Демографската промяна като детерминант на глобалното движение на труд и капитал

Abstract

This paper explores the connection between demographic transitions, mass migrations and international capital flows. In the present the two halves of the world are in different demographic phases. The elderly OECD may send its capital surplus on the young Third World carrying a capital deficit, while the young Third World may send its labor surplus on to the elderly OECD struggling with labor scarcity. Will policy allow global labour and global capital markets to make this intergenerational transfer?