Globalisation, human capital, and institutions have been widely recognised in the literature to be causally important for economic development. Most of the available studies, however, treat measures of these determinants either separately or as substitutes. In this paper, we study the income effects of border openness to migration, education, and the rule of law (our proxies for globalisation, human capital, and institutions, respectively). Using cross-country data covering all regions of the world, and employing instrumental variables for all three factors, we establish that they each have a robust, positive, and strong association with economic development. We then consider whether there are any useful interrelations between the three factors in explaining income. On the interaction effects, the results show that the impact on income of: (i) migration can be materially affected by cultivating good institutions but this effect is not dependent on the education level; (ii) education is important irrespective of the levels of migration and institutions; and (iii) institutions is significantly improved by raising the level of education but is not influenced by migration level. Our paper makes a significant contribution as the first investigation into the effects of migration, education, and institutions jointly and as complements.

全球化、人力资本和制度在文献中被广泛认为对经济发展具有因果关系。然而，大多数可用的研究将这些决定因素的测量单独或作为替代处理。在本文中，我们研究了边境开放对移民、教育和法治（我们分别代表全球化、人力资本和制度）的收入影响。使用涵盖世界所有地区的跨国数据，并使用所有三个因素的工具变量，我们确定它们每个都与经济发展具有稳健、积极和强烈的关联。然后我们考虑在解释收入时这三个因素之间是否存在任何有用的相互关系。关于交互效应，结果表明对收入的影响：(i) 培养良好的机构可以对移徙产生重大影响，但这种影响不取决于教育水平；(ii) 教育很重要，无论移民和机构的水平如何；(iii) 机构通过提高教育水平得到显着改善，但不受移民水平的影响。我们的论文作为对移民、教育和制度影响的首次调查做出了重大贡献，并作为补充。