Financial aspects of national migration processes

Iryna Kolesnyk Ph.D. in Economics, Associate Professor, «KROK» University

Intensification and deepening the processes of globalization and integration in the world economy, interdependence and diffusion of national economies, transnational character of mobile factors of production (including labor flows) determine the inclusion of Ukraine in the international labor market. The increase of financial income from Ukrainian citizens working abroad is traditionally considered to be one of the positive effects of this process. The article deals with studying the financial performance of national migration processes. Trends, dynamics, structure and distribution of private transfers of Ukrainian migrants are analyzed by the author. A comparative analysis of financial benefits and losses for the national economy from migration processes is performed. The need of adjusting private transfer flows to the amount of potential GDP losses and tax revenues to the country’s budget are emphasized. Tax revenues arise from the inclusion of the part of the working population in the international migration process, as illustrated by author’s calculations. At the same time, the counterbalance to the positive financial consequences (at first glance) of migration processes for the national economy of Ukraine as a number of significant risks that will occur in the long-term perspective is pointed out in the article.