THE IMPACT OF REMITTANCES ON ECONOMIC GROWTH: EVIDENCE FROM TAJIKISTAN

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Preface

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Remittance dependency

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Inflow of international remittances to Tajikistan

Year Remittances (million USD)

2002 78.563

2003 146.02

2004 252.0

2005 466.65

2006 1018.8

2007 1690.8

2008 2544.0

2009 1748.2

2010 2020.5

2011 2722.5

2012 3222.4

2013 3697.7

2014 3384.1

2015 2258.6

2016 1867.4

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Inflow of remittances as a share of GDP

•Year TajikistanLower middle-income

countriesWorld

2002 6.4 4.0 0.5

2003 9.4 4.1 0.5

2004 12.1 4.0 0.5

2005 20.2 4.9 0.5

2006 36.0 4.9 0.6

2007 45.5 4.8 0.6

2008 49.3 5.1 0.7

2009 35.1 4.8 0.7

2010 35.8 4.3 0.6

2011 41.7 4.3 0.7

2012 42.2 4.6 0.7

2013 43.5 4.6 0.7

2014 36.6 4.5 0.7

2015 28.8 4.5 0.8

2016 26.9 4.2 0.7

Average for2002-2016

31.3 4.5 0.6

Minimum 6.4 4.0 0.5

Maximum 49.3 5.1 0.8

Literature Review

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Data •

The estimations for the VAR models with quarterly time series for the case of Tajikistan

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Conclusion

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Thank You!