The impact of the 2014-2016 Russian financial crisis on remittances, consumption, and credit: the case of Kyrgyzstan

Breaks, Rachael; Durif, Clément; Sun, Peiyao; Voelz, Joule

The impact of the 2014-2016 Russian financial crisis on remittances, consumption, and credit: the case of Kyrgyzstan

License

Citation

Breaks, R, Durif, C, Sun, P, Voelz, J. The impact of the 2014-2016 Russian financial crisis on remittances, consumption, and credit: the case of Kyrgyzstan. 2022. handle: http://hdl.handle.net/10230/55228

This citation was generated automatically.

Abstract

In this paper we consider the negative medium-term impact of the Russian Financial Crisis of 2014-2016 on remittances, consumption patterns, and credit in the Kyrgyz Republic. Using panel data, we show a significant drop in migration to Russia and remittances from Russia on the extensive and intensive margins. Households with a migrant abroad in Russia just prior to the crisis experience an average fall in real per capita income and an increase in poverty, while households both with and without a migrant rebalance their consumption basket to cope with the economic downturn.

Description

Treball fi de màster de: Master's Degree in Specialized Economic Analysis: International Trade, Finance, and Development. Curs 2021-2022
Tutors: Fernando Broner, Jaume Ventura