International Remittances, Human Resources Outflow & Economic Growth: Dynamic Regression Models-Reference-Cited by-同舟云学术

International Remittances, Human Resources Outflow & Economic Growth: Dynamic Regression Models

Published:2024-01-25 Issue: Volume:2 Page:23-33
ISSN:2945-1140
Container-title:Financial Engineering
language:en
Short-container-title:

Author:

Mulska Olha¹,Vasyltsiv Taras¹,Voznyak Halyna²,Mitsenko Nataliia³,Kaplenko Halyna⁴,Ivaniuk Uliana⁵

Affiliation:

1. Department of Social and Humanitarian Development of the Regions Dolishniy Institute of Regional Research of the National Academy of Sciences of Ukraine 79026, Lviv, Kozelnytska str., 4 UKRAINE

2. Department of Regional Financial Policy Dolishniy Institute of Regional Research of the National Academy of Sciences of Ukraine 79026, Lviv, Kozelnytska str., 4 UKRAINE

3. Department of Economics Lviv University of Trade and Economics 79005, Lviv, Tugan-Baranovskogo str., 10, UKRAINE

4. Department of Economics and Public Administration Ivan Franko National University of Lviv, 79000, Lviv, Universytetska str., 1 UKRAINE

5. Department of management of the organization Lviv Polytechnic National University 79013, Lviv, St. Bandery str., 12 UKRAINE

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.

Publisher

World Scientific and Engineering Academy and Society (WSEAS)

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