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Emigration and Foreign Direct Investments: Links and Impact on the Bulgarian Economy

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Abstract

Object of the study are international migration and FDI, as the main phenomena of the globalization of economic relations. Another aspect is tracking the link, established in recent years, about the relationship between international migration and FDI, as a consequence of the evolution of the concept of the international movement of factors of production. In connection with these conceptual aspects, attempts were done to establish whether there are some connections between the growth of Bulgarian emigration and the formation of the Bulgarian diaspora abroad and the FDI inflows in the country. In particular, in the first section some details were given about the increase of Bulgarian emigration. In the second section some concrete conclusions have been drawn about the impact of FDI on macroeconomic development in Bulgaria. In the third section some possible links between migration and FDI were developed, arguing that some effects of "complementarities" can be established. The fourth section is devoted to the main potential benefit for the Bulgarian economy by the increase in remittances from Bulgarian emigrants to relatives remaining at home. Conclusions were made as well as on the relationship between migration and Bulgarian FDI and the effects on macroeconomic development and the prospects of evolution and the benefits of FDI and remittances like an external financial inflows.

Suggested Citation

  • Iskra Christova-Balkanska, 2011. "Emigration and Foreign Direct Investments: Links and Impact on the Bulgarian Economy," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 80-103.
  • Handle: RePEc:bas:econst:y:2011:i:2:p:80-103
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    References listed on IDEAS

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    1. Yordan Kalchev, & Valentin Goev & Vesselin Mintchev & Venelin Boshnakov, 2004. "External Migration from Bulgaria at the Beginning of the XXI Century: Estimates of Potential Emigrants’ Attitudes and Profile," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 137-161.
    2. Baldwin, Richard & Venables, Anthony J, 1994. "International Migration, Capital Mobility and Transitional Dynamics," Economica, London School of Economics and Political Science, vol. 61(243), pages 285-300, August.
    3. Kugler, Maurice & Rapoport, Hillel, 2007. "International labor and capital flows: Complements or substitutes?," Economics Letters, Elsevier, vol. 94(2), pages 155-162, February.
    4. Vesselin Mintchev, 2009. "International Migration and Remittances in the Balkans: The Case of Bulgaria," Chapters,in: The Integration of European Labour Markets, chapter 9 Edward Elgar Publishing.
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    More about this item

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances

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