Toward a Migration Development Bank for Transition Economies

economonitor logoLabor migration and remittances may bring positive economic effects to developing countries. This is the case particularly in countries like those in Eastern Europe and Former Soviet Union members where remittances constitute high shares of foreign-currency revenues and GDP. There is nevertheless clear evidence of an untapped development potential associated with those flows of labor and remittances, especially because of a lack of appropriate institutions. We argue here in favor of a creation of a migration development bank as part of efforts to fill such a gap.

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