Trends in Latin American Skilled Migration: “Brain Drain” or “Brain Exchange”?

During the last half of the twentieth century the Latin American sub‐continent, historically a region of immigration, became one of emigration characterized by intra‐regional movements and movements towards the developed world, particularly the US. The emigration of highly skilled resources was a new phenomenon in the 1960s and debate on “brain drain” took a significant place in academia and in international organizations. In recent years, within the context of intensification of the globalization process and by virtue of the drive for technological development and the subsequent demand for specialization, the issue has returned to both the arena of political debate and to the academic world. This article presents an analysis of trends in Latin American migration in the context of the new situation. It discusses whether there is a continuation of the “brain drain” phenomenon or the emergence of a trend towards “brain exchange” or “brain circulation”, as appears to be occurring in other parts of the world.