Migration, remittances, and capital flows
This book, focusing on a relatively unexplored theme in economics, makes an important contribution to our knowledge of migration across national boundaries and to our understanding of its implications and consequences for labour exporting countries. The book constructs a profile of international labour migration from India, analyses the macro-economic impact of the labour flows and the associated financial flows on the national economy, and discusses the issues or problems that arise in a wider macro-economic context, with reference to the Indian experience. To begin with, the author sets out a theoretical framework to analyse the macro-economics of international migration. This first part of the book outlines the dimensions of and the trends in these migration flows and financial flows. It puts together the evidence, based on published and unpublished data from primary sources, on migration, remittances and capital flows to sketch a picture of international labour migration from India that has not been available until now. The second part of the book analyses the macro-economic implications and consequences of migration. It seeks to assess the impact of labour flows on output and employment, and of financial flows on savings, investment and the balance of payments. This leads to a discussion of policies, problems and issues with regard to the export of workers, the inflow of remittances and the movement of capital. In conclusion, the author sets out some prescriptions which would facilitate the maximization and the socialization of the benefits from international migration in the wider context of economic development.
