The relevance of brain drain in economic development

Abstract

This paper is focused on the effects of studying brain drain for the developing countries. This work contains an analysis of the recent theories based in these effects and other classical theories which are still cited in numerous development articles of this century and study their confrontation points. After this study of the different theories, the essay analyses the impact of brain drain for the economies through different ways such as the remittances send by skilled migration, its influence in volume of trade and FDI or its effects on the level of education. This paper includes an empirical study about the consequences of brain drain for the economic growth to synthetize the effects on the different areas. This topic has a notorious level of significance in development because is strictly related with education, one of the most important instruments for development.