Analyzing the Impact of Foreign Remittances upon Poverty: A Case of Uzbekistan from Central Asia.

Authors

  • Farrukh Nawaz Kayani Department of Economics, College of Economics and Management, Al Qasimia University, Sharjah, United Arab Emirates.

DOI:

https://doi.org/10.32479/ijefi.11967

Abstract

Remittances have always played a central role in strengthening the economies of low-income and middle-income developing countries. The remittances have also provided a phenomenal support to the economy of Uzbekistan, which is the third leading recipient country of  foreign remittances in the Central Asian region after Kyrgzstan and Tajikistan. There is a strong need to investigate the impact of foreign remittances upon poverty reduction in case of Uzbekistan. This study has empirically investigated the impact of remittances on poverty in Uzbekistan by taking the variables like remittances, poverty size, capital formation, per capita GDP, savings and unemployment for the period of 2008-2019. Ordinary Least Square Regression was applied, and the results show an insignificant relationship between foreign remittances and poverty reduction. The reason could be that remittances in Uzbekistan are not pro-poor as mostly the workers from the rich families migrate to Russia. Furthermore most of the migrant workers prefer to settle down in Russia along with their families.

Keywords:

Foreign Remittances, Poverty Reduction, Uzbekistan, Russia, Central Asia

Downloads

Download data is not yet available.

Author Biography

Farrukh Nawaz Kayani, Department of Economics, College of Economics and Management, Al Qasimia University, Sharjah, United Arab Emirates.

Dr. Farrukh Nawaz Kayani is working as Assistant Professor at College of Economics and Management, Al-Qasimia University Sharjah United Arab Emirates. He got his PhD in International Economics from University of International Business and Economics Beijing, China. He has four Post-Doctorates from International University of Sarajevo, Bosnia & Herzegovina, Istanbul University, Turkey; Shanghai Jiao Tong University, China; and Istanbul Şehir University, Turkey.He was also a Leslie Wright Fellow at the Centre for Chinese Law, University of Hong Kong. His research interests revolve around Chinese Inward Foreign Direct Investment, Chinese Free Trade Agreements, Chinese Digital Currency & Chinese Anti-Monopoly Law.  He has published several research articles in the world's most renowned and reputed journals.

Downloads

Published

2022-01-11

How to Cite

Kayani, F. N. (2022). Analyzing the Impact of Foreign Remittances upon Poverty: A Case of Uzbekistan from Central Asia. International Journal of Economics and Financial Issues, 12(1), 1–6. https://doi.org/10.32479/ijefi.11967

Issue

Section

Articles