Analysis of the Impact of International Migration on the Financial and Economic Cooperation of Countries

Abstract

Purpose: The aim is to study the theoretical foundations and practical aspects of the analysis of international migration and identify its impact on the financial and economic cooperation of countries. Theoretical framework: The development of cryptocurrencies by banking institutions operating in the online environment provides for the purchase and sale of cryptocurrencies on stock exchanges, not on crypto exchanges, allowing the use of cryptocurrencies as a means of payment and investment. Design/methodology/approach: The methodological basis of the study is built on general and special methods of economic analysis and scientific cognition, namely: system analysis, synthesis, scientific abstraction, comparison, analogy, statistical analysis, functional-systemic approach, graphical and tabular methods, generalization, systematization, grouping, k-means clustering method. Findings: The obtained results of the study allowed us to establish that in today's conditions the processes of international migration have significantly aggravated and have a significant impact on the formation of the basic principles of financial and economic cooperation of countries. The largest migration flows from Ukraine to European countries have been identified, which is due to the intensification of the financial, economic, humanitarian, and socio-political crisis caused by Russia's full-scale invasion of Ukraine. It has been proven that the greatest destructive impact of international migration is experienced by such countries as Poland, the Czech Republic, Germany, and Hungary, where the largest number of refugees and socially vulnerable populations is concentrated. Research, Practical & Social implications: A significant level of financial support to Ukraine from highly developed countries has been established. This is manifested in the provision of significant amounts of credit and grant assistance. It has been suggested to strengthen interstate cooperation between countries in the field of migration to overcome the crisis. Originality/value: proposals have been made to form a set of measures to regulate migration flows and balance the international labor market.