Financial liberalization and the selection of emigrants: a cross-national analysis

Mitra, Aniruddha; Bang, James T.; Wunnava, Phanindra V.

doi:10.1007/s00181-013-0735-0

Cited by 5 publications

(3 citation statements)

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“…Yet the literature has almost completely ignored the impact of liberalization on the volume of remittance inflows. The purpose of this inquiry is to fill this void by investigating the impact of financial liberalization on the inflow of formal remittances to a sample of 84 countries considered at five-year intervals over the period 1986-2005. Our analysis is motivated by the idea that liberalization of the financial sector is a multidimensional phenomenon (Abiad and Mody 2005;Abiad, Detragiache, and Tressel 2010;Mitra, Bang, and Wunnava 2014) and various dimensions of liberalization differ in their consequences for remittances. Further, the impact of the same dimension may differ over time.…”

Section: Introductionmentioning

confidence: 99%

Financial liberalization and remittances: Recent panel evidence

Bang

Mitra

Wunnava

2015

The Journal of International Trade & Economic Development

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We investigate the impact of financial liberalization on remittances to 84 countries over the period 1986-2005. Explicitly accounting for the multidimensionality of financial reform, we find that the various dimensions impact remittances differently: Increased economic freedom in the financial sector, as captured by absence of direct government control over the allocation of credit, has a positive and immediate impact. However, the improved robustness of financial markets, as captured by the development of security markets, improvement in the quality of banking supervision, and removal of stringent restrictions on interest rates and international capital, has a negative and lagged effect. The net combined effect reveals that financial liberalization may have a modest negative impact on remittances in the long run.

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Section: Introductionmentioning

confidence: 99%

Financial liberalization and remittances: Recent panel evidence

Bang

Mitra

Wunnava

2015

The Journal of International Trade & Economic Development

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“…According to Solimano (2002), beside other factors, the magnitude and direction of international migration flow are influenced by the state of business cycle and economic prospects in both sending and receiving countries. Mitra, et al (2011) explored the impact of financial liberalization on the migration of highly-skilled labor force to OECD countries. They used robustness of financial markets and their freedom as indicators of financial liberalization.…”

Section: Methodsmentioning

confidence: 99%

Brain Drain from Pakistan: An Empirical Analysis

Farooq¹,

Ahmad²

2017

Forman j. econ. stud

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The paper is an attempt to empirically analyze the drivers of emigration of highlyqualified and highly-skilled manpower from Pakistan to 27 destination countries over the past 36 years. The econometric model employed is a bipolar specification of augmented gravity model, which is hybrid of pull-push factors of migration models and gravity model of migration. Then study constructs indices to measure drivers of brain-drain through the technique of principal component analysis. These indices are then used to analyze their potential role in the process of migration. The study finds that the main factors contributing to migration from Pakistan include the pull factors like better socioeconomic conditions in the destination countries and push factors associated with demographic and labor market condition in Pakistan. Thus the empirical findings support the underlying demand and supply based theories of migration. Based on the findings of the study and keeping in view the importance of remittances that Pakistan receives from overseas Pakistanis, the study concludes that in an over-populated country like Pakistan, unplanned brain-drain needs to be reoriented to take the form of planned brain-export.

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“…In other words, a high value of the transparency factor reflects a high quality of existing institutions. This should predict a more favourable selection of highly skilled labour force to other developed countries (Mitra et al, 2011). Poor governance is driving the skilled labour out of the country and causing the problem of brain drain in the home country.…”

Section: Auto Regressive Distributed Lagsmentioning

confidence: 99%

Macroeconomic Determinants of Brain Drain in the Era of Globalization: Evidence from Pakistan

Kousar¹,

Ahmed

Bukhari

2020

Lib. Arts Soc. Sci. Int. J.

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The Brain Drain (BD) is a cynosure of all the eyes because it has become a grave issue for Pakistan. Every year, thousands of students graduate from colleges and universities. Our markets cannot accommodate such a huge number of graduates so; these people prefer to migrate to other parts of the world. This paper attempts to investigate the factors affecting brain drain in Pakistan by utilizing the data for 1990 to 2018. Indices of variables are constructed in this study to measure the potential of factors causing migration from Pakistan to other developed economies. Secondary data has been taken from the World Development Indicator (WDI) and the Bureau of Emigration and Overseas Employment (BEOE). This study finds that in long run governance, financial stability, the standard of living, and infrastructure have a negative and significant impact on the dependent variable (Brain drain). Social openness does not show a significant impact on brain drain in the long run. This study concludes that brain drain in developing nations is a serious matter and it should be addressed on a priority basis. This study helps policymakers to develop policies to reduce the migration of highly skilled labour.

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Financial liberalization and the selection of emigrants: a cross-national analysis

Cited by 5 publications

References 53 publications

Financial liberalization and remittances: Recent panel evidence

Financial liberalization and remittances: Recent panel evidence

Brain Drain from Pakistan: An Empirical Analysis

Macroeconomic Determinants of Brain Drain in the Era of Globalization: Evidence from Pakistan

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