Pacific (USP) Medal and Prize Research Committee with the Outstanding Thesis Award on Tuesday, 14 April 2026.
Chand is a Lecturer in the Department of Economics and Finance at FNU’s College of Business, Hospitality and Tourism Studies (CBHTS). His thesis, titled “Remittance Inflows Effect on Sustainable Economic Development, Inflation and Exchange Rate: Evidence from Developing and Emerging Economies,” examines how financial inflows contribute to long-term development while also presenting macroeconomic challenges such as inflationary pressure and exchange rate appreciation.
“My PhD research was inspired by the growing importance of remittance inflows in developing and emerging economies, particularly in countries like Fiji where remittances play a vital role in supporting households and national economic stability. Over the years, I observed that while remittances are often recognised as a major source of foreign income, there was limited comprehensive research examining their broader macroeconomic effects beyond household welfare,” Chand explained.
“This motivated me to investigate how remittance inflows influence sustainable economic development, inflation, and exchange rate movements across developing and emerging economies. The study provides evidence that can help policymakers better harness remittances for economic resilience and sustainable growth.”
He highlighted the research analysed data from over 50 countries between 1996 and 2021, assessing both the benefits and macroeconomic implications of remittance inflows.
“Using data from more than 50 countries across 1996–2021, I analysed whether remittances contribute positively to national development while also assessing their potential macroeconomic side effects. The study found that remittance inflows significantly promote sustainable economic development, particularly in countries where the cost of sending remittances is low,” he said.
Mr Chand noted that the study contributes new empirical evidence to the field of economics and finance, particularly relevant for Fiji and Pacific Island countries where remittances remain a major source of external income.
“While remittances are often viewed mainly as household support, my study demonstrates their wider economic implications, including their effects on inflation, exchange rates, and long-term development outcomes,” he said.
Reflecting on his PhD journey, Mr Chand acknowledged the challenges of balancing academic demands with family responsibilities, as well as managing the technical complexity of large datasets and advanced econometric methods.
“Although I was on full-time study leave, pursuing a PhD required long hours of data analysis, writing, and revisions, which often meant sacrificing personal time. Another major challenge was the technical complexity of the research itself. Working with large multi-country datasets and applying advanced econometric methods required patience, persistence, and continuous learning.”
He credited his success to discipline, perseverance, and strong family support saying “While I was a full-time PhD student on study leave, my wife was working and carrying significant family responsibilities, and her strength and encouragement were essential in helping me stay focused on my studies. My daughter was a constant source of inspiration, reminding me every day of the purpose behind my hard work.”
Mr Chand said the recognition affirms the quality and relevance of his research and will further shape his academic and professional contributions.
“I plan to incorporate empirical findings on remittance inflows, inflation, exchange rates, and sustainable development to help students understand how macroeconomic relationships operate in real-world developing and Pacific Island contexts. In research and engagement, I aim to extend this work further by focusing on Pacific economies, including Fiji, to produce more policy-relevant evidence,” he added.
ENDS