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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.

English

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Strengthening the business sector in developing countries: The potential of diasporas

Diaspora entrepreneurship has witnessed dramatic and exciting developments in recent years, with successful entrepreneurs in the North expanding their business reach to their home developing countries, bringing along with them capital, technology and market knowledge. This has been most visible in certain high-technology sectors and in other areas such as pharmaceuticals. The two interrelated mechanisms through which the diasporas are playing a role in strengthening the business sector in developing countries are, firstly, inflows of financial resources (i.e. collective remittances, equity and bond finance) and, secondly, their ability to transfer knowledge, strengthen skills and facilitate trade through their networks and contacts. While illustrating the various success stories in this area, this chapter also emphasizes the diversity among diaspora groups and examines the underlying factors influencing the degree and nature of an expatriate community’s contribution to business development in the homeland.

English

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