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JEL Classification System

C33, F22, H56

Abstract

This study investigates the factors influencing brain drain, the flight of human capital from their home country. The study examines the drivers of brain drain by looking into the effects of the following: global peace index, CO2 emissions per capita, real minimum wage, and happiness index and its individual indicators. Using pooled OLS on an unbalanced panel, the results reveal a statistically significant yet negative effect of the happiness index and the real minimum wage on brain

drain. This suggests that happy nations attract skilled professionals and emphasizes reduced skilled emigration in high- income countries. Results highlight the impact of the global peace index, revealing that decreased peace levels in the country

of origin increase brain drain. Integrating each of the component indicators of the happiness index, the results validate the significance of the happiness index, global peace index, and real minimum wage. Among the component indicators of the happiness index, healthy life expectancy, absence of corruption, social support, and real minimum wage exhibit negative and statistically significant effects on brain drain. This highlights that understanding the importance of these factors is crucial for policymakers in shaping policies to mitigate human capital flight and address the challenges posed by brain drain.

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