Categories
Americas Economics

Brain Drain in Colombia

By Juan C. Gomez

Introduction

Migration is an extraordinarily complex issue that has gained immense international attention by world leaders in recent years, specifically how migration impacts countries that receive immigrants en masse, such as the United States. Migration’s impact, however, is not only felt by countries that receive migrants but also from migrant’s home country. Migration can have varying effects (positive and negative) on the sending country and can impact how the state develops economically, socially, and politically. The intersection between migration and development is a complicated nexus of factors, including the impacts of migration patterns on development. One interesting migration phenomenon that greatly impacts development is known as brain drain. Brain drain is an exodus of high-skilled immigrants (college education or higher) from developing to developed countries. Brain drain creates an economic loss in developing countries in two ways: investment loss of educating future migrants and weakening of high-skilled economic sectors. In the long-term these economic consequences weaken prospects for developing countries to create prolonged economic growth and advancement. [1]

Categories
Asia Economics

Buy Buy Baby: Why China and Japan Need Consumers to Combat Secular Stagnation

By Lucy Massey

Most developed nations are currently facing post-Great Recession economic sluggishness that has responded inadequately to both traditional fiscal and monetary policy tools. While the sources of this crisis lie in a vast array of social, political, demographic, and economic problems, one key issue for East Asia, in particular, is consumer spending. The potential for consumer spending to reinvigorate an economy is apparent in a careful analysis of the policies currently in place, those being proposed, and other solutions to this persistent East Asian stagnation. On the other hand, mishandling of consumer spending policy could lead down a slippery, economically stagnant slope. This paper will focus on China and Japan, charting the economic and fiscal policies which have led to and arguably perpetuated this crisis and analyzing the leading policy options to buck the downward trend.