With an estimated 724 million extremepoor people living in developing countries, and the world’sdemographics bifurcating into an older north and a youngersouth, there are substantial economic incentives andbenefits for people to migrate. There are also importantmarket and regulatory failures that constrain mobility andreduce the net benefits of migration. This paper reviews therecent literature and proposes a conceptual framework tobetter integrate and coordinate policies for addressing thedifferent market and regulatory failures. The paper advancesfive types of interventions in need of particular attentionin terms of design, implementation and evaluation; namely,1) active labor market programs that serve local, regionaland foreign markets; 2) remittances and investment subsidiesto promote job creation and labor productivity growth; 3)social insurance programs that cover all jobs and facilitatelabor mobility; 4) labor taxes to internalize the socialcosts of migration in receiving regions; and 5) moreflexible, private sector driven schemes to regulate the flowof migrants and minimize irregular migration.
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