Financial Engineering
E-ISSN: 2945-1140
Volume 2, 2024
International Remittances, Human Resources Outflow & Economic Growth: Dynamic Regression Models
Authors: , , , , ,
Abstract: The article presents an econometric analysis of the impact and elasticity of human resources outflow and remittance with economic growth in Ukraine. It is proved that remittance (1) has a direct relationship with economic activity rate, (2) a cyclical and multiplicative relationship with the inflationary process, and (3) an indirect effect on capital investment. It has been established that migration favorably affects the financial well-being of households and is an effective measure for accumulating investment capital and savings. The trigger for economic growth in the vector of ‘migration – remittance’ is the development of the migration capital market by increasing the investment capacity of remittance’, ensuring the target remittance orientation to the small and medium-sized business sector, guaranteeing market stability (security of remittance) and developing financial inclusion.
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Pages: 23-33
DOI: 10.37394/232032.2024.2.3