associated inflow of workers' remittances over the past two decades. These four countries have much higher human capital, as … workers' remittances has had effects analogous to those of Dutch disease in the Kyrgyz Republic and Tajikistan, which have …-Samuelson adjusted real exchange rates, and poor trade performance. In Armenia and Georgia, where remittances are a smaller share of …

local, regional, and foreign markets; (2) remittances and investment subsidies to promote job creation and labor …