Impact of Labor Market Institutions on Unemployment: Results from a Global Panel
AbstractPolicies and programs designed to protect workers may, paradoxically, have a negative impact on labor as a whole by increasing unemployment. A key question is which policies have this effect. Using a 3-year panel of 90 countries, the study finds that the unemployment rate is affected by the existence, duration, and replacement rate of unemployment insurance. Hiring and retrenchment regulations and the nature of collective bargaining, however, are not significantly correlated with unemployment. These results are broadly in line with the extensive literature on countries of the Organisation for Economic Co-operation and Development but are at odds with the few cross-country studies that have considered a wider sample. These findings question again whether the deregulation of labor markets in developing countries will improve labor market outcomes.
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Bibliographic InfoPaper provided by Asian Development Bank in its series ADB Economics Working Paper Series with number 219.
Length: 31 pages
Date of creation: Sep 2010
Date of revision:
labor market; unemployment; regulation; institutions;
Find related papers by JEL classification:
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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