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The migration of people and capital -- including the steady flow of remittances that immigrants send home -- has an enormous impact on global development.
Close to $300 billion of remittances flowed from rich countries poor countries in 2006, compared to just $70 billion in foreign aid. According to the World Bank, if OECD countries allowed just a 3% increase in the size of their labor force through more flexible immigration policies, the gains to citizens of poor countries would exceed $300 billion per year. With some notable exceptions, however, the debate over immigration reform has yet to reflect the economic force of these flows of labor and capital. This disconnect makes it harder to create prosperity at the global level and undermines the development of policy solutions that would benefit both developed and developing economies.
The Migration Project at the CID is committed to understanding and strengthening the links between migration, remittances and prosperity. The Project is also working to expand the possibilities for comprehensive immigration reform in the U.S. by bringing a development lens to the domestic policy debate.