REMITTANCES AND ECONOMIC DEVELOPMENT IN THE REPUBLIC OF TAJIKISTAN: IMPACT ON MACROECONOMIC STABILITY
Keywords:
migration, remittances, Tajikistan, macroeconomic stability, state debt, payment balance, financial tools, development.Abstract
This article analyzes the growing role of migrants’ remittances in the new reality created by the significant changes in the functioning of the global and national economy. It attempts to show that economic development based on the use of primarily recurring external financial sources pegged to indicators of threshold values of the external debt under formation and indicators for retaining macroeconomic stability is creating significant risks.
The author examines the dynamics of the volume of migrants’ remittances in this respect, as well as their importance for Tajikistan’s economic and social development, particularly in ensuring the country’s macroeconomic stability. This is shown in the drawing up of a new National Mid-Term Development Strategy.
The article also states the need for taking efficient steps to transform remittances into investment and financial assets; in the near future, they should be used to create the country’s production potential. This will create conditions not only for making the Tajik economy less dependent on external factors, but also allow it to gain additional advantages from its accession to the WTO.
Downloads
References
See: Round Table on Sustainable Development. Working Abroad — the benefits flowing from nationals working in other economies, Prepared by Anne Harrison assisted by Tolani Britton and Annika Swanson, OECD, General Secretariat,2004, p. 8.
See: A. Gaidutskiy, “Migratsionnyy capital v Ukraine: skrytaia realnost,” available at [http://gazeta.zn.ua/ECONOMICS/
igratsionnyy_kapital_v_ukraine_skrytaya_realnost.html], 6 April, 2014.
See: Urgent Questions of Economic Sciences: Papers from the 3rd International Scientific Conference (Ufa, June 2014), Ufa, 2014, pp. 84-88, available in Russian at [http://www.moluch.ru/conf/econ/archive/95/5747/], 11 October, 2014.
[http://www.worldbank.org/ru/news/press-release/2012/11/20/developing-countries-to-receive-over-400-billion-re mittances-2012-world-bank-report], 13 April, 2014.
See: A. Gaidutskiy, op. cit.
See: Urgent Questions of Economic Sciences: Papers from the 3rd International Scientific Conference (Ufa, June 2014).
See: Analysis of the Investment Climate and Attraction of Investments in the Republic of Tajikistan, Dushanbe, 2012,p. 35, available in Russian at [http://www.gki.tj/ru/262/], 12 November, 2013.
See: B. Karimov, “Pravitelstvo dolzhno priznat iskliuchitelnuiu vazhnost migratsii,” Azia plus, 16 December, 2013.
See: S.K. Smirnova, “Investitsionnaia podderzhka regionov iz Fonda regionalnogo razvitiia, in: Nedvizhimost i inves-titsii,” Pravovoe regulirovanie, No. 3-4 (16-17), 2003; M. Karimova, “Problemy regionalnoi differentsiatsii v Respublike Tadzhikistan,” available at [http://www.moluch.ru/conf/econ/archive/95/5723/], 21April, 2014.
Jamoat—territorial unit of government in Tajikistan, rural administration.
See: S. Olimova, M. Olimov, “Tadzhikskie trudovye migranty vo vremia krizisa,” available at [http://www.demo scope.ru/weekly/2010/0415/tema05.php], 15 July, 2013.
Downloads
Published
Issue
Section
License
Copyright (c) 2014 AUTHOR
This work is licensed under a Creative Commons Attribution 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
