Immigration Policy in an Era of Globalization: A Joint Conference with Southern Methodist University
Christina Daly and
Pia M. Orrenius
Annual Report, Globalization and Monetary Policy Institute, 2011, 35-38
Migration is sometimes termed the ?last frontier? of globalization. While markets such as those for goods and financial exchange are highly globalized, labor markets remain largely domestic. Only 3 percent of the world?s population have migrated from their country of birth. The paucity of migration means that large cross-country wage differentials persist, exacerbating global inequality. It also suggests that large gains from enhanced labor mobility remain possible.
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