The impact of social and monetary diaspora remittances on society and economy of home countru: The case of Serbia

Abstract

The paper provides an overview of both social and monetary diaspora remittances and their societal and economic impacts. Since migration is never a sole "muscle drain" (labor power drain), but always to a certain extent a "brain drain", the study analyzes possible effects of high-skilled international migration (highly-skilled diaspora). In addition, the pros and cons of monetary remittances are summarized and analyzed. Being among the countries with the largest Diasporas relative to the total nation's population, Serbia represents a rich case study for societal and economic impacts of social and monetary diaspora remittances.