The Impact of Migration of Highly Skilled Workers on The Country’s Competitiveness and Economic Growth

• Published in: Montenegrin journal of economics Vol. 17; no. 3; pp. 7 - 19
• Main Authors: Oliinyk, Olena, Bilan, Yuriy, Mishchuk, Halyna, Akimov, Oleksandr, Vasa, László
• Format: Journal Article
• Language: English
• Published: Podgorica Ekonomska Laboratorija za Istrazivanje Tranzicije 01-07-2021; University of Montenegro - Faculty of Economics Podgorica
• Subjects: Brain drain; Cognition & reasoning; Cognitive ability; Developed countries; Economic development; Economic growth; Emigration; Employment; Higher education; Human capital; Immigration; Industrialized nations; Knowledge management; Labor market; Macroeconomics; Migration; Per capita; Professionals; Regression analysis; Skilled workers; Statistical analysis; Study abroad; Trends; United States > US
• ISSN: 1800-5845; 1800-6698
• DOI: 10.14254/1800-5845/2021.17-3.1

The links between the migration of highly skilled workers and economic growth (in terms of GNI per capita) and the competitiveness of countries have been studied. The study is based on statistics from developed countries and using correlation-regression analysis and modelling, as well as cluster analysis using the package of processing and analysis of statistical information STATISTICA. The analysis found that the immigration of workers with higher education has a significant impact on strengthening the competitiveness and economic development of countries - this is confirmed by the impact of talent migration, which is assessed by the values of case studies (The Human Flight and Brain Drain sub-index Fragile States Index and Brain gain sub-index in the Global Talent Competitiveness Index and Highly educated workers sub-index in the OECD indicators of talent attractiveness). Their impact on macroeconomic indicators is higher compared to the links with social development indicators. Of course, this does not mean that such links should not be seen as important in public economic development management, as they illustrate the level of efficiency achieved in creating favourable conditions for realizing the potential of highly skilled workers, including pull-factors for their immigration. But in the macroeconomic management of a competitive economy, according to our research, actions aimed at attracting highly skilled migrants have the most significant and obvious impact. Other links can be taken into account and used in modelling for the development of institutional support for proactive migration policy for highly qualified workers.