Estimating remittances in the former Soviet Union: Methodological complexities and potential solutions

Jakhongir Kakhkharov, Alexandr Akimov

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

6 Citations (Scopus)

Abstract

Remittances in the former Soviet Union have increased rapidly over the past decade. In some countries of the former Soviet Union, remittances have reached staggering levels. For example, in Armenia, Kyrgyzstan, Moldova, Tajikistan, and Uzbekistan remittances now account for over 10% of GDP, with Tajikistan leading the pack with annual remittances of approximately 40% of GDP. Remittances in this group of economies now exceed foreign direct investment and foreign assistance. Because this rapid rise in remittances is a relatively recent trend and obtaining reliable data is difficult, this area of research has been underexplored. The aim of this paper is to provide a comprehensive review of existing remittance measurement methodologies. Moreover, we propose practical methods to adjust the Central Bank of Russia data to derive more accurate remittances estimates in selected countries of the former Soviet Union. These selected economies are major recipients of remittances among transition economies and account for as much as 10% of remittances worldwide. There have been attempts to provide this type of estimation in individual countries; however, there have been no studies, to our knowledge, that propose a general methodology for the region.

Original languageEnglish
Title of host publicationNeo-Transitional Economics
EditorsRustam Jamilov, Yusaf H. Akbar
PublisherEmerald Group Publishing Ltd.
Pages337-362
Number of pages26
ISBN (Print)978-1-78441-682-9
DOIs
Publication statusPublished - 2015
Externally publishedYes

Publication series

NameInternational Finance Review
Volume16
ISSN (Print)1569-3767

Keywords

  • international migration
  • labor migration
  • macroeconomic data
  • Remittances

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