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on Economics of Human Migration |
| By: | Natee Amornsiripanitch; Paul A. Gompers; George Hu; Kaushik Vasudevan |
| Abstract: | Immigrant founders of venture capital-backed companies have been critical to the entrepreneurial ecosystem. We document the channels through which immigrant founders find their way to the United States and how those channels have changed over time. Immigrants have been an important source of founders for venture capital-backed startups accounting for roughly 20% of all founders over the past 30 years. Immigrants coming to the United States for their education have been the primary source of founders with those coming after being educated abroad and then arriving for work decreasing in importance over time. The importance of undergraduate education as a channel for immigrant founders has increased over time. Immigrant founders coming for education are likely to start their companies in the state in which they were educated, especially states where they received their graduate education, leading to potentially large local economic benefits. The results of this paper have important policy implications for the supply of entrepreneurial talent and efforts to promote entrepreneurial ecosystems. |
| JEL: | G24 J0 J15 J24 L26 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28773&r= |
| By: | Surak, Kristin; Tsuzuki, Yusuke |
| Abstract: | Residence by investment (RBI) programmes, or ‘golden visa’ schemes, are now found in half of European Union member states. Yet no empirical studies have tested the economic drivers or impacts of these programmes. Filling this lacuna, this article supplies the first comparative quantitative evaluation of the economic origins and outcomes of so-called golden visa programmes in the European Union. Utilising new data, we show that governments across the political spectrum are more likely to begin RBI programmes after a decline in economic growth, especially during an economic crisis, and that the programmes are generally targeted to address failing areas of the economy. Furthermore, we show that wealthy investor migrants are better conceptualised as mobile populations akin to tourists or investors, rather than as immigrants, and that countries price programmes in response to both demand-side and supply-side forces. We also find that the programmes represent a miniscule proportion of foreign investment in most countries, and that the vast majority of the investments go into real estate even when other options are available. However, the impact on real estate markets is trivial, with the sole exception of Greece. The results suggest that states turn to golden visa programmes to plug short-term economic gaps but with negligible national-level economic impact. |
| Keywords: | migration; elites; foreign investment; European Union; globalisation; Taylor & Francis deal |
| JEL: | J1 |
| Date: | 2021–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110458&r= |
| By: | Javier Torres (Universidad del Pacífico); Francisco Galarza (Universidad del Pacífico) |
| Abstract: | We study the negative wage premium Venezuelan immigrants face in the Peruvian labor market in 2018, by merging two national household surveys. Consistent with an imperfect transfer of skills, we find that Venezuelans face, on average, a 40% discount on their hourly wage compared to Peruvians. Interestingly, there is heterogeneity in wage premiums across education levels and broad groups of fields of study. The higher the education level, the larger the negative wage premium. Venezuelans with low levels of education could earn a higher hourly wage than Peruvian. Further, Immigrants with careers related to Economics, Administration and Commerce face the least wage discount. Finally, we find that foreign work experience has negligible value in the host country. |
| Keywords: | Immigration, Economic Assimilation, Wage Gap. |
| JEL: | J15 J24 J31 J70 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:apc:wpaper:179&r= |
| By: | Juan Segnana; José Joaquín Endara |
| Abstract: | This paper provides detailed evidence on the short-term economic effects of the large and localized Rohingya migratory shock on the Bangladeshi host population. The analysis shows the welfare impact of changes in prices of goods on the host community due to the large population influx. Rice prices are significantly higher short after the population shock started but this does not extend to other food items. Rice is a prevalent staple in the consumption bundle of hosts, rice inflation underlies a great deal of variations in welfare. We have evidence of distributional effects due to variation in relative prices. We register large price variations for the main items consumed by Rohingyas and hosts right after the influx began. Our results show an immediate and temporary welfare loss for the bottom quintile which was eliminated and reversed due to a large food aid provided by the World Food Program (WFP) together with highly integrated markets. We consider humanitarian food aid in contexts alike crucial as a smoothing mechanism of demand-pull inflation. |
| Keywords: | Consumption, Food aid, Forced migration, Forced displacement, Host communities, Prices, Rohingyas, Welfare |
| JEL: | D12 F22 O15 P46 R2 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:aep:anales:4410&r= |
| By: | Daniel Graeber; Felicitas Schikora |
| Abstract: | Against a background of increasing violence against non-natives, we estimate the effect of hate crime on refugees’ mental health in Germany. For this purpose, we combine two datasets: administrative records on xenophobic crime against refugee shelters by the Federal Criminal Office and the IAB-BAMF-SOEP Survey of Refugees. We apply a regression discontinuity design in time to estimate the effect of interest. Our results indicate that hate crime has a substantial negative effect on several mental health indicators, including the Mental Component Summary score and the Patient Health Questionnaire-4 score. The effects are stronger for refugees with closer geographic proximity to the focal hate crime and refugees with low country-specific human capital. While the estimated effect is only transitory, we argue that negative mental health shocks during the critical period after arrival have important long-term consequences. |
| Keywords: | Mental health, hate crime, migration, refugees, human capital |
| JEL: | I10 J15 J24 F22 O15 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp1130&r= |