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Remittances as a Source of Finance for Entrepreneurship in Uzbekistan
Kakhkharov, Jakhongir
Kakhkharov, Jakhongir
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Abstract
Transforming the remittances and savings of labor migrants into a source of financing for entrepreneurship as well as other development projects is the focus of the migration policies of many governments in migrant-sending countries. Unilateral transfers from overseas are playing an increasingly important role in the economies of developing countries. To
take the case of Uzbekistan, labor migrants’ remittances and savings have facilitated the development of the country’s financial sector by prompting the development of sophisticated money transfer operators. However, the degree to which these flows finance the needs of business enterprises remains unclear.
The aim of this research is to analyze the degree to which remittances from labor migrants are easing the financial constraints on small businesses in Uzbekistan. To put it another way, the research looks to shed light on the significance of labor migrants’ remittances and savings for entrepreneurship. As such, this research has important policy implications. Small businesses are believed to be crucial for job creation and economic growth. The results of this paper indicate that the link between labor migration and business investment in Uzbekistan is rather equivocal.
Keywords
remittances, labor migration, Uzbekistan, savings, entrepreneurship, small business, business investment
Date
2018
Type
Book chapter
Journal
Book
Eurasia on the Move - Interdisciplinary Approaches to a Dynamic Migration Region
Volume
Issue
Page Range
150
Article Number
ACU Department
Peter Faber Business School
Faculty of Law and Business
Faculty of Law and Business
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Open Access Status
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All rights reserved
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Controlled
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© 2018 Central Asia Program, The George Washington University. All Rights Reserved.
No part of this publication may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopy, or any information storage and retrieval system, without permission from the Central Asia Program.
No part of this publication may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopy, or any information storage and retrieval system, without permission from the Central Asia Program.