MACROECONOMIC CONSEQUENCES OF INTERNATIONAL MIGRATION IN THE CONTEXT OF GLOBALISATION OF THE WORLD ECONOMY
Abstract
This article explores the intricate relationship between globalization, migration, and their impact on the global economy, underscoring how globalization catalyses migration and, in turn, shapes a globalized world. The study highlights globalization’s positive effects, despite countries entering this process under vastly different conditions. It delves into the economic and social consequences of migration for both sending and receiving countries and forecasts potential trends in migration patterns based on current globalization processes. Migrants contribute to the economy of host countries through labour, entrepreneurship, and cultural exchange while maintaining ties with their home countries through remittances and transnational networks, exemplifying the deep connection between migration and globalization. The investigation delineates the challenges and opportunities that migration presents for economic policy and social integration, advocating for a nuanced understanding of migration’s contributions to global economic resilience and diversity. The significance of migration regulation for improving countries’ socio-economic status is emphasized, with a focus on the need for migration policy adaptation to maximize benefits from participation in migration movements, considering the economic needs. This includes addressing migrant integration issues and optimizing both internal and external labour markets while protecting national interests. In summary, this article offers a comprehensive examination of the relationship between migration and globalization, illustrating how intertwined these processes are and the significant impact they have on the world economy. It calls for a collaborative approach to migration management that recognizes the inherent linkages between migration, globalization, and economic development, advocating for policies that maximize the benefits of these global phenomena while addressing their challenges in a balanced and effective manner.
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