05302oam 22010334 450 991082851340332120200520144314.01-4623-2245-X1-4527-3693-61-282-84464-41-4518-7422-79786612844645(CKB)3170000000055404(SSID)ssj0001477319(PQKBManifestationID)11834666(PQKBTitleCode)TC0001477319(PQKBWorkID)11450188(PQKB)10611421(OCoLC)671571351(IMF)WPIEE2009277(MiAaPQ)EBC1606012(IMF)WPIEA2009277(EXLCZ)99317000000005540420020129d2009 uf 0engurcn|||||||||txtccrHow Russia Affects the Neighborhood - Trade, Financial, and Remittance Channels /Jaime Espinosa-Bowen, Nadeem Ilahi, Fahad Alturki1st ed.Washington, D.C. :International Monetary Fund,2009.26 p. illIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1838-0 Includes bibliographical references.Intro -- Contents -- I. Introduction -- II. Background -- III. Empirical Specification -- IV. Data and Summary Statistics -- V. The Findings -- A. Panel Results -- B. VAR Results -- VI. Conclusion -- References -- Tables -- 1. Testing for Unit Root -- 2. Summary Statistics -- 3. Determinants of GDP Growth in CIS Countries -- 4. Determinants of GDP Growth in CIS Countries-Trade Channel -- 5. Determinants of GDP Growth in CIS Countries (Excluding Russia)-Financial Linkages -- 6. Determinants of GDP Growth in CIS Countries-Remittances -- 7. Determinants of GDP Growth in CIS Countries-Combined -- 8. Forecast Error Variance Decompositions of Growth in CIS -- Figures -- 1. Average Share of CIS Countries' Exports to Russia and Europe -- 2. Ratio of Remittances from Russia and Europe to GDP of Non-Russian CIS Countries -- 3. Outflow of Remittances from Russia -- 4. Russia and CIS: The Crisis of 1998 -- 5. Growth in CIS Countries, Russia, and Euro Area -- 6. Russian Current Account Balance, NIF, and CIS Growth -- 7. Impact of Russian Growth on Growth in CIS Countries: Effects by Country -- 8. Impact of Euro Area Growth on Growth in CIS Countries: Effects by Country -- 9. Proportion of the CIS Growth Variations that are due to Russian Growth -- 10. Proportion of the CIS Growth Variations that are due to Euro Area Growth -- Appendix Table -- 1. Correlation.We test the extent to which growth in the 11 CIS countries (excluding Russia) was associated with developments in Russia, overall, as well as through the trade, financial and remittance channels over the last decade or so. The results point to the continued existence of economic links between the CIS countries and Russia, though these links may have altered since the 1998 crisis. Russia appears to influence regional growth mainly through the remittance channel and somewhat less so through the financial channel. There is a shrinking role of the trade (exports to Russia) channel. Russian growth shocks are associated with sizable effects on Belarus, Kazakhstan, Kyrgyz Republic, Tajikistan, and, to some extent, Georgia.IMF Working Papers; Working Paper ;No. 2009/277Business cyclesRussia (Federation)Capital movementsRussia (Federation)Balance of paymentsimfCurrencyimfCurrent Account AdjustmentimfCurrent account balanceimfCurrent accountimfEnergy: Demand and SupplyimfExports and ImportsimfForeign ExchangeimfForeign exchangeimfInternational economicsimfInternational financeimfMacroeconomicsimfOil pricesimfPricesimfReal effective exchange ratesimfRemittancesimfShort-term Capital MovementsimfRussian FederationimfBusiness cyclesCapital movementsBalance of paymentsCurrencyCurrent Account AdjustmentCurrent account balanceCurrent accountEnergy: Demand and SupplyExports and ImportsForeign ExchangeForeign exchangeInternational economicsInternational financeMacroeconomicsOil pricesPricesReal effective exchange ratesRemittancesShort-term Capital Movements332.042Espinosa-Bowen Jaime1704939Alturki Fahad1679781Ilahi Nadeem1688435International Monetary Fund.DcWaIMFBOOK9910828513403321How Russia affects the neighborhood4193682UNINA