| Abstract [eng] |
Migration is a historical, socio-cultural, and economic phenomenon whose roots can be traced back to the evolution of human history. In prehistoric times, people migrated in search of survival opportunities, however, in modern society, the growth of migration is driven by processes of globalization, geopolitical changes, technological advancements, and climate change. This constantly growing phenomenon and its consequences, adapting to global changes, are complex and inexhaustible subjects of scientific research, influencing social, economic, and political factors. An integral phenomenon of the migration process - the flows of migrant remittances to their home countries - not only stimulates global human movement, but also plays a critically important role in shaping the economies of both remittance-receiving and sending countries. The benefits of migrant remittances in remittance-receiving countries are widely explored in the scientific literature. However, there is noticeable lack of the literature examining the impact on remittance-sending countries. This work analyzes how migrant remittances affect the economy of the remittance sending country. In a theoretical context, the connections between remittances and the economic indicators of the remittance-sending countries are revealed, and four theoretical models are created. For the implementation of the empirical study, economic data from 21 European Union countries for the period 2001 – 2021 y. is used. The research includes methods such as descriptive statistics, correlation analysis and panel data regression analysis. A panel diagnostic was performed for all four theoretical economic indicator models, to get recommendation for the most appropriate panel data regression model. Using the panel diagnostic-recommended panel data fixed effects regression model, relationships between migrant remittances and the economic indicators of remittance-sending countries were revealed. |
