Title page 1

Contents 3

Abstract 1

Introduction 5

Why might emigration lead to growth? 7

Remittances 7

Sending country labor market effects 9

Human capital accumulation/brain gain 9

Brain drain 10

Brain circulation 12

Trade and investment links 13

Growth potential 14

More migrants = more growth? 14

Manufacturing for export versus migration 15

Growth and higher skilled migration to richer countries? 18

Political plausibility in destination countries 20

Policy lessons 21

Increasing the absolute number of migrants 22

Increasing the growth impact of migrants 23

Rich country policies 26

Conclusion 26

Appendix 1. Variable sources, definitions, means, and standard deviations 27

Appendix 2. Robustness 28

TABLE 1. Receiving capital versus sending people as a source of growth 16

TABLE 2. Remittances versus exports as a percent of GDP 18

TABLE 3. Emigration versus manufacturing employment 18

TABLE 4. Emigration growth regressions 19

FIGURE 1. Manufacturing exports and growth 2000-2020 7

FIGURE 2. Emigrant stock vs. GDP per capita growth 14

FIGURE 3. Emigrant stock vs. population 21