Daniele Checchi (University of Milan and IZA) Gianfranco De Simone (University of Milan and LdA) Riccardo Faini (University of Roma Tor Vergata, CEPR, LdA and IZA)
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It is commonly believed that accumulation of human capital (HC) and availability of physical and financial capitals are among the major determinants of economic growth. In a globalised world, where factors of production are increasingly mobile, the process of domestic accumulation of HC might be affected in several ways through migration and capital inflows. Furthermore, endowment of skilled labour and foreign direct investments (FDI) may reinforce each other through possible “complementary effects”. Our paper aims to advance the existing empirical literature on the relationship between international factor mobility and domestic accumulation of HC in developing countries. We provide new evidence on how the presence of foreign firms in the domestic economy and the emigration of skilled workers impact the domestic school enrolment. We also investigate whether existing supply of skilled labour is a significant determinant of inward flows of foreign capital. The interdependence between factor mobility and HC accumulation supports some simple back-of-the-envelop calculations aiming to investigate the presence of a virtuous (vicious) circle between HC accumulation and FDI inflows.
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Paper provided by Centro Studi Luca d\'Agliano, University of Milano in its series Development Working Papers with number
235.
Find related papers by JEL classification: F22 - International Economics - - International Factor Movements and International Business - - - International Migration F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
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