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International Migrant remittances and reduction of poverty

Keywords: Remittance , Emigration , Inclusive Development , Diaspora

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Abstract:

International migration should become an integral part of national, regional and global strategies for economic growth, in both the developing and developed world.The number of international migrants, or people residing in a country other than their country of birth, has increased more or less linearly over the past 40 years. International migration has attracted a great deal of policy attention in recent years, Moreover, for many developing countries, remittances have become a critical form of financing their balance of payments. While remittances are generally pro-poor, their effects are greatest on transient poverty. However, the long-term effects on structural poverty are less clear, principally because the consequences of remittances on long- term economic development are not well understood. The role that migrants play in promoting development and poverty reduction in countries of origin, as well as the contribution they make towards the prosperity of destination countries, should be recognized and reinforced. The paper aims to analyze the capability of international migration to reach the poor and increase their income levels and also suggest measures for Inclusive Development.

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