This paper identifies a remittances channel that transmits exogenous shocks, such as business cycles in remittance … Middle East, North Africa, and Central Asia, three types of results emerge. First, remittances appear to be strongly … procyclical vis-Ã-vis sending country income. Second, remittances tend to be spent on consumption of both imported and …

Long since before the Russian economic crisis, remittances from Russia have been a major source of foreign currency … income in Central Asia. In 2013, Tajikistan received remittances of $4,219 million, or 49.6%, as a proportion of GDP. In the … same year, remittances accounted for 31.1% and 11.1% of GDP in the Kyrgyz Republic and Uzbekistan, respectively. By that …