Meaning Of Brain Drain In Economics (Causes And Arresting Brain Drain)

Economics
Topic: Brain Drain
Table Of Content

• Definition Of Brain Drain
• Causes Of Brain Drain
• Effects Of Brain Drain On Nigeria Economy (Positive And Negative Effect)
• Controlling/Arresting Brain Drain

Meaning Of Brain Drain
What Is Brain Drain?
This is also known as Human Capital Flight, It is the mass emigration of the highly technically skilled and talented individuals who has been educated and trained with a country’s meager financial resources to more developed and rich country (ies) of America, Asia, Europe and even other African countries for opportunities. Almost every developing country is suffering from this phenomenon. Brain Drain becomes Brain grain to countries of destination of the emigrants, Nigeria has lost so many doctors, nurses, scientists, and other professionals as they go to sekk higher salaries and better working condition mainly in higher income countries of the West. This is having serious impact on the health, education & other sectors of the economy.
Causes Of Brain Drain
1. Absence of conductive environment
2. Political instability of a nation
3. Lack of opportunities as graduates, post graduates and skilled specialist always leave to escape bleak situations in their home countries.
4. War
5. Lack of recognition
6. Health risks
7. Inadequate funding
8. Corruption e.t.c
Effects Of Brain Drain On Nigeria Economy
Positive Effects
1. Capital receipt when migrants remit money home.
2. The loss of money in the country increase the wage rate for those who do not emigrate.
3. The country frees itself from the health pension problems of th emigrants.
Negative Effects
1. Perpetuates poverty due to loss of valuable human resources and prodcutives factor which hampers the country’s effort in getting out of poverty.
2. For going of the social returns on investment on the emigrants.
3. It leads to increased employment of foreign skilled labour to enable the country exploit local resources.
4. It reduces foreign exchange reserve of the country as the employed foreign skilled labour transfer their incomes to their home countries.
Controlling/Arresting Brain Drain
1. Provision of employment opportunity.
2. Provision of enabling environment for job satisfaction.
3. Good governance which leads to political inclusion and stability.