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Significance of the Brain Drain in Economic Growth: Case Study on India

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Abstract:

Abstract The transfer of human capital from India to developed nations has been a subject of many studies. Among other determinants, various consequences of migration in general and brain drain in particular have been widely discussed. From the perspective of India as a sending country, the result of brain drain is often interpreted as an economic loss to it, which is still regarded as a less developed country. This negative impact of professional outflows is often viewed as a national welfare loss. In the literature on brain drain from India, frequent references are made to the cost of education, incurred by the country, which is lost through the migration of professionals. This issue of high-level manpower movement is clearly old and well debated among literary circles and has mostly been centered around its negative impacts on countries of origin, which were comparatively poor and backward. There has been much debate regarding the migration of professionals and their 'supposed' impact on the sending country, either positive or negative. Some say, that this migration has had little or no bearing on the sending countries as these developing countries seemed to progress quite well despite the continued exodus of trained professionals. Others regard this migration as extremely damaging to the home countries as they had spent on the cost of education and the receiving countries reaped the fruits of this labor force. It is virtually impossible to quantify how much would this pool of engineers and scientists have contributed to their home countries had they not migrated. What we can quantify and measure is the economic growth in the country in the last two decades and the possible role that this brain drain of educated elite played in it. This chapter will focus on FDI inflows into the sending country India, as FDI, or foreign direct investment is a good indicator of economic growth of any developing country and indicates a good investment climate. Many variables that impact a multinationals decision to invest will be examined. For example, government initiatives such as tax cuts, subsidies, investment in infrastructure, and tariff rate. The country's economic dynamics at the time such as percentage of budget deficit, external debt, inflation rate, industrial and agricultural growth, per capita income, growth of the IT industry and foreign currency reserves. And also the dynamics of the labor work force such as the literacy rate, service sector growth, and level of corruption etc. Among all the various variables, the role of the diaspora in influencing FDI inflows will be tested statistically as either significant or insignificant.
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Name: International Studies Association
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MLA Citation:

Sahay, Anjali. and Srivastava, Jayesh. "Significance of the Brain Drain in Economic Growth: Case Study on India" Paper presented at the annual meeting of the International Studies Association, Hilton Hawaiian Village, Honolulu, Hawaii, Mar 05, 2005 <Not Available>. 2009-05-25 <http://www.allacademic.com/meta/p70728_index.html>

APA Citation:

Sahay, A. and Srivastava, J. , 2005-03-05 "Significance of the Brain Drain in Economic Growth: Case Study on India" Paper presented at the annual meeting of the International Studies Association, Hilton Hawaiian Village, Honolulu, Hawaii <Not Available>. 2009-05-25 from http://www.allacademic.com/meta/p70728_index.html

Publication Type: Conference Paper/Unpublished Manuscript
Review Method: Peer Reviewed
Abstract: Abstract The transfer of human capital from India to developed nations has been a subject of many studies. Among other determinants, various consequences of migration in general and brain drain in particular have been widely discussed. From the perspective of India as a sending country, the result of brain drain is often interpreted as an economic loss to it, which is still regarded as a less developed country. This negative impact of professional outflows is often viewed as a national welfare loss. In the literature on brain drain from India, frequent references are made to the cost of education, incurred by the country, which is lost through the migration of professionals. This issue of high-level manpower movement is clearly old and well debated among literary circles and has mostly been centered around its negative impacts on countries of origin, which were comparatively poor and backward. There has been much debate regarding the migration of professionals and their 'supposed' impact on the sending country, either positive or negative. Some say, that this migration has had little or no bearing on the sending countries as these developing countries seemed to progress quite well despite the continued exodus of trained professionals. Others regard this migration as extremely damaging to the home countries as they had spent on the cost of education and the receiving countries reaped the fruits of this labor force. It is virtually impossible to quantify how much would this pool of engineers and scientists have contributed to their home countries had they not migrated. What we can quantify and measure is the economic growth in the country in the last two decades and the possible role that this brain drain of educated elite played in it. This chapter will focus on FDI inflows into the sending country India, as FDI, or foreign direct investment is a good indicator of economic growth of any developing country and indicates a good investment climate. Many variables that impact a multinationals decision to invest will be examined. For example, government initiatives such as tax cuts, subsidies, investment in infrastructure, and tariff rate. The country's economic dynamics at the time such as percentage of budget deficit, external debt, inflation rate, industrial and agricultural growth, per capita income, growth of the IT industry and foreign currency reserves. And also the dynamics of the labor work force such as the literacy rate, service sector growth, and level of corruption etc. Among all the various variables, the role of the diaspora in influencing FDI inflows will be tested statistically as either significant or insignificant.

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