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An examination of the consequences of migration in terms of several micro variables focuses on some selected pioneering rural pockets of Sylhet and Chittagong, Bangladesh, where overseas migration has occurred on a mass scale for about 20 years. Data were collected during November 1983 from 230 households, some with and some without migrant workers. The study reveals the economic effects of mass migration of labour in the study area in relation to agricultural and non-agricultural production, household consumption, saving and investment behaviour of migrants, capital formation in the study villages, employment, infrastructure, and local price levels. The social effects of the migration are highlighted in terms of education, demographic characteristics, family structure and social values. Finally, the stucture of the political economy resulting from migration is examined.