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Educational Attainment, Labour Market Institutions, and the Structure of Production

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  • Stephen Nickell
  • Stephen Redding
  • Joanna Swaffield

Abstract

A key feature of OECD economic growth since the early 1970s has been the secular decline in manufacturing's share of GDP and the secular rise of service sectors. This paper examines the role played by relative prices, technology, factor endowments, and labour market institutions in the process of "de- industrialization." We find a statistically significant and quantitatively important effect of levels of educational attainment. Furthermore, the production structure responds differently to the educational attainment of men and women. Finally, countries with stronger levels of employment protection are shown to adjust more slowly to changes in prices, technology, and factor endowments.

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Bibliographic Info

Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0545.

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Date of creation: Sep 2002
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Handle: RePEc:cep:cepdps:dp0545

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Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

Related research

Keywords: De-industrialization; Educational Attainment; Factor Endowments; Labour Market Institutions; Specialization;

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