Welfare-Theoretical Analyses of the Brain Drain

The paper reviews and synthesises the theoretical analyses of the brain drain in the earlier literature and in the present symposium in the Journal on the subject. Static analysis and dynamic analysis are distinguished, critical issues are raised relating to how welfare changes should be discussed in the context of migration, and possibilities of fruitful future research are outlined

Foreign Ownership and the Theory of Trade and Welfare

Some standard topics in the theory of international trade are reconsidered in this paper by distinguishing between national and aggregate income when fixed supplies of foreign inputs are present within the home country. Under conditions that would ensure a national welfare gain if\u27 foreign ownership were absent, international transfer, economic growth, or tariff policy might cause a national welfare loss in the presence of foreign ownership. The techniques developed could be applied to other domestic distinctions (such as those based on race, sex, age, or ethnicity) and to the theory of\u27 customs unions in a three-country world

The Global Correspondence Principle: A Generalization

This paper generalizes the Global Correspondence Principle by extending, in two major ways, Paul Samuelson\u27s 1971 analysis of the exchange rate response to an international purchasing-power transfer. We analyze the price effect of a shift in any parameter, not necessarily a transfer. We then explore the resulting adjustments in any nonprice variable such as we/fare. As our analysis shows, the direction of these adjustments depends neither on whether they are small or large nor on whether equilibrium is locally stable or unstable

Trade, Balance of Payments and Growth

Reviews the book Trade, Balance of Payments and Growth, edited by J. Bhagwati, R.W. Jones, R.A. Mundell and J. Vanek

Assessing livelihood-ecosystem interdependencies and natural resource governance in Indian villages in the Middle Himalayas

© 2018, The Author(s). Mountains host high biological and cultural diversity, generating ecosystem services providing benefits over multiple scales but also suffering significant poverty and vulnerabilities. Case studies in two contrasting village communities in the Indian Middle Himalayas explore linkages between people and adjacent forest and river ecosystems. Interviews with local people and direct observations revealed low food availability and decreasing self-sufficiency, under the combined pressures of increasing foraging by wildlife (primarily pigs and monkeys) coupled with seasonal to permanent outmigration by younger men seeking more secure income and alternative livelihoods. Much of the income remitted by migrants to their villages was not retained locally but flowed back out of the Himalayan region through purchases of food produced and marketed in the plains. This threatens the economic viability of villages, also placing asymmetric pressures on resident female, elderly and young people who concentrate labour on local livestock production to the neglect of crop agriculture, further compounding land abandonment and wildlife foraging. Significant traditional knowledge remains, along with utilitarian, cultural and spiritual connections with the landscape. Many beneficiaries of locally produced ecosystem services are remote from village communities (particularly water flows downstream to the plains), but no recompense is paid to stewards of the forested Himalayan landscape. Although local people currently perceive high biodiversity as a constraint to agriculture and other economic activities, the Himalayan landscapes could potentially constitute an asset with appropriate institutional development through promotion of managed bioprospecting, guided ecotourism and payment for ecosystem services (PES) schemes for water supply and under REDD+

The Global Correspondence Principle: A Generalization

This paper generalizes the Global Correspondence Principle by extending, in two major ways, Paul Samuelson's 1971 analysis of the exchange rate response to an international purchasing-power transfer. We analyze the price effect of a shift in any parameter, not necessarily a transfer. We then explore the resulting adjustments in any nonprice variable such as welfare. As our analysis shows, the direction of these adjustments depends neither on whether they are small or large nor on whether equilibrium is locally stable or unstable