About Ed WilsonEd Wilson has been president of the Economic Society of Australia, NSW for the last five years and is associate professor at the University of Wollongong, Australia. His research interests are in macroeconomic modeling and empirically estimating the determinants of economic growth and productivity and the consequences of policies to reduce poverty in Asia.
While there has been strong promotion of free global trade in goods and services as well as in capital inputs, the case has not been made so forcefully for increasing the international mobility of the other factor of production, labor. A recent article in The Economist, Free Exchange—Border Follies, surveys the latest research on the potential benefits of increasing international labor migration (The Economist 17 November 2012). The estimates are staggering, with possible increases in world output and income ranging from 30% to 100% (amounting to an additional $20 trillion to $70 trillion) depending on the level of migration assumed. These calculations swamp the potential benefits of increasing international trade, which is estimated to be less than 3% of global output. The research shows that the gains come from migration-induced productivity increases in the host country and the additional incomes are more than sufficient to compensate for any adverse effects, for example, if wages for some host country workers fall in the short term. Remittances (worth around $300 billion a year) are also sent to the migrant source countries to compensate those who stay behind. Read more.
Subscribe / Connect to Asia Pathways
- Agriculture and rural development
- Information and Communications Technology
- Poverty Reduction
- Public-Private Partnership
- Regional Cooperation
- Social Development and Poverty
- Video Blog
- Is Indonesia’s subsidized rice program benefitting its children?
- Young Small and Medium-Sized Enterprises and Bank Credit Denials: Evidence from Europe
- What Do Structural Economic Reforms Promise for the Future of Azerbaijan?
- Impact of Retaliatory Trade Enforcement Actions on the World Trade Organization and Trade Governance
- Next generation of quality development and investment in the new Pacific trade pact
- Energy Efficiency: The Cornerstone for Achieving SDG 7 on
- Energy strategies must consider all parts of the ‘energy trilemma’ on
- Exploring the trade–urbanization nexus in developing economies: evidence and implications on
- Escaping the middle income trap: Innovate or perish on
- Hometown investment trust funds: A sustainable solution for financing green energy projects on