Globalisation and Labour Markets in Boom and Crisis: The Case of Vietnam
AbstractThis paper examines the impact of the global financial crisis on the Vietnam labour market against the backdrop of economic performance and labour dynamics before the crisis. The impact on labour has been milder compared with several neighbouring countries, than might have been expected for a country with Vietnam’s degree of international exposure. This can attributed to the timely stimulus package of late 2008, the tight labour market before the crisis, the competitive nature of Vietnam’s key exports and the private sector’s capacity to compete globally. Although flexible labour markets have ensured low unemployment, we argue that aspects of the institutional environment have contributed to slower labour market adjustment. Shortages of skilled labour, labour market rigidities and an under-developed industrial relations system could delay recovery and constrain future growth.
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Bibliographic InfoPaper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 2009-17.
Length: 53 pages
Date of creation: 2009
Date of revision:
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global financial crisis; exports; FDI; employment; labour market adjustment; labour institutions; Vietnam;
Find related papers by JEL classification:
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-14 (All new papers)
- NEP-DEV-2009-11-14 (Development)
- NEP-LAB-2009-11-14 (Labour Economics)
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- Rossana Patron, 2013. "Recovery not fast enough? Notes on speeding up," Discussion Papers 13/06, University of Nottingham, School of Economics.
- Coxhead, Ian & Linh, Vu Hoang & Le, Dong Tam, 2011.
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