International Trade Working Paper

The International Trade Working Paper series promptly documents and disseminates reviews, analytical work and think-pieces to facilitate the exchange of ideas and to stimulate debates and discussions on issues that are of interest to developing countries in general and Commonwealth members in particular. The issues considered in the papers may be evolving in nature, leading to further work and refinement at a later stage.


The Diasporic Economy, Trade and Investment Linkages in the Commonwealth

The paper examines the relationship between the burgeoning diasporic economy and the ways in which it facilitates the growth of trade, entrepreneurship and investment between migrant sending and receiving countries in the Commonwealth. The paper argues that the economic impact of diasporas is a two way street in that the process of migration creates bilateral trade and investment linkages as exemplified in the demand and supply of nostalgic, specialty and niche goods, services and intellectual property as well as the flow finance (e.g. remittances, diaspora savings and bonds) and knowledge transfers (e.g. brain drain, gain and circulation). The paper offers a panoramic view of diasporic trade flows taking into account the experience of diverse member of the Commonwealth such as India, Nigeria, Tonga, Jamaica, Bangladesh, Kenya, Australia, Canada and the UK.


Keywords: migration, remittances, diasporic economy, investment
JEL: F22: International Economics / International Factor Movements and International Business / International Migration; F24: International Economics / International Factor Movements and International Business / Remittances
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