The comparative analysis of remittances and economic growth nexus: The case of former USSR countries

The study investigated the impact of remittances on economic growth of migrant sending countries. Starting with a review of theories of growth and of the key remittances corridors in the present-day global economy, the paper focused on 12 out of 15 former Soviet Union countries and used panel data model based on Neo-Classic Solow-Swan Model to examine the impact of remittances on economic growth within the period from 1991-2016. The study found the lack of reliable statistical indicators for the first 14 years after collapse of USSR, which narrowed the analysis to the 2006-2016 period. The study found that an increase in remittances increases GDP of a migration exporting country in the context of post-Soviet transition economy.