Economic Migration and Refugee Crises: Impact on Wages, Employment, Economic Growth, and Human Capital

Abstract

The economic effects of migration, including both voluntary economic immigration and forced migration through refugee crises, have been a significant subject of research in recent years. Immigration impacts labor markets, wages, employment, and long-term economic growth of receiving countries, while refugee crises present unique challenges in terms of integration into labor markets. This paper explores the economic impact of immigration on wages and employment in receiving countries, investigates the economic challenges of integrating refugees and displaced populations, and examines the effects of skilled migration (brain drain and brain gain) on both sending and receiving countries. The study synthesizes existing research while contributing new insights into the effects of different types of immigration on national economies, with a particular focus on the role of integration policies. Using a mixed-method approach, this paper examines quantitative data from OECD countries, case studies from EU refugee policies, and the effects of skilled migration on developing countries. The findings show that while immigration generally contributes positively to economic growth, challenges in refugee integration and brain drain management need targeted policy interventions.