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Despite heightened interests from policy makers in the notion of brain circulation, the discussion around the issue has remained largely theoretical. Drawing upon unique data of the alumni of a leading Indian university, this study examines how migration dynamics unfold within a highly-educated population whose emigration is considered as a classic example of brain drain. We adopt an integrative framework, bringing together macro-level push and pull influences and individual-level selectivity. We find that disparity in economic development between countries drives migration flows in both directions, while host-country demand has a stronger impact on out-migration than on return migration. We also detect significant selection effects at the individual level: top students are more likely to emigrate and less likely to return. In out-migration, flowing out of the country appear to be the best and the brightest amongst the highly educated talent pool. In return migration, negative selection is manifested in multiple aspects�including ability, post-migration human capital investment, and income. We also find that the influences of macro forces vary amongst individuals: higher-ability individuals appear to be less affected by demand changes. The findings have important policy implications for both source countries and receiving countries.
