Migrations et transferts de fonds. Impact sur les pays d'origine

In the nineteenth century, migration proved to be a powerful engine of growth and income convergence. In the present episode of globalization, migration appears to be confined to a relatively marginal role, overwhelmed by the expansion of trade and especially capital flows. A further key difference is that immigration policies in the main destination countries have become increasingly selective and tend to favour the entry of skilled individuals. The paper focuses on the impact of international migration flows on sending countries. What are the determinants of migrants? wages, remittances and, ultimately, the impact of out migration on the home country? What are the conditions for the brain drain to turn into a brain gain? What are the micro and macro-economic impact of remittances? The paper will review the main policy implications that can be derived from the existing theoretical and empirical literature.