Role of the Diasporas in Transition Economies: Lessons from Armenia
Lev M. Freinkman The World Bank Paper presented at the 11th Annual meeting of the ASCE. Coral Gables, August 2-4, 2001. INTRODUCTION In the second half of the 20th century several world economies have benefited considerably by capitalizing on their links with national Diasporas. China and Israel seem to be the best-known examples of countries that received a major developmental push from their nationals located throughout the world. While in most countries the main Diaspora-related benefit for the domestic economy was and still is associated with private transfers (including remittances), sent by members of Diasporas to their relatives and friends at home, China and Israel managed to complement this traditional financial support by much more active involvement of the Diaspora in their economic development....