Statistics of Individuals' Cross-Border Remittances. Methodological Approaches and Analytical Opportunities

Abstract

The article analyzes the dynamics and structure of cross-border remittances of individuals in the global economy and the place of Russia in the system of household money transfers. The methodological and theoretical aspects of accounting for cross-border transfers are considered, a detailed picture of the movement of individuals' funds to the global territory, their genesis including trends in international migration of the population as the basis for the formation of financial flows between households is given. The connection of international trends with the main characteristics of remittances in the Russian Federation is presented. Based on the statistics of cross-border money transfers developed by the Bank of Russia, the main aspects and specific features of financial flows between Russian households and non-CIS countries, the CIS and EEA countries, highlighted the methodological nuances and peculiarities of organizing money transfers in the Russian Federation, transfers as the main channel for the distribution of financial and labor resources in the EEA. A conclusion was made about the importance of cross-border remittance statistics as an analytical tool for assessing the role of financial flows between households.