This paper reviews the extent and policy implications of linkages between demographic changes and international factor mobility. Evidence is found of significant demographic effects on both migration and the current account, but for different reasons neither increased migration nor international transfers of savings is expected to offer much assistance in digesting the variety of demographic transitions expected over the next fifty years. The paper also examines more briefly the effects of demography on the factor content of international trade, as exemplified by offshore provision of back-office and other services previously provided closer to home. When considering the consequences of using international capital movements and especially migration to mediate international differences in demographic patterns, I broaden the focus from the usual economic variables, such as the size and distribution of incomes and employment, to consider explicit measures of well-being, which have been shown to depend on far more than economic variables. This has implications for a whole range of policies, both domestic and international, that might help deal with national and global demographic transitions.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
10945.
Length: Date of creation: Dec 2004 Date of revision: Handle: RePEc:nbr:nberwo:10945
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Find related papers by JEL classification: F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance F2 - International Economics - - International Factor Movements and International Business
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Timothy Hatton & Jeffery Williamson, 2002.
"What Fundamentals Drive World Migration?,"
CEPR Discussion Papers
458, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University.
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Engel, Charles & Rogers, John H, 1996.
"How Wide Is the Border?,"
American Economic Review,
American Economic Association, vol. 86(5), pages 1112-25, December.
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