Unlike murder, there is no ethical cost to terminating a fetus <24 weeks, when it is not yet capable of sentience.
There are many more factors to consider than sentience when assessing the value of a human life. It is illegal for me to walk into a hospital and murder a brain dead patient on life support.
While I agree that the evidence seems to suggest that legal elective abortions affect some positive social outcomes, I am not convinced that that alone is a sufficient argument to permit legal late term elective abortions. Eugenics also produces desirable social outcomes, eliminating genetic diseases and improving overall intelligence and physical health. This alone is insufficient to validate the practise.