Immigration Policy in an Era of Globalization: A Joint Conference with Southern Methodist University

Migration is sometimes termed the “last frontier” of globalization. While markets such as those for goods and financial exchange are highly globalized, labor markets remain largely domestic. Only 3 percent of the world’s population have migrated from their country of birth. The paucity of migration means that large cross-country wage differentials persist, exacerbating global inequality. It also suggests that large gains from enhanced labor mobility remain possible.