2025, Vol. 12, No. s3. - go to content...

Permanent address of this page - https://resources.today/en/18faor325.html

Метаданные этой статьи так же доступны на русском языке

DOI: 10.15862/18FAOR325 (https://doi.org/10.15862/18FAOR325)

Full article in PDF format (file size: 523.5 KB)

For citation:

Nematzoda R.F. Financial aspects of diversifying external labor migration in the Republic of Tajikistan in the context of transforming global migration flows. Russian journal of resources, conservation and recycling. 2025; 12(s3). Available at: https://resources.today/PDF/18FAOR325.pdf (in Russian). DOI: 10.15862/18FAOR325

Financial aspects of diversifying external labor migration in the Republic of Tajikistan in the context of transforming global migration flows

Nematzoda Romish Fazliddin
National Testing Center under the President of the Republic of Tajikistan in Khujand, Khujand, Republic of Tajikistan
E-mail: romish1985@mail.ru

Abstract. Remittances from labor migrants play a key role in shaping the financial systems of developing countries, ensuring the flow of foreign exchange resources, maintaining the balance of payments, and stabilizing budgetary processes. The Republic of Tajikistan demonstrates the highest economic dependence on cross-border remittances in the world, reaching 45 % of gross domestic product in 2024. This raises questions about the country’s financial sustainability given the concentration of migration flows in a single receiving market. This study aims to analyze the financial implications of the geographical mono-dependency of migration flows and substantiate financial mechanisms for diversifying external labor migration in the Republic of Tajikistan. This paper systematizes theoretical approaches to assessing the macrofinancial effects of remittances, conducts a comparative analysis of the financial conditions of migrant labor in various receiving markets, and examines the institutional architecture for regulating migration flows in the context of the strategic documents of the Republic of Tajikistan for the period up to 2040. The study’s results demonstrate a nonlinear relationship between the financial stability of households and the state budget and the volume and geography of remittances. The expansion of labor migration routes creates the preconditions for reducing currency risks and increasing the stability of the country’s financial system. The practical significance of this study lies in the development of recommendations for optimizing the financial infrastructure for remittances and increasing the efficiency of using migration capital for the economic development of the Republic of Tajikistan.

Keywords: remittances; labor migration; Republic of Tajikistan; financial stability; diversification of migration flows; balance of payments; currency risk; migration capital; EPS system

Download article in PDF format