Large numbers of doctors, engineers, and other skilled workers from developing counties choose to move to other countries. Do their choices threaten development? The answer appears so obvious that their movement is most commonly known by the pejorative term “brain drain”. This paper...

Why do rich countries receive the lion's share of international investment flows? Although this "wealth bias" is strong today, it was even stronger during the first global capital market boom before 1913. Very little of British capital exports went to poor countries, whether colonies or not....