Migration dynamics, growth and convergence

The aim of the present paper is to analyze the impact of migration dynamics on economic growth and convergence in terms of both the capital/labor ratio and wages. From our results, the following main conclusions can be highlighted: (1) migration positively affects the sending country because of the improvement in the capital/labor ratio and the savings of returning workers; (2) the differences existing between countries do not necessarily disappear in the long term, so the convergence that arises is limited or conditional because it does not necessarily imply an equalization of per capita income, capital/labor ratio, and wages, or the disappearance of migration; and (3) the possibility of migratory flow reversion cannot be excluded in the transitory dynamics.