UDC 336.722.117.3
DOI: 10.51409/va2023.10.03.007

Authors

V. I. Chumakovsky,
Russian Academy of National Economy and Public Service under the President of the Russian Federation, Moscow, Russia

Abstract

The article discusses the comparative dynamics of cross-border money transfers between individuals from the Russian Federation, the Republic of Armenia, the Kyrgyz Republic and the Republic of Kazakhstan in the first quarter of 2022–2023.
The issue of determining the volume of transfers between individuals in the CIS space, as one of the factors of economic integration, is touched upon. Particular attention is paid to the ratio of inflow and outflow of funds to the listed countries, as well as what changes have occurred in this industry a year after the start of a full-scale transformation of the Russian economy and its reorientation to the east.
The article allows assessing the scale of inflow and outflow of funds through the prism of cross-border transfers between individuals. According to some experts, the inflow of funds from individuals from the Russian Federation and the relocation of Russian business as a whole can significantly affect the growth of the economies of the CIS countries.
The uniqueness of the article lies in the fact that such an analysis for this period has not been previously carried out, and data on cross-border transfers of funds between individuals from the above countries are taken from the official data of the central (national) banks of the states. At the time of this writing, only the data of the above-mentioned countries were in the public domain, data for other countries are closed and not published.

Keywords

transformation, Russian economy, Commonwealth of Independent States, cross-border transfer, volume, remittance, Eurasian Economic Union, economic development.