Migration

In a surprising move, the Government of the Gambia through its Ministry of Foreign Affairs, International Cooperation and Gambians Abroad, in January 2012 convened the first “Consultative Meeting between the Government of the Republic of The Gambia and Gambians in the Diaspora”. According to a press release from the Office of the Gambian President, the main objective of the Consultative Meeting is to harness the potentials and talents of Gambians in the Diaspora, including those serving in International Organizations and others engaged in private ventures, which can be beneficial to the country. The release further indicated, “the meeting will facilitate the evaluation of the extent to which latent potential residing in Diaspora nationals, could be utilized to the fullest in support of Vision 2020 goals and objectives”.

The United States is perhaps the largest destination country for international migrants, and is by far the largest source country for international remittances (see our Factbook and a recent CBO report on remittances). The US Bureau of Economic Analysis reported that outward remittance flows from the US amounted to $51.6 billion in 2010 (see table 1). So far the BEA has published remittance data for the first three quarters of 2011. What could be the estimate for the fourth quarter 2011 and by implication the annual figure for 2011?

A challenge for developing countries considering issuance of bonds (including diaspora bonds) is costly and onerous SEC registration requirements in the U.S. and Europe.  The Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act (CROWDFUND Act) passed by the U.S. Senate on March 22 could potentially make the regulatory process simpler for some small-scale financing for small and medium enterprises (SMEs) in developing country.

Perhaps the toughest challenge faced by developed and developing countries alike is the governance of international labor migration. Some countries have developed useful mechanisms that foster economic growth and migrant integration into host societies. But in the United States, a well-informed, high level debate about how to improve employment-based migration management is conspicuously absent from the public discourse. Discussion in the media and debates in Congress typically focus narrowly on the concerns of employers who argue, for example, in favor of raising the numerical limits on two or three temporary visa categories, or those pushing for increased enforcement measures for irregular migrants.

The Economic Policy Institute’s new book, Value-Added Immigration: Lessons for the United States from Canada, Australia, and the United Kingdom, uses a comparative methodology to help fill this gap in the policy debate on labor migration in the United States. Authored by Ray Marshall, the U.S. Secretary of Labor under President Carter, it suggests how the United States could improve its own system based upon the best practices found in Australia, Canada, and the U.K. These three countries – while far from perfect – have evolved and adapted their migration governance to further a value-added strategy, i.e., one that seeks to improve productivity and innovation and fill labor shortages. They also do a better job of protecting the labor rights of foreign and native workers.