Research Article
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Year 2020, Volume: 2 Issue: 1, 97 - 112, 31.01.2020

Abstract

References

  • Bruck, Tilman, Clotilde Mahé and Wim Naudé (2018). “Return Migration and Self-Employment: Evidence from Kyrgyzstan”. IZA Discussion Papers No. 11332. Central Bank of Russia (2015). Results of Survey of Individuals making/receiving cross-border remittances. Central Bank of Russia. Available: https://www.cbr.ru/Eng/statistics/CrossBorder/Results_Survey_2015_e.pdf. (Accessed: 22.05.2018).
  • Central Bank of Russia (2016). Cross Border Transfer of Individuals in 2016. Central Bank of Russia. Available: http://www.cbr.ru/Eng/statistics/CrossBorder/Cross-border_16_e.pdf, (Accessed: 22.05.2018).
  • Central Bank of Russia (2018). Cross-border Remittances via Money Transfer Operators in Breakdown by Countries. Central Bank of Russia. Available: http://www.cbr.ru/Eng/statistics/?PrtId=svs. (Accessed: 21.05.2018).
  • Central Bank of Russia (2018). Cross-border Remittances via Money Transfer Operators in Breakdown by Countries. The Central Bank of Russia. Available: https://www.cbr.ru/Eng/statistics/?PrtId=svs. (Accessed: 21.05.2018).
  • Constant, Amelie F., Olga Nottmeyer and Klaus F. Zimmerman (2012). “The Economics of Circular Migration. Institute for the Study of Labor”. Discussion Paper Series IZA DP No. 6940.
  • Graeme, Hugo (2013). “What we know about circular migration and enhanced mobility. Migration policy institute”. Migration Policy Institute Policy Brief No. 7.
  • Harris, John R. and Todaro Michael P. (1970). “Migration, unemployment and development: A Two-sector analysis”. American Economic Review 60(1): 126-142.
  • Hashimova, Umida (2015). What 2015 is promising for labor migrants from Central Asia. Central Asia Program George Washington University. Available: http://centralasiaprogram.org/archives/7380. (Accessed: 22.05.2018).
  • Kakhkharov, Jakhongir (2017). Remittances and household investment in entrepreneurship: The case of Uzbekistan. Griffith University Griffith Business School. Available: https://www120.secure.griffith.edu.au/research/file/c52288f9-fcc1-4f28-a385-593a9ec0314b/1/2017-03-remittances-and-household-investment-in-entrepreneurship-uzbekistan.pdf. (Accessed: 24.05.2018).
  • Matuzeviciute, Kristina and Mindaugas Butkus (2016). Remittances, Development Level, and Long-Run Economic Growth. Economies 4(4): 1-20.
  • Matveenko, Veronica E., Nataliya R. Mikhailovna and Dina N. Rubtsova (2017). “Migration in the Russian Federation Today”. Teorija in Praksa 54(6): 969-989.
  • Moscow Times (2014). Over 4 Million Immigrants Live in Russia Illegally, Official Says. The Moscow Times. Available: https://themoscowtimes.com/news/over-4-million-immigrants-live-in-russia-illegally-official-says-39675. (Accessed: 20.05.2018).
  • Mukomel, Vladimir (2013). “Integration of Migrants: Russian Federation”. CARIM-East Research Report 2013/02.
  • OECD (2015). Enhancing access to finance for SME development in Tajikistan. The Organization for Economic Co-operation and Development (OECD). Available: https://www.oecd.org/eurasia/competitiveness-programme/central-asia/EnhancingAccesstoFinanceforSMEDevelopmentinTajikistan.pdf. (Accessed: 24.05.2018).
  • Rosstat (2017). Russia in Figures. Federal State Statistics Service of Russia. Available: http://www.gks.ru/bgd/regl/b13_36/Main.htm. (Accessed: 21.05.2018).
  • Statista.com (2018). Average annual OPEC crude oil price from 1960 to 2018 (in U.S. dollars per barrel). Statista.com. Available: https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/. (Accessed: 21.05.2018).
  • United Nations (2017). The International Migration Report 2017. United Nations Department of Economic and Social Affairs. Available: https://www.un.org/development/desa/publications/international-migration-report-2017.html (Accessed: 19.05.2018).
  • World Bank (2016). Remittance Prices Worldwide. The World Bank. Available: https://remittanceprices.worldbank.org/sites/default/files/rpw_report_march_2016.pdf. (Accessed: 23.05.2018).
  • World Bank (2017). Migration and Remittances Factbook 2016. The World Bank. Available: http://www.worldbank.org/en/research/brief/migration-and-remittances. (Accessed: 19.05.2018).
  • World Bank (2018). GDP (current USD). The World Bank. Available: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD. (Accessed: 23.05.2018).
  • World Bank (2018). GDP per capita (current USD). The World Bank. Available: https://data.worldbank.org/indicator/NY.GDP.PCAP.CD. (Accessed: 23.05.2018).
  • World Bank (2018). Personal remittances, received (% of GDP). The World Bank. Available: https://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS. (Accessed: 25.05.2018).
  • World Bank (2018). Record high remittances to low-and middle-income countries in 2017. The World Bank. Available: http://www.worldbank.org/en/news/press-release/2018/04/23/record-high-remittances-to-low-and-middle-income-countries-in-2017. (Accessed: 25.05.2018).
  • World Bank (2018). Unemployment, total (% of total labor force) (modeled ILO estimate). The World Bank. Available: https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS. (Accessed: 23.05.2018).
  • World Bank Group (2016). Migration and Remittances Recent Developments and Outlook. Migration and Development Brief 26. World Bank Group KNOMAD. Available: from https://openknowledge.worldbank.org/bitstream/handle/10986/24012/9781464809132.pdf. (Accessed: 21.05.2018).

REMITTANCE INCOME AND MIGRANT ENTREPRENEURSHIP IN CENTRAL ASIA

Year 2020, Volume: 2 Issue: 1, 97 - 112, 31.01.2020

Abstract

For many Central Asian citizens labor migration has become a part of their lives mainly due to difficult economic condition in their hometown like high unemployment rate and low wages. In order to cover the economic needs of their families majority of the labor migrants send 30-50% of their earnings back home which in total becomes large sums comparing with their home country GDP. In 2017, Central Asian countries in total has received $5 billion remittance inflow in 2017 where the remittance share to GDP for Kyrgyzstan is 35% and for Tajikistan is 31% one of highest ratios in the world. The potential of remittance incomes on contributing the economic development in these countries has been widely discussed in literature. However, there is lack of information on turning this opportunity into reality part. This paper aims to analyze the recent remittance dynamics and their effect on the economic development in home country.

References

  • Bruck, Tilman, Clotilde Mahé and Wim Naudé (2018). “Return Migration and Self-Employment: Evidence from Kyrgyzstan”. IZA Discussion Papers No. 11332. Central Bank of Russia (2015). Results of Survey of Individuals making/receiving cross-border remittances. Central Bank of Russia. Available: https://www.cbr.ru/Eng/statistics/CrossBorder/Results_Survey_2015_e.pdf. (Accessed: 22.05.2018).
  • Central Bank of Russia (2016). Cross Border Transfer of Individuals in 2016. Central Bank of Russia. Available: http://www.cbr.ru/Eng/statistics/CrossBorder/Cross-border_16_e.pdf, (Accessed: 22.05.2018).
  • Central Bank of Russia (2018). Cross-border Remittances via Money Transfer Operators in Breakdown by Countries. Central Bank of Russia. Available: http://www.cbr.ru/Eng/statistics/?PrtId=svs. (Accessed: 21.05.2018).
  • Central Bank of Russia (2018). Cross-border Remittances via Money Transfer Operators in Breakdown by Countries. The Central Bank of Russia. Available: https://www.cbr.ru/Eng/statistics/?PrtId=svs. (Accessed: 21.05.2018).
  • Constant, Amelie F., Olga Nottmeyer and Klaus F. Zimmerman (2012). “The Economics of Circular Migration. Institute for the Study of Labor”. Discussion Paper Series IZA DP No. 6940.
  • Graeme, Hugo (2013). “What we know about circular migration and enhanced mobility. Migration policy institute”. Migration Policy Institute Policy Brief No. 7.
  • Harris, John R. and Todaro Michael P. (1970). “Migration, unemployment and development: A Two-sector analysis”. American Economic Review 60(1): 126-142.
  • Hashimova, Umida (2015). What 2015 is promising for labor migrants from Central Asia. Central Asia Program George Washington University. Available: http://centralasiaprogram.org/archives/7380. (Accessed: 22.05.2018).
  • Kakhkharov, Jakhongir (2017). Remittances and household investment in entrepreneurship: The case of Uzbekistan. Griffith University Griffith Business School. Available: https://www120.secure.griffith.edu.au/research/file/c52288f9-fcc1-4f28-a385-593a9ec0314b/1/2017-03-remittances-and-household-investment-in-entrepreneurship-uzbekistan.pdf. (Accessed: 24.05.2018).
  • Matuzeviciute, Kristina and Mindaugas Butkus (2016). Remittances, Development Level, and Long-Run Economic Growth. Economies 4(4): 1-20.
  • Matveenko, Veronica E., Nataliya R. Mikhailovna and Dina N. Rubtsova (2017). “Migration in the Russian Federation Today”. Teorija in Praksa 54(6): 969-989.
  • Moscow Times (2014). Over 4 Million Immigrants Live in Russia Illegally, Official Says. The Moscow Times. Available: https://themoscowtimes.com/news/over-4-million-immigrants-live-in-russia-illegally-official-says-39675. (Accessed: 20.05.2018).
  • Mukomel, Vladimir (2013). “Integration of Migrants: Russian Federation”. CARIM-East Research Report 2013/02.
  • OECD (2015). Enhancing access to finance for SME development in Tajikistan. The Organization for Economic Co-operation and Development (OECD). Available: https://www.oecd.org/eurasia/competitiveness-programme/central-asia/EnhancingAccesstoFinanceforSMEDevelopmentinTajikistan.pdf. (Accessed: 24.05.2018).
  • Rosstat (2017). Russia in Figures. Federal State Statistics Service of Russia. Available: http://www.gks.ru/bgd/regl/b13_36/Main.htm. (Accessed: 21.05.2018).
  • Statista.com (2018). Average annual OPEC crude oil price from 1960 to 2018 (in U.S. dollars per barrel). Statista.com. Available: https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/. (Accessed: 21.05.2018).
  • United Nations (2017). The International Migration Report 2017. United Nations Department of Economic and Social Affairs. Available: https://www.un.org/development/desa/publications/international-migration-report-2017.html (Accessed: 19.05.2018).
  • World Bank (2016). Remittance Prices Worldwide. The World Bank. Available: https://remittanceprices.worldbank.org/sites/default/files/rpw_report_march_2016.pdf. (Accessed: 23.05.2018).
  • World Bank (2017). Migration and Remittances Factbook 2016. The World Bank. Available: http://www.worldbank.org/en/research/brief/migration-and-remittances. (Accessed: 19.05.2018).
  • World Bank (2018). GDP (current USD). The World Bank. Available: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD. (Accessed: 23.05.2018).
  • World Bank (2018). GDP per capita (current USD). The World Bank. Available: https://data.worldbank.org/indicator/NY.GDP.PCAP.CD. (Accessed: 23.05.2018).
  • World Bank (2018). Personal remittances, received (% of GDP). The World Bank. Available: https://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS. (Accessed: 25.05.2018).
  • World Bank (2018). Record high remittances to low-and middle-income countries in 2017. The World Bank. Available: http://www.worldbank.org/en/news/press-release/2018/04/23/record-high-remittances-to-low-and-middle-income-countries-in-2017. (Accessed: 25.05.2018).
  • World Bank (2018). Unemployment, total (% of total labor force) (modeled ILO estimate). The World Bank. Available: https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS. (Accessed: 23.05.2018).
  • World Bank Group (2016). Migration and Remittances Recent Developments and Outlook. Migration and Development Brief 26. World Bank Group KNOMAD. Available: from https://openknowledge.worldbank.org/bitstream/handle/10986/24012/9781464809132.pdf. (Accessed: 21.05.2018).
There are 25 citations in total.

Details

Primary Language English
Journal Section Research Articles
Authors

Zhengizkhan Zhanaltay This is me

Publication Date January 31, 2020
Published in Issue Year 2020 Volume: 2 Issue: 1

Cite

APA Zhanaltay, Z. (2020). REMITTANCE INCOME AND MIGRANT ENTREPRENEURSHIP IN CENTRAL ASIA. Eurasian Research Journal, 2(1), 97-112.