Аңдатпа
The development of human capital has become a strategic priority for states seeking to strengthen their competitiveness in the global knowledge economy. In this context, international educational migration is increasingly viewed not only as a form of academic mobility but also as a mechanism for the accumulation, circulation, and utilization of knowledge in support of national development. This article examines the Bolashak International Scholarship Program of the Republic of Kazakhstan as an institutional mechanism for transforming educational migration into national human capital. The purpose of the study is to provide a theoretical and analytical interpretation of the Bolashak Program as a model of managed educational migration and to explain the mechanisms through which overseas education contributes to long-term national development. The research is based on an integrative literature review, thematic analysis, institutional analysis, comparative analysis, and the formal-legal method. The source base includes international and national studies on educational migration, human capital development, knowledge circulation, and the Bolashak Program. The findings demonstrate that the effectiveness of overseas education programs depends not solely on participation in international academic mobility but on the existence of an institutional chain connecting public investment in education, the acquisition of global competencies, graduate return and reintegration mechanisms, knowledge transfer processes, and subsequent institutional transformation. Based on this analysis, the article proposes a conceptual model explaining how educational migration can be converted into a sustainable resource for national development. The originality of the study lies in conceptualizing the Bolashak Program as an institutionalized model of managed educational migration and in developing a framework that links educational mobility, knowledge circulation, and national human capital formation. The practical significance of the research consists in identifying institutional conditions that enhance the developmental impact of state-sponsored international scholarship programs.