I’ve recently heard that part of the success story of some European countries (i.e. Ireland, Italy, Sweden) came from the massive emigration, mainly to the Americas, during most of the 1800s and early 1900s (clearly among many other factors).
The mechanism worked in a way that the exit of unskilled labor drove wages upwards.
As far as I know, many developing countries benefit from remittances from their diasporas. Is the growth in these cases comparable to that of these European countries?
As far as I know the countries with the largest emigration rates are those with very unstable institutions, so it seems unlikely that the most recent waves will lead to such development in the short term. However, I got curious on whether it would be achievable (or was already achieved) by some countries rated as developing in the post-WW2 scenario.
Has any developing country recently benefited from emigration just like European countries did in the 1800s and early 1900s?
byu/Extension-Nail-3573 inAskEconomics
Posted by Extension-Nail-3573