International Journal of Research in Economics and Social Sciences
Year : 2016, Volume : 6, Issue : 4
First page : ( 337) Last page : ( 345)
Online ISSN : 2249-7382.

Refugee Crisis: Responses to Harness Economic Potential

Neha

Research Scholar, Centre for European Studies Jawaharlal Nehru University, Contact No. +91 9871261365, Email: nehakishore91@gmail.co

Online published on 20 April, 2017.

Abstract

The refugee crisis has burgeoned into a humanitarian predicament with no end in sight. And yet, countries around the world have been shirking their responsibilities using the rhetoric of protecting economic and security interests of their native population. This paper analyses the potential economic benefits of refugees on the host country. It refutes common fears that refugees will take up local people's jobs and lower their wages. The paper argues that refugees can plug the missing links in labour supply which the most developed countries such as Germany and the US are facing today. It highlights both the short term and long term gains in economic growth the West can make if it makes a genuine attempt to integrate the refugees. Suggestions are made regarding policies and measures that states should adopt to unlock the potential of refugees. The prospects of a public-private partnership which can turn the humanitarian crisis into an opportunity for all is also explored. Adequate institutional and business sector response can find sustainable and market based solutions that can convert this liability into an asset for the countries affected. The paper also highlights the role that private sector, with its comparative advantage in innovation and technology, can play in addressing the emergency. Adopting these policies can give the necessary boost that slowing economies and ageing societies in the West need today.

Top

Keywords

refugees, economic benefits, policies, private sector, integration.

Top