Migration is generally defined as the movement of people from one place to another place. According to UNESCO (2016), migration is defined as the crossing of the boundary of a political or administrative unit for a certain minimum period of time. It includes the movement of refugees, displaced persons, uprooted people as well as economic migrants. Migration usually takes place within the one country, however with the occurrence of globalization and technological advancement, migrants (people who migrated) began to migrate to other countries. Usually the countries that are preferred by the migrants are developed countries where they can benefit from the giant economic growth of the country.
Inward migration is a controversial topic because it can be perceived as both a threat or an opportunity to the country receiving these migrants. Migration, as defined by the Oxford dictionary is the “movement of people to a new area or country in order to find work or better living conditions.” People will migrate if there are improved opportunities in their destination as it is human nature. This relocation will have an impact on the natives. Depending on the perspective, the impact can either be positive or negative or even both. The pros and cons of immigration are consistently up for debate as shown by the Eurobarometer poll, where immigration ranked fourth among 15 societal issues such as crime, environment and security, (Eurobarometer 65, 2007, pg.
Economic causes imply that people are migrating to find employments or to follow a precise way for their career. Political migration is a forced migration due to the fact that people are moving away to flee from political persecution or any type of war. There are factors that are the main causes for the migration. They can be classified into push and pull factors
Dynamic effect refers to anything that can affect a country’s rate of growth over a period of time, albeit, it can slightly differ from study to study. Balassa (1961) came up with a list of dynamic effects of economic integration that have to be considered when analyzing welfare effects of integration. When countries enter into a certain kind of integration, there will be economies of scale and technological changes. This in turn widens the investment opportunity and reduces risk and uncertainty. Furthermore, integration alters the market structure of member countries and makes it more competitive, this further leads to productivity growth.
a) The impacts of inter regional migration on the labour market depend on the abilities of migrants, the condition of the host economy and the abilities of local workers. They also differ between the long and short run when the labour and economy can adjust to the growth in labour supply. The immediate short run effects of inter regional migration on the employment and income of existing workers depend particularly on the extent to which migrants have skills that are substitutes or complements to those of existing workers. In case the skills of local existing workers and migrants are substitutes, immigration can be expected to expand competition in the labour market and decrease incomes in the short run. Additionally, the skills of migrants can be complementary to the local workers and all workers experience increased efficiency which can be expected to lead to a growth in the income of existing workers.
Other challenge is KPSB dependably get effected when the economy is getting down in light of the fact that there will impact their reputation and also their profit will loss because they depend on their projects to get profit. Political additionally is one of the challenge they have to have all the records to fire up the organization furthermore to begin the organization
Hong et. al (2008) Added that by entering into trade liberalization agreements, exporting industries could increase their marketing expenditure to the exporting country as they had lower tax rates to pay. Fosu (1990) found that trade agreements enabled the home country to concentrate investment on the sectors that had a higher competitive advantage. Trade liberalization has is known to bring benefits to the financial sector as well. By increasing exports, a nation is able to accumulate additional foreign exchange (Kemal et al 2002), promote additional saving and investment (Todaro, 2000) which may lead to an additional growth of exports thus creating a virtuous cycle.