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Realizing the Development Potential of Diasporas

image of Realizing the Development Potential of Diasporas
In this book, international experts including academics, policymakers, private sector practitioners, and representatives of diaspora communities further our understanding of how the growing population of expatriates from the developing world can be effectively leveraged to promote development in their homelands. The contributors cover issues relating to diaspora diversity and its impact on development, the potential of expatriates to further entrepreneurship and business development in their homelands, the effectiveness of remittances in furthering inclusive development, and policies to better engage diasporas as drivers of development. Their analyses are supported by examples and case studies focusing on the experiences of specific diaspora networks, home country institutions promoting diaspora engagement, migrant entrepreneurs, and financial institutions facilitating remittances.

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Remittances, diaspora and inclusive micro-finance: What have we learnt?

The benefits of migration are mostly through remittances to the country of origin. Poor or uncertain economic prospects in developing countries result in part of the family living and working in an industrialized nation and sending money to support family members who remain in their home country. Remittances characterize the most tangible contribution of migrants to poverty reduction. Migration is not only a South–North phenomenon as commonly believed; South–South migration is just as large. South–South remittance flows make up 30–45 per cent of total remittances received by developing countries (Ratha and Xu 2008).

English

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