Socioeconomic Aspects of Intellectual Migration from Russia (Illustrated by Youth Migration)

<p><strong>Abstract</strong></p><p>The topic of migration has been widely discussed during the past decades. It became obvious that it is crucial not only to bring up and educate promising professionals, but also to retain them in the country. That is why it is so important to understand, why people tend to leave their native land and what are the consequences of this process for the sending country.</p><p>The aim of this research is to find out socio-economic factors and effects of intellectual migration from Russia of educated youth with high potential, and in accordance with that to suggest some necessary measures to regulate the process. The group of educated young professionals was chosen for investigation for a reason: the representatives of this group possess the biggest human capital, if calculated by the <em><strong>Jorgenson</strong></em> - <em><strong>Fraumeni</strong></em>,&nbsp; method (also called the method of discounted flow of future income). As for the scientific novelty, this research is the first one to give the economic estimation for the consequences of intellectual youth migration by modeling the dynamics of country&rsquo;s overall human capital.</p><p>In order to find out the socio-economic factors, which influence the decision to migrate, the logit regression model was built based on the data, collected through the survey of more than 430 HSE students. After the thorough analysis of the results, it was found out that there exists a number of factors, which influence student&rsquo;s migration mood. Among these factors there are such as: specialization, carrier plans and international experience.</p><p>In order to evaluate the possible consequences of intellectual migration, the human capital model was built. The hypothesis to test was that the loss in human capital which occurred because of the youth intellectual migration can be compensated by the return migration of some of the migrants. However, according to the obtained results, the conclusion to be made is that within the current conditions of intellectual migration this hypothesis should be denied. In order for Russia to benefit from the return migration, some measures need to be taken. Precisely, it is important to attract migrants with increased human capital and to provide them with necessary conditions for building a successful carrier.</p>