ABSTRACT
This chapter presents an overview of migration and development through the lens of remittances. It first discusses the theoretical background: push-pull models, neoclassical macro theories that view migration as a result of the geographical difference between supply and demand for labour, neoclassical micro theories that view migration as maximising expected income differentials, structural and dependency theories that see labour migration from the periphery states to the core, and the New Economics of Labour Migration that replaced the individual-centric view with a household-centric decision-making model in migration. The chapter also shows how the NELM theories incorporated remittances into the theoretical framework of migration. The development aspects of migration and remittances focus on health, education, labour market, market imperfections, gender roles, and psycho-social consequences related to micro-level outcomes as well as macro-level developmental implications, including the stabilising effect on the external sector, labour market implications, and human capital effects. The chapter incorporates information about the emerging global frameworks aimed at minimising negative and maximising positive developmental implications of migration and remittances, as well as fourth industrial revolution-related developments in the field.
