Labour Migration and Economic Growth in East and South‐East Asia

East and South‐East Asia will face major demographic changes over the next few decades with many countries’ labour forces starting to decline, while others experience higher labour force growth as populations and/or participation rates increase. A well‐managed labour migration strategy presents itse...

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Bibliographic Details
Published in:World economy 2017-01, Vol.40 (1), p.116-139
Main Authors: Walmsley, Terrie, Aguiar, Angel, Ahmed, Syud Amer
Format: Article
Language:English
Subjects:
Economic development
Economic growth
GDP
Gross Domestic Product
Labor force
Labor migration
Labor shortages
Migrant workers
Migrants
Migration
Participation
Remittances
Simulation
Studies
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Summary:East and South‐East Asia will face major demographic changes over the next few decades with many countries’ labour forces starting to decline, while others experience higher labour force growth as populations and/or participation rates increase. A well‐managed labour migration strategy presents itself as a mechanism for ameliorating the impending labour shortages in some East Asia–Pacific countries, while providing an opportunity for other countries with excess labour to provide migrant workers who will contribute to the development of the home country through greater remittance flows. This paper examines such migration policy options using a global dynamic economic simulation approach and finds that allowing migrants to respond to the major demographic changes occurring in Asia over the next 50 years would be beneficial to most economies in the region in terms of real incomes and real GDP over the 2007–50 period. Such a policy could deeply affect the net migration position of a country. Countries that were net recipients under current migration policies might become net senders under the more liberal policy regime.
ISSN:0378-5920
1467-9701
DOI:10.1111/twec.12334