Human Capital Flight and Its Impact on the Emerging Economies of the Third World

Abstract

Over the years, the global economy has been divided between the rich and poor countries. While the rich/developed countries constitute 22 percent of the world population, the poor/developing economies have 78 percent. The Developing nations blessed with vast natural resources have continued to be plundered by developed nations. This resulted in abject poverty which has become the leading cause of human and capital flight as expertise from Third World continue to seek greener pastures abroad. The paper therefore, examines the negatives impacts of human capital flight on the emerging economies. Relevant literatures were consulted and the view of the dependence theory was highly considered in view of the implications of brain drain to emerging economies. Furthermore, various comparisons are drawn from different countries to demonstrate the net worth of brain drain which is highly detrimental to the growth of Africa economies. The paper also illustrates the absence of basic social amenities, which are equally considered the most determinant factors influencing human capital flight in Less Developed Countries (LDC). Finally, the paper draws conclusion and makes some recommendations.