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The Macroeconomics of Remittances: The Case of Tajikistan
Author:
Mr. Alexei P Kireyev
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Series:
IMF Working Papers
Volume/Issue:
Volume 2006: Issue 002
Language:
English
Publication Date:
01 Jan 2006
DOI:
https://doi.org/10.5089/9781451862621.001
ISBN:
9781451862621
ISSN:
1018-5941
Pages:
26
Keywords:
WP; a number of high-remittance country; comparative advantage; remittance transfer; private sector; impact of remittance; labor migration; remittances to Tajikistan
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund