Publication

This brief examines the potential implications of the global economic crisis for the Black Sea region, in particular the danger of a decline of Official Development Assistance (ODA) and/or remittances. Since most of the states in the region are highly dependent on these capital flows, such a decline could have tremendous socioeconomic effects. Drawing on the '3-for-1' model of collective remittances, this brief proposes a solution based on the idea that less capital could be more productive if deployed in the right manner.