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"This book presents an economic survey of international capital mobility from the late nineteenth century to the present. The authors examine the theory and empirical evidence surrounding the fall and rise of integration in the world market. A discussion of institutional developments focuses on capital controls and the pursuit of macroeconomic policy objectives in shifting monetary regimes. The Great Depression emerges as the key turning point in recent history of international capital markets, and offers important insights for contemporary policy debates. Its principal legacy is that the return to a world of global capital is marked by great unevenness in outcomes regarding both risks and rewards of capital market integration. More than in the past, foreign investment flows largely from rich countries to other rich countries. Yet most financial crises afflict developing countries, with costs for everyone."

"ABSTRAKSetelah menikmati bonus demografi akibat peningkatan proporsi penduduk usia produktif, dunia kini menghadapi penuaan penduduk. Studi ini bertujuan untuk melihat dampak penuaan penduduk terhadap arus modal internasional menggunakan regresi panel fixed-effect. Untuk memperkuat analisis, studi ini juga melakukan regresi Pooled OLS dan regresi dalam setiap benua. Hasil dari sampel 167 negara menunjukan distribusi umur signifikan berpengaruh terhadap arus modal internasional. Distribusi umur memiliki hubungan kubik dengan arus modal internasional dan hubungan tersebut konsisten di setiap benua. Sampai proporsi umur 35-39, hubungan keduanya negatif. Hubungan keduanya positif hingga antara proporsi umur 65-69 dan 70-74, lalu kembali negatif. Studi ini menyimpulkan bahwa struktur demografi memiliki dampak pada arus modal internasional dan, berlawanan dengan kepercayaan pada umumnya, penuaan penduduk mendorong terjadinya arus modal ke dalam negara tersebut.

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ABSTRACTAfter decades of enjoying demographic dividend due to higher share of productive age population, the world now is entering a new phase of demographic transition, the aging population. This study aims to find its impact towards international capital flow, using fixed effect panel regression. To supplement that, this study also carried out pooled OLS and regression within each continent. The result from 167 sample countries shows that age distribution has a significant impact towards international capital flow. The result shows significant ldquo humpback rdquo shape relationship between the two variable and consistent in every continent. At first, increase in age will decrease net capital outflow from a country. The trend will reverse into positive relationship at age share 35 39 year. Between the age share 65 69 and 70 74, the trend will be reversed again into negative. Two key messages learned from the study. First, population does matter for international macroeconomics variable. Second, against the common conception, aging population does not create capital flight but capital inflow."

"This book is about migration futures: the transnational movement of people and the portability of skills in a globalizing world. It explores why in recent decades, development has produced outcomes so different from what was proclaimed to be its goal resulting in the Great Divergence-a world unequal as never before. International migration must be seen in the context of the political economy of development and as the natural corollary to international trade and capital. In the post 2015 development context, sustaining global economic growth rates, expanding economic opportunity, democratizing human welfare, and progressing towards an equitable and just global order will be predicated substantially on the free movement of people. Over time, the policy and practice on international migration of most countries has only become more restrictive. The consequence has been high costs-both fiscal and human. The barriers to freer economic migration have distorted development outcomes globally. There is urgent need for a global framework that is rule based, non-discriminatory, and democratic to govern the transnational movement of people. The scale and spread of the Indian experience in migration as well as development and the intimate interplay of these two complex processes is matchless. International migration is as important for the world as for India to be left to uninformed debate or fragmented interventions. The challenge is to articulate a coherent policy framework and undertake coordinated modes of engagement. Failure to mainstream economic migration will jeopardize the basis of a modern, progressive, and democratic future for all."