Tojiboyev Dilshodbek Bekmirza o‘g‘li
Head of the Career Center, University of Business and Science
Email: Dilshodnamanganskiy@gmail.com
ORCID: 0009-0009-0654-6083
Abstract: This research aims to provide an in-depth analysis of the impact of financial flows (remittances) generated by international labor migration on the balance of payments, commercial bank liquidity, and macroeconomic stability. The relevance of the topic lies in the fact that, in the context of globalization, transnational labor migration is becoming a stable source of capital flows, playing a crucial role in covering current account deficits and deepening financial intermediation in developing countries. The research methodology relies on systematic analysis, comparative assessment, and econometric modeling methods based on panel data. Within the scope of the study, currency flows, their transformation into investment capital, and their impact on GDP are examined using correlation and regression analysis. The obtained results confirm that remittances not only stimulate household consumption but also serve as a foundational factor in stabilizing the current account of the balance of payments. Furthermore, continuous foreign exchange inflows expand the resource base of the banking system, creating a foundation for the growth of the credit portfolio and financial inclusion. The scientific novelty of the research lies in the development of new institutional mechanisms for redirecting labor migrants’ remittances from short-term consumption expenditures to long-term investment activity. The practical significance of the work is justified by the fact that the conclusions and recommendations of the study will serve to improve state policy regarding the mitigation of currency market fluctuations in the national economy and the transformation of capital flows coming through migration into a driver of economic growth.
Keywords: international labor migration, remittances, balance of payments, current account, financial intermediation, macroeconomic stability