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The Macroeconomics of Remittances; The Case of Tajikistan

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  • Alexei P Kireyev

Abstract

The paper seeks to assess the macroeconomic implications of large-scale inward remittances for a small open economy. By including remittances in several standard models, the paper concludes that the overall macroeconomic impact of remittances is likely to be ambiguous. The impact depends on the structural characteristics of the receiving country, in particular its consumption and investment patterns, and its capacity to manage large financial inflows. As data deficiencies and methodological problems associated with remittances preclude crosscountry empirical investigation, the paper illustrates these findings with data on Tajikistan, where remittances as a share of GDP are among the highest in the world. The paper also evaluates the pros and cons of remittances in a broader political economy context.

Suggested Citation

  • Alexei P Kireyev, 2006. "The Macroeconomics of Remittances; The Case of Tajikistan," IMF Working Papers 06/2, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:06/2
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    References listed on IDEAS

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    1. Solimano, Andres, 2003. "Remittances by Emigrants: Issues and Evidence," WIDER Working Paper Series 089, World Institute for Development Economic Research (UNU-WIDER).
    2. Solimano, Andrés, 2003. "Remittances by emigrants: issues and evidence," Macroeconomía del Desarrollo 26, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005. "Are Immigrant Remittance Flows a Source of Capital for Development?," IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 55-81, April.
    4. Rapoport, Hillel & Docquier, Frederic, 2006. "The Economics of Migrants' Remittances," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    5. Jacques Bouhga-Hagbe, 2004. "A Theory of Workers' Remittances with An Application to Morocco," IMF Working Papers 04/194, International Monetary Fund.
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    Citations

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    Cited by:

    1. Hussain, Mushahid, 2013. "Migrants’ Remittances and State Behaviour in the Neoliberal Era," EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey 227, Ekonomik Yaklasim Association.
    2. de Haas, Hein, 2009. "Mobility and Human Development," MPRA Paper 19176, University Library of Munich, Germany.
    3. Hrushikesh Mallick, 2008. "Do remittances impact the economy? Some empirical evidences from a developing economy," Centre for Development Studies, Trivendrum Working Papers 407, Centre for Development Studies, Trivendrum, India.
    4. Natalie Zotova & Jeffrey H. Cohen, 2016. "Remittances and their social meaning in Tajikistan," Remittances Review, Transnational Press London, UK, vol. 1(1), pages 5-16, October.
    5. Patricia Justino & Olga Shemyakina, 2012. "Remittances and labor supply in post-conflict Tajikistan," IZA Journal of Labor & Development, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 1(1), pages 1-28, December.
    6. Jouini, Jamel, 2015. "Economic growth and remittances in Tunisia: Bi-directional causal links," Journal of Policy Modeling, Elsevier, vol. 37(2), pages 355-373.
    7. Richard Pomfret, 2009. "Central Asia after Two Decades of Independence," School of Economics Working Papers 2009-32, University of Adelaide, School of Economics.
    8. International Monetary Fund, 2006. "Russian Federation; Selected Issues," IMF Staff Country Reports 06/430, International Monetary Fund.
    9. Safaa Tabit & Charaf-Eddine Moussir, 2017. "Impact Of Migrants' Remittances On Economic Growth: Case Of Morocco," Post-Print hal-01449502, HAL.
    10. Barbara Dietz, 2010. "Migration and Remittances in Macedonia : A Review," Working Papers 281, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    11. Tigran A. Melkonyan & David A. Grigorian, 2008. "Microeconomic Implications of Remittances in an Overlapping Generations Model with Altruism and Self-Interest," IMF Working Papers 08/19, International Monetary Fund.
    12. Okayo Alphonsine COULIBALY, 2016. "Les Motivations Microéconomiques Des Transferts De Fonds Au Burkina Faso : La Culture Est-Elle Déterminante ?," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 43, pages 187-208.
    13. Ivakhnyuk, Irina, 2009. "Russian Migration Policy and Its Impact on Human Development," MPRA Paper 19196, University Library of Munich, Germany.
    14. Sami Ben Mim (ERUDITE) & Fatma Mabrouk (GREThA, CNRS, UMR 5113), 2011. "Remittances and economic growth: what channels of transmission? (In French)," Cahiers du GREThA 2011-28, Groupe de Recherche en Economie Théorique et Appliquée.
    15. Iuliia Kuntsevych, 2017. "Remittances in Ukraine Using Household Data," CERGE-EI Working Papers wp590, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    16. Kalaj, Ermira Hoxha, 2010. "Remittances and Human Capital Investment: Evidence from Albania," MPRA Paper 49210, University Library of Munich, Germany.
    17. Meurs, Mieke & Slavchevska, Vanya, 2014. "Doing it all: Women’s employment and reproductive work in Tajikistan," Journal of Comparative Economics, Elsevier, vol. 42(3), pages 786-803.
    18. repec:wsi:serxxx:v:57:y:2012:i:01:n:s021759081250004x is not listed on IDEAS
    19. World Bank Group, 2015. "Labor Migration and Welfare in the Kyrgyz Republic (2008-2013)," World Bank Other Operational Studies 22960, The World Bank.
    20. Hrushikesh Mallick, 2009. "Do Remittances Impact the Economy? Some Empirical Evidences from A Developing Economy," Working Papers id:2199, eSocialSciences.
    21. Cristian ÎNCALŢĂRĂU & Liviu-George MAHA, 2012. "The impact of remittances on consumption and investment in Romania," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 3, pages 61-86, December.
    22. Iuliia Kuntsevych, 2017. "Remittances, Spending and Political Instability in Ukraine," CERGE-EI Working Papers wp583, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    23. repec:ebl:ecbull:eb-17-00152 is not listed on IDEAS
    24. Sophia Kan, 2016. "Improving health in Tajikistan: remittances trump other income," Courant Research Centre: Poverty, Equity and Growth - Discussion Papers 206, Courant Research Centre PEG.

    More about this item

    Keywords

    Labor mobility; Remittances; Tajikistan; Workers remittances; international migration; migration; banking; banking system; impact of remittances; Open Economy Macroeconomics;

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