러시아ㆍ유라시아

The phenomenon of remittances has become an integral part of some economies in Central Asian region. Two crises of 2009 and 2014 have shown how drastically the economic situation in Kyrgyzstan, Tajikistan and Uzbekistan can worsen once they witness a dramatic f all of migrant remittances. The dynamics of remittances has become one of the main macroeconomic indicators that are closely tracked by policy makers at these countries. To predict possible shock spillovers via the remittances channel policymakers may benefit from the awareness of what macroeconomic variables remittances depend on. This paper makes an attempt to define main macroeconomic f actors that may help policy makers to predict the future path of remittances.