This article examines how human capital portability frictions affect the quantity and the quality of international student migration (ISM). Using administrative data on college enrolment in Spain, it evaluates a reform that lifted the requirement to take the Spanish end-of-high-school exam for foreign students from a subset of countries. The reform increased student migration from treated countries by 50%, compared to migration from control countries. Post-reform migrants have lower predicted test scores but still outperform native students. The results suggest that multilateral diploma recognitions can significantly increase ISM without large costs in student migrant quality, and with positive effects on average student quality.

中文翻译：

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人力资本的可携带性和国际学生的迁移

本文探讨了人力资本可携带性摩擦如何影响国际学生移民（ISM）的数量和质量。它使用有关西班牙大学入学率的行政数据，评估了一项改革，该改革解除了对来自部分国家/地区的外国学生参加西班牙高中毕业考试的要求。与从对照国家移民相比，该改革使来自受治疗国家的学生移民增加了50％。改革后的移民的预测考试分数较低，但仍胜过本地学生。结果表明，多边文凭认可可以显着提高ISM，而不会为移民质量带来巨大的成本，而且会对平均学生质量产生积极影响。