The impact of emigration and remittances in development. An approach from the "initial conditions"
Keywords:
Emigration, Remittances, Development, «Initial conditions », Transnationalism, Migratory economy, InstitutionalismAbstract
The article examines the economic impact of both emigration in general, and remittances in particular, among the development processes of the countries with a migratory origin. Despite the complexity of the factors on which depends the link between «Emigration and Development», the article discusses this subject from a little tested but highly promising approach: the importance of the «initial conditions», both structural and institutional,from which emission countries start off and according to which, similar migratory stimuli could, however, produce different effects with a view to development . It also analyses the diverse meanings that emigration has according to the special initial conditions in fields such as demographic structure configuration (as far as the relation between the dependence rate and saving-investment capacity is concerned), the initial human capital endowment (that will produce different effects related to capital brain drain) or the previous existence of an efficient institutional network (that will ease, or not, the value of the «migratory economy»). Even admitting that remittances are just a manifestation of this migratory economy, the second part of the article thoroughly tackles the meaning of remittances in development,updating the information concerning this field.
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