Migrant Capacities
Migrant capacities represent one of the most valuable resources available for the growth, development and poverty alleviation of countries of origin. These assets comprise not only the individuals’ human capital (education, training, skills and knowledge), but also financial and entrepreneurial capital (Foreign Development Investments, trade, remittances, savings, start-up of business investments, purchase of real estate and humanitarian support), social capital (networks, norms and values that facilitate cooperation within and among groups), affective capital (commitment and good-will deriving from the emotional engagement in home countries) and finally local capital (willingness to invest/act in certain regions which otherwise would be overlooked).
The productive and fruitful use of human capital in all its dimensions is vital for pushing economies and societies forward in development processes, while contributing to other general purposes such as political stability and democratic standards. All these different aspects have significant potential to improve the socio-economic conditions in home countries and thus contribute to the achievement of the Millennium Development Goals (MDGs).
Yet, to achieve tangible and positive results, several conditions need to be met by policy-makers and stakeholders to create ‘win-win-win’ situations for migrants, countries of origin and destination countries. Migration of highly skilled men and women, though beneficial for receiving countries, can create a brain drain phenomenon with negative impact on the development of the countries of origin, which needs to be addressed through targeted policies.
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Does a code make a difference - assessing the English code of practice on international recruitment
