The Economics of Migration and Remittances

Abstract Cameroon international emigration pattern turned from an elite education-type of migration to a more adventurous type following the 1980s economic crises. More young Cameroonians aspired to escape economic hardships and find jobs especially in developed countries. Migration is more a family’s decision where the family invests in the costs of migration and in return, expects the migrant to send remittances. Remittance inflows spiked over the past decades and have replaced foreign direct investments. With a strong and educated diaspora abroad especially in OCED, Cameroon has a great opportunity to tap into their human, financial, and social capital to boost its economic transformation and create good jobs for those left behind.