Human capital and youth emigration in the “new normal”

• Published in: Thunderbird international business review Vol. 65; no. 1; pp. 49 - 63
• Main Authors: Palalić, Ramo, Duraković, Benjamin, Ramadani, Veland, Ferreira, João J. M.
• Format: Journal Article
• Language: English
• Published: Hoboken Wiley Subscription Services, Inc., A Wiley Company 01-01-2023; Wiley Periodicals Inc
• Subjects: Emigration; Human capital; intellectual capital; legal framework; living standards; migration; Postulates; Quality of life; Retirement; Standard of living; Students; Youth; youth migration
• ISSN: 1096-4762; 1520-6874
• DOI: 10.1002/tie.22250

Every society's future lies in its youth, which can be considered a critical milestone for a nation's sociopolitical development. This research examines the young population attempting to identify and explores the students' perceptions about migration, their postulates, and the reasoning why so many students ultimately choose to emigrate. Data were collected in a questionnaire survey of 206 randomly selected students from Bosnia and Herzegovina. Some different multivariate analyses were performed to test the hypotheses. Other results were further discussed. Results show that the country's legal framework is a key reason for the prevailing poor living standard. This has resulted in a large number of youths leaving the country. Overall, both the legal framework (for both young entrepreneurs and women) and the overall standard of living (quality of life, well‐being, salary, retirement, and education) are correlated with people choosing to emigrate. Furthermore, theoretical and practical implications are discussed. As far as we know, this is the first empirical study on this particular region that investigates the youth migration trends considered an important milestone for human capital development.