Abstract

Remittance flows in many developing countries have proved to be a lifeline to millions of households as well as the economies of many developing countries. Remittances have contributed a significant portion of GDPs in many countries. For example, remittances contribute about 50 per cent to Tajikistan’s GDP. As the volume of international migration increased substantially over the recent decades so did the volume of remittances. This is slightly slower than the past, for example, from 1970 to 2015, remittances increased by more than 500 per cent (see Ullah, 2017). However, it was proven that remittances were resilient to crises (Sirkeci, Cohen, Ratha, 2012).