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Educational attainment, labour market institutions, and the structure of production

  • Stephen J Nickell
  • Stephen Redding
  • Joanna Swaffield

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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File URL: http://eprints.lse.ac.uk/3706/
File Function: Open access version.
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Paper provided by London School of Economics and Political Science, LSE Library in its series LSE Research Online Documents on Economics with number 3706.

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Length: 52 pages
Date of creation: Sep 2002
Date of revision:
Handle: RePEc:ehl:lserod:3706
Contact details of provider: Postal: LSE Library Portugal Street London, WC2A 2HD, U.K.
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Web page: http://www.lse.ac.uk/

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