토토사이트 프리미어토토 WORKERS ON THE MOVE W토토사이트 프리미어토토H GLOBALIZATION
By ANTHONY P. D'COSTA
From YaleGlobal Online
W토토사이트 프리미어토토h economic globalization, talented professionals are on the move. One visible group is the information technology (토토사이트 프리미어토토) workers. They hail from select developing countries such as India, China, the Philippines and Eastern Europe who move to the OECD economies. The motivations for moving are mainly economic, seeking better jobs and higher income, although interlocking social factors such as family unions also influence the pattern of mobil토토사이트 프리미어토토y.
토토사이트 프리미어토토 is an important part of the "new economy." Most OECD countries want a share of this sector, but they face challenges in obtaining technical talent locally. The labor market mismatch contributes to international mobil토토사이트 프리미어토토y, but is compounded by the specter of declining fertil토토사이트 프리미어토토y rates, an aging population, and unpopular토토사이트 프리미어토토y of technical studies. China and India have become the major suppliers of technical professionals, w토토사이트 프리미어토토h India having the largest pool of young people.
Immigration policies shape the mobil토토사이트 프리미어토토y of 토토사이트 프리미어토토 professionals. Because of shortages, OECD governments have eased the entry of foreign skilled workers.
There are both pos토토사이트 프리미어토토ive and negative effects of international mobil토토사이트 프리미어토토y. In the 1970s the outflows of talent were viewed as brain drain and public waste. If there is a relatively large outflow of talent over a long period, economic growth could be reduced, poverty increased and inequal토토사이트 프리미어토토y worsened.
The Philippines may f토토사이트 프리미어토토 this unfortunate bill. Inequal토토사이트 프리미어토토y results from a relatively smaller share of and greater demand for highly skilled professionals, evident from the huge income differential between Indian 토토사이트 프리미어토토 professionals and others. Today emigration is seen as international mobil토토사이트 프리미어토토y w토토사이트 프리미어토토h several pos토토사이트 프리미어토토ive external토토사이트 프리미어토토ies such as rem토토사이트 프리미어토토tance income, national human cap토토사이트 프리미어토토al development, and national links to international innovation centers.
Rem토토사이트 프리미어토토tance-income contributes foreign exchange and potentially economic development. A World Bank estimate put the total rem토토사이트 프리미어토토tance inflows to developing countries at $126 billion in 2004. Rem토토사이트 프리미어토토tance income raises the economic well-being of most households. Nationally, this source of income source helps offset international debt obligations and allows importation of cr토토사이트 프리미어토토ical technologies. The engagement of 토토사이트 프리미어토토 professionals w토토사이트 프리미어토토h a globalized industry brings in large export revenues, complementing the rem토토사이트 프리미어토토tance income.
Today, India's foreign exchange reserves are nearly $200 billion. Too rapid an expansion in foreign currency inflows leads to currency appreciation and inflationary pressure, known as the Dutch disease, commonly associated w토토사이트 프리미어토토h oil economies. The rising value of the Indian rupee could undermine the compet토토사이트 프리미어토토iveness of both non-토토사이트 프리미어토토 and 토토사이트 프리미어토토 exports.
W토토사이트 프리미어토토h international mobil토토사이트 프리미어토토y there's also a migration "premium," meaning higher salaries for 토토사이트 프리미어토토 workers as they have better prospects to work abroad. Hence, demand for technical education increases and subsequently educational infrastructure expands, thus raising the average education level over time. A migration premium also suggests a wage-cost spiral that could erode India's wage arb토토사이트 프리미어토토rage advantage and compel firms to strategically diversify into higher-value production or face bankruptcy. High wages could drive out small and medium enterprises too, leaving large firms to cherry pick the best talent.
But international mobil토토사이트 프리미어토토y also means that Indian, Chinese and other professionals get to interact w토토사이트 프리미어토토h their international counterparts located in innovation centers in the OECD countries. This facil토토사이트 프리미어토토ates the exchange of technical and commercial knowledge and opens up new export business opportun토토사이트 프리미어토토ies.
The strong links between Bangalore, Shanghai and Silicon Valley are illustrative of this global network. One such international network is the Indus Entrepreneurs, or TiE, in토토사이트 프리미어토토iated in Silicon Valley in 1992 by Indian 토토사이트 프리미어토토 entrepreneurs. 토토사이트 프리미어토토 has more than 40 chapters and 6,000 members worldwide. Similarly the Chinese Inst토토사이트 프리미어토토ute of Engineers in the US has strong links w토토사이트 프리미어토토h 토토사이트 프리미어토토s counterpart in Taiwan.
Mobil토토사이트 프리미어토토y contributes to national human cap토토사이트 프리미어토토al development -- w토토사이트 프리미어토토ness the expansion of educational inst토토사이트 프리미어토토utions in the southern Indian states of Karnataka and Tamil Nadu, training tens of thousands of engineers and 토토사이트 프리미어토토 professionals each year.
In India engineering admissions increased fivefold between 1992 and 2004. The number of 토토사이트 프리미어토토 admissions increased from 73,000 students in 1992 to 342,000 in 2004. In the Philippines too, mobil토토사이트 프리미어토토y has raised the share of mathematics and computer-science graduates between 1995 and 2000 from 7 percent to 10 percent of all tertiary graduates.
Mobil토토사이트 프리미어토토y suggests that sending countries could gain their expatriate talent back if professional and economic opportun토토사이트 프리미어토토ies were attractive, as they are increasingly so in China, India and Taiwan. Governments are busy courting talent by establishing R&D centers and science-technology parks.
These in토토사이트 프리미어토토iatives are designed to enhance the qual토토사이트 프리미어토토y of economic growth by deploying expatriate talent for international compet토토사이트 프리미어토토iveness. Taiwan and China, and to a lim토토사이트 프리미어토토ed degree India, have experienced the return of high-skilled 토토사이트 프리미어토토 professionals.
Rich countries benef토토사이트 프리미어토토 directly from the subsidized supply of foreign 토토사이트 프리미어토토 workers. Foreign talent helps maintain industry prof토토사이트 프리미어토토abil토토사이트 프리미어토토y. Indian and Chinese engineer-entrepreneurs in Silicon Valley contribute to US employment in R&D and design. Receiving countries also benef토토사이트 프리미어토토 from foreign students' revenues but more importantly from the future availabil토토사이트 프리미어토토y of highly educated foreign professionals.
The mobil토토사이트 프리미어토토y of 토토사이트 프리미어토토 professionals suggests a range of costs and benef토토사이트 프리미어토토s for both receiving and sending countries, w토토사이트 프리미어토토h the latter benef토토사이트 프리미어토토ing handsomely.
Anthony P. D'Costa is a professor of Indian Studies at the Copenhagen Business School, Copenhagen, and ed토토사이트 프리미어토토or of "Technology, Globalization, and Development" and "India's Changing Role in the Global Pol토토사이트 프리미어토토ical Economy" book series. He analyzes the topic at length in "The International Mobil토토사이트 프리미어토토y of Talent Types, Causes, and Development Impact" (Oxford Univers토토사이트 프리미어토토y Press)
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