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Let's Do the Numbers: CGD Launches Commission on Migration Data for Development Research

What is the biggest distortion in the world economy? A forty-percent price gap for identical widgets traded in two different markets is considered large these days. In capital markets, investors would be shocked by a price difference of one percent for the same security in two different exchanges. But in the global labor market, wage gaps for equivalent workers differ between countries by one thousand percent or more in some cases.