- To focus on literatures based on brain drain in details for exploring the knowledge-based firms.
- To study the factors influencing the brain drain and its consequences
- Study the techniques and suggestions to suppress the phenomenon of brain drain in Taiwan
Modern day economic growth theories show that there are some other economic growth channels open via R&D. the first model constructed in this dissertation with this viewpoint examines the likeliness of beneficial brain drain with respect to integrated growth and R&D of human capital. The second issue is associated with the factors accomplishing brain circulation (Piras, 2013). Some of the works in the brain drain literature identify wage premium to be the economic incentive which attracts emigrants who are highly skilled to return to the sending country. Thus, it is clear that improved economic environment also inverses the phenomenon of brain drain. Thus, the 2nd model constructed in this thesis is based on analysis of the possibility of accomplishing the brain circulation process by improving the economic environment (Pi-Chug, 2007).
As per the literature views of olden days, the migration of human capital acts like a curse on the developing nations. Thus, it is important to develop policies which can reduce or oppose the negative impact of such migration on emigration nations (Ngoma and Ismail, 2013). Nevertheless, the word ‘brain drain’ has been contrasted to ‘brain gain’ in modern day theoretical debates. Some literature has also considered the advantages of skilled migration like increased capital flows, knowledge, remittances and trade like increased FDI and skills acquired by the returning migrants in a destination country (Pi-Chug, 2007). Thus, brain drain is a spontaneous phenomenon accompanied by the decision of skilled individuals to select a place to live and work in. This phenomenon is not affected by any state administration or policy-makers. This research paper is an attempt to deeply examine the growing concern of brain drain and reflect on the factors influencing the brain drain phenomenon and ways to suppress it.