Actual number: 1/2024
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BRAIN DRAIN IMPACT ON THE ECONOMY: BALTIC STATES CASE
Globalization processes in the world are increasingly facilitating for migration of people. Increasing openness of countries, improved transport systems, their convenience and accessibility make it easier, and easier for people to travel between countries. This encourages international migration. As most countries migrate most of their human resources, some countries face the problem of brain drain when leaving a country with highly skilled resources, transferring their competences to another country. Considering that people are one of the most important resources of the country, it is obvious that large emigration flows affect the social and economic situation of the country. The brain drain phenomenon is particularly painful for those countries that do not have significant economic advantages over other countries but have favourable conditions for people to leave - international agreements, visa-free regime, etc. In Europe, this is especially evident among former post-Soviet countries. Those who joined the European Union were faced with a massive flow of migration as they could not offer their citizens adequate financial wealth. This article aims to compare the Baltic States' situation with the brain drain. In this article, the authors seek to assess how brain drain affects the economies of countries and to make suggestions on how to deal with emerging problems.
Release: 2019/1 Pages: 66-76 JEL classification: J20, J61, O15
DOI:
Keywords: labour market, migration, brain drain, employment, Baltic States
Section: SOCIAL CONTEXT OF THE ECONOMY, LABOR MARKET AND HUMAN RESOURCES DEVELOPMENT
Contacts:
Mgr. Mantas Svazas,
PhD student,
Kaunas University of Technology (Lithuania),
School of Economics and Business
Gedimino st. 50-501, Kaunas, Lithuania.
E-mail: mantas.svazas@ktu.edu
Mgr. Manta Liberyte
University of Technology (Lithuania),
School of Economics and Business,
Gedimino st. 50-501, Kaunas, Lithuania.
E-mail: manta.liberyte@gmail.com
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