Transnational Diaspora Remittances and Capacity Building in Developing and Transition Countries: A Contextual Analysis in Caribbean Islands and Central Asia

Indianna Minto-Coy, Maria Elo, Elie Chrysostome

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Abstract

For many developing countries such as those in Africa and the Caribbean, remittances constitute a significant portion of national GDPs. As developing countries continue to struggle to identify new and innovative ways of growing their economies and capacity building, attention is increasingly being turned to the potential role of their diasporas in these processes. Of note here is the added attention being given to remittancing. This is with good reason, given that for countries such as Jamaica and Haiti, remitted funds represent more than development assistance and in some cases represent the highest source of foreign exchange earnings. Most importantly, diaspora members can contribute to a great extent to capacity building in their home countries through their remittances. This chapter analyses how Caribbean and Central Asia diaspora members can contribute to capacity building in their home countries. The chapter argues for a more nuanced and expanded view of remittancing. That is, one which sees remittancing as more than the sending of money directly to families. Other forms of remittancing included here are the skills and knowledge acquired in the country of residence, which can be brought back to the country of origin, to help grow its capacity to respond to ongoing developmental challenges. The chapter suggests various ways in which remitted funds can be used for capacity building. The chapter contributes to diversifying views on remittancing and its uses, as well as its role as a capacity building tool.

OriginalsprogEngelsk
TitelCapacity Building in Developing and Emerging Countries : From Mindset Transformation to Promoting Entrepreneurship and Diaspora Involvement
RedaktørerElie Chrysostome
UdgivelsesstedCham
ForlagSpringer
Publikationsdato2019
Sider205-242
ISBN (Trykt)9783030167394
ISBN (Elektronisk)9783030167400
DOI
StatusUdgivet - 2019
NavnContributions to Management Science
ISSN1431-1941

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