FINANCIAL INSTRUMENTS FOR THE FORMATION OF ENTREPRENEURIAL CAPITAL OF DOMESTIC LABOR MIGRANTS
DOI:
https://doi.org/10.31891/mdes/2023-9-9Keywords:
labor migrants, government labor bonds, remittances, entrepreneurial capitalAbstract
The study updates the issue of the state policy of stimulating the productive use of cash transfers, namely in the form of investments. The purpose of the article is to substantiate the financial instruments for the formation of entrepreneurial capital of domestic labor migrants, taking into account world experience and the importance of obtaining sufficient economic and social benefits from their use. The volumes and dynamics of annual transfers of monetary capital by labor migrants to Ukraine, which make up about 8.0% of the country's GDP, are shown. However, this capital is used very unproductively and almost entirely goes to finance consumer spending of the domestic population. The experience of many countries shows that migration bonds are able to perform a number of important functions when solving the tasks of increasing the volume of direct foreign investment and implementing a number of projects of both economic and social importance. Therefore, it was established that the main task of the authorities is to restrain the critical increase in the volume of external migration of the population and to create attractive working conditions in the domestic labor market, which allows to accumulate monetary capital and exceed it in comparison with remittances abroad. Determined economic and social benefits from the use of state migration bonds in the formation of entrepreneurial capital of domestic labor migrants. The main emphasis is placed on the advantages of using state migration bonds in the formation of entrepreneurial capital of domestic labor migrants, and this is confirmed by the positive experience of many countries. It is clear that the state can use other financial instruments such as taxes and fees, financial contracts (futures, forwards, options), insurance policies, warrants, etc. In Ukraine, state migration bonds are considered as a promising financial instrument, thanks to which it is possible to solve a number of problems of labor migration of the population.
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