Brain Drain, the Consequence of Globalization and Future Development: A Study on Bangladesh

Abstract

Brain drain, skill migration, in developing nation is becoming one of the major concerns for sustainable economic development. In a globalize world, mobility of human resource is quite common. But the consequences of brain drain in a globalized world must be monitored and governments should take proactive actions to face this challenge with care because it also brings remittance for the home country. In this paper we tried to show how skill migration takes place and how we can retain these brains to home country by providing some push and pull factors with the help of government and private sectors. Identifying key issues of skill migration and providing solutions which would enable people to share their knowledge, skills and innovative capacities and thereby enhancing the economic development of their countries. It also identifies country specific solutions to bring out the positives that ensure the sustainable future developments with special references of Bangladesh, a developing nation, to pledge optimum use of its big and diversified human resources.

Keywords: Brain drain, Skill migration, Globalization, Sustainable development, Human resources, Remittance.