Inclusive Growth and International Labour Migration

¹ Institute for Forecasting and Macroeconomic Research, Tashkent, Uzbekistan
² Institute of Economics, Ural Branch of the Russian Academy of Sciences, Russia
³ Ural State Economic University, Russia

^* Corresponding author: nnp81@mail.ru

Abstract

This contribution presents the results of an econometric analysis of the interconnections between migration, economic diversification, the quality of state institutions and other qualitative characteristics of economic growth that have developed in developing countries of the world over the past two decades. The study highlighted the most important factors that contribute to the creation of conditions and prerequisites for the inclusive development of the economy. The analysis showed that among other factors, the most important are the quality of state institutions, technological development, which creates the conditions for investing in human capital. The study also made it possible to determine thresholds for these factors as guidelines for the transition of the CIS countries to the inclusive development of their economies and to limit disordered labour migration. Another important result of the study is the fact that large-scale and poorly controlled migration is acting like a brake on the sustainable development of the whole post-Soviet space. To overcome this process, it is necessary to create large-scale joint integration, knowledge-based and technological projects that will not only reduce the scale of migration to Russia, but also contribute to increasing human capital in the CIS countries and to the creation of knowledge-based jobs in their labour markets.