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The Brain Drain, International Integration of Markets for Professionals and Unemployment: A Theoretical Analysis

Jagdish N. Bhagwati; Koichi Hamada

Title:
The Brain Drain, International Integration of Markets for Professionals and Unemployment: A Theoretical Analysis
Author(s):
Bhagwati, Jagdish N.
Hamada, Koichi
Date:
Type:
Articles
Department(s):
Economics
Volume:
1
Persistent URL:
Book/Journal Title:
Journal of Development Economics
Abstract:
These are useful insights into the problem of the ‘brain drain’. However, admittedly, the analysis is overly simple and could be extended in many directions. An obvious growth-theoretic extension would be to bring in savings behavior and maximization of welfare over time for those left behind. Or, within the confines of the Hicks-Samuelson model, the analysis could be enriched to allow for remittances from the emigrated people: an argument which qualifies the conclusions in favor of permitting the brain drain. The neoclassical model could further be extended fur/y in the direction of trade- theoretic models with factor movements: the effect of the labor migration on the commodity terms of trade of the labor-losing country could be readily analyzed along the lines of the recent Jones (1967) and Kemp (1966) contributions to the welfare theory of international capital movements.
Subject(s):
Economics
Publisher DOI:
https://doi.org/10.1016/0304-3878(74)90020-0
Item views
580
Metadata:
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Suggested Citation:
Jagdish N. Bhagwati, Koichi Hamada, , The Brain Drain, International Integration of Markets for Professionals and Unemployment: A Theoretical Analysis, Columbia University Academic Commons, .

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