The economic migration of people has lagged substantially behind that of capital and trade. That's largely because barriers to the movement of people remain high. Pressures for enhanced migration are rising, certainly in the less-developed origin (O) countries but also in some quarters of the...

Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically...