Press Release New paper on barriers to trade and migration
Implement DOHA and get $3000 billion a year in return. Increase global migration and get an additional $39 trillion over 25 years in return, according to new study commissioned by Danish think-tank, the Copenhagen Consensus Center …
Copenhagen, Denmark (March 19, 2008) – Protectionist sentiment and fear of globalisation are on the rise putting at risk enormous economic benefits for developing and developed countries alike. The Copenhagen Consensus Center, whose purpose is to weigh the costs and benefits of solutions to the world’s biggest problems, recently commissioned new research into the merits of reducing the barriers to international trade and migration. The research shows astonishing economic rewards to be gained from implementing the DOHA round of trade negotiations and lowering the barriers to international migration. There are costs, but the benefits, not the least for developing countries, are truly phenomenal. For each dollar in costs of adaptation, re-education and restructuring, the world would receive hundreds of dollars in benefits. Lowering the barriers to trade and migration has become such a hot political issue with voters that the world risks loosing out on considerable economic gains over the next 25-50 years. If some leaders of major European countries or the US Presidential candidates have their way, instead of lowering these barriers and cashing in on the major rewards the world is soon to see strengthened barriers and a substantial loss of economic growth. The analysis of ways to deal with barriers to trade and migration forms part of the global policy project Copenhagen Consensus 2008 which involves more than 50 international economists including 5 Nobel Laureates. The project investigates the costs and benefits of solutions to ten of the world’s biggest challenges: Malnutrition and hunger, conflicts, air pollution, diseases, terrorism, subsidies and trade barriers, women and development, sanitation and water, education and global warming. Bjorn Lomborg, Ph.D., director of the Copenhagen Consensus Center in Denmark, commented that ”this paper demonstrates the amazing opportunities in achieving high gains for low costs, and thus continues the string of high quality papers for the Copenhagen Consensus demonstrating the smart top investments for humanity.” The analysis of trade and migration is the second study for the Copenhagen Consensus 2008. The first study was terrorism which received a lot of international attention: Project Syndicate op-ed by Bjorn Lomborg and Todd Sandler: Re-thinking counter-terrorism Reuters article: Security spending fails to curb terror toll - study Bjorn Lomborg on CNN – World News, March 5, 2008 (search: ‘Lomborg’) The Economist article: Anti-terrorist spending - Feel Safer Now? (for online subscribers only) For interviews or comments contact Head of Communication Tommy Petersen, tp.ccc@cbs.dk, +4538152252. For the full paper and more details on Copenhagen Consensus 2008, visit www.copenhagenconsensus.com COPENHAGEN CONSENSUS CENTER COPENHAGEN BUSINESS SCHOOL • SOLBJERG PLADS 3 • 2000 FREDERIKSBERG • DENMARK +45 3815 2255 • INFO.CCC@CBS.DK • WWW.COPENHAGENCONSENSUS.COM