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Have Lower Real Wages Helped Industrial Restructuring in Romania?

Author

Listed:
  • G. Ibrahim
  • A. Cooke
  • D. Paton

Abstract

A reduction in real wages arising from price liberalisation has been a standard feature of economies undergoing industrial restructuring. In this article, the impact of real wages on industrial performance is examined using a panel dataset of Romanian industries from 1990-96. Using both static and dynamic panel estimation, real wages are found not to be negatively associated with either output or employment. These results are consistent with a view that an institutionalist approach, aimed at improving productivity, may be more likely to achieve the long-term objective of successful industrial restructuring than standard adjustment programmes based on neo-classical theory.

Suggested Citation

  • G. Ibrahim & A. Cooke & D. Paton, 2002. "Have Lower Real Wages Helped Industrial Restructuring in Romania?," Journal of Development Studies, Taylor & Francis Journals, vol. 39(1), pages 165-180.
  • Handle: RePEc:taf:jdevst:v:39:y:2002:i:1:p:165-180
    DOI: 10.1080/00220380412331322711
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    Cited by:

    1. Daniela Andrén & Peter Martinsson, 2006. "What Contributes to Life Satisfaction in Transitional Romania?," Review of Development Economics, Wiley Blackwell, vol. 10(1), pages 59-70, February.

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