Received 11.09.2024, Revised 05.12.2024, Accepted 31.12.2024

THE IMPACT OF REMITTANCES ON THE ECONOMY OF KYRGYZSTAN

A.S. Osorova

Globalization enables free movement of human and financial resources in the world econ- omy between countries. Following Kyrgyzstan's independence, enterprise closures triggered significant labor migration. This study examines the impact of remittances, which constitute 26.6% of GDP, on economic development. Using quarterly data from the National Bank of the Kyrgyz Republic (2008-2021), an econometric analysis with the ARDL model in E-Views 12 was performed. The findings indicate that a $1 increase in remittances results in a $2.4881 GDP increase. Post-economic shocks, recovery progressed by 72% within the first year, fostering small business growth and financial sector development

international mobility, financial flows, national economy, labor resources, eco- nomic growth, gross product, investment climate, financial sector, entrepreneurship, public welfare
114-122
Osorova, A.S. (2024). THE IMPACT OF REMITTANCES ON THE ECONOMY OF KYRGYZSTAN. Bulletin of the Bishkek State University, 22(4), 114-122. https://doi.org/10.35254/bsu/2024.70.16

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