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Publications (22)
Working Paper
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– Open Migration Chains and Diaspora Networks
The paper views migration of skills from a perspective of new industrial policy. It introduces two types of search networks: open migration chains and diaspora networks. Migration chains are sequences of educational or job opportunities which allows a migrant to move to progressively complex...
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– Trends and Development Implications
This paper charts the complex dynamics of the movement of technical talent in the world economy and assesses broadly the impact of such mobility on both sending and receiving countries. Based on secondary data and primary information from the Indian and Japanese IT industry, the study presents a...
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By 2000, over one-third of Silicon Valley’s high-skilled workers were foreign-born, and overwhelmingly from Asia. These US-educated engineers are transforming developmental opportunities for formerly peripheral regions as they build professional and business connections to their home countries. In a...
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– Professional Mobility and Power Distribution
The role of international organizations grows with the acceleration of globalization and the increasing importance of global governance. However, thus far, only limited and rather narrow research has been generated on the subject. It is a state of affairs that reflects on international studies, as...
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Artists, musicians and writers have always been great travellers. Today, their talent circulates in new ways, and takes new forms, as the creative industries expand globally in a marriage of media technology and the traditional arts. The growing international market for cultural talent can do much...
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Human talent is a key economic resource and a source of creative power in science, technology, business, arts and culture and other activities. Talent has a large economic value and its mobility has increased with globalization, the spread of new information technologies and lower transportation...
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– Policy Options for Turning a Drain into a Gain
High demand for researchers and scientists has led to an increase in skilled migration in recent years. The paper focuses on improving our understanding of the push and pull factors affecting the migration decisions of researchers and scientists from developing countries and discusses policy options...
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– Brain Drain or Brain Exchange?
The consequences of health professional mobility have become a prominent public policy concern. This paper considers trends in mobility amongst doctors and nurses and the consequences for health systems. Policy responses are shifting from a reactive agenda that focuses on stemming migration towards...
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The paper studies the trend towards the use of securities as a vehicle to transfer capital to developing economies, and how it is linked to the increasing use of derivatives transactions in developing countries. It also provides a descriptive analysis of how each type of capital vehicle is...
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This paper explores the complementary use of two instruments to manage capital-account volatility in developing countries: capital-account regulations and counter-cyclical prudential regulation of domestic financial intermediaries. Capital-account regulations can provide useful instruments in terms...
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– An Overview
In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (rising external deficit, with a significant liquid component appreciating exchange rates; low capital formation...
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This paper addresses the nature of the demand schedule for emerging market assets in both its macroeconomic and microeconomic dimensions. The former is usually analysed in terms of the ‘push factors’ (such as interest rates or contagion) determining international capital flows; while the latter is...
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– Crossing the Border
This paper has two aims. The first is to provide some explanation for the extraordinary collapse in cross-border bank lending to developing countries which has taken place since 1997. The second is to argue that it might be too simplistic to characterize banks’ behaviour in the past few years as a...
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– The Experience of Latin America since the Tequila Crisis
The paper deals with changes in the regulation and supervision of the Latin American financial sector in the aftermath of the ‘Tequila Crisis’ of 1994–95. While it finds that both have improved, regulation and supervision cannot resolve all problems; good macroeconomic policy and performance are...
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– Water Flowing Uphill?
International bank lending is a major component of capital flows between advanced and emerging economies. However, in recent years these flows have been going the wrong way, like water flowing uphill. Even four years after the Asian crisis, there is a net flow of funds from emerging economies to...
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– A Review of the Literature, Empirical Evidence and some Policy Proposals
For many emerging market economies, over reliance on monetary policy may bring worse macro results, when compared to a more balanced framework of countercyclical fiscal and monetary policy. The use of countercyclical fiscal policy requires as a precondition solvent and sustainable fiscal accounts...
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