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The tale of two international phenomena: International migration and global imbalances

Dramane Coulibaly (), Blaise Gnimassoun () and Valérie Mignon ()

No 2018-24, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: Following the dynamics of globalization, international migration has increased dramatically since the 1990s. Given that these migrations may obscure the natural demographic structure of nations, they are likely to explain a significant part of global imbalances. This paper tackles this issue by investigating the role played by international migration in the dynamics of global imbalances. To this end, we rely on an overlapping generations model to derive the theoretical relationship between international migration and current account position. Through a series of robust estimates, we empirically investigate this relationship by relying on a panel of 157 developed and developing countries over the period 1990-2014. Our results point to substantial effects of international migration. Specifically, we show that an increase in migration improves national savings and the current account balance in the destination country, while it has opposite impacts in the origin country. These effects are particularly pronounced in developing economies, and attenuated by migrants' remittances.

Keywords: International migration; current account; global imbalances; remittances (search for similar items in EconPapers)
JEL-codes: F22 F32 O55 C33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-int, nep-mig and nep-opm
Date: 2018
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Working Paper: The tale of two international phenomena: International migration and global imbalances (2018) Downloads
Working Paper: The tale of two international phenomena: International migration and global imbalances (2018) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2018-24

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