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Labor Market and Globalization: A Comparison of the Latin American and the East Asian Experiences in the 1980s and 1990s

  • Bruno, Randolph Luca

    ()

    (University of Birmingham)

In this paper we analyse the labor market and its relationship with globalization in two groups of countries similar in their GDP per capita levels at the beginning of the 1980s but otherwise significantly different in their economic and social structures. On the one hand we look at Argentina, Brazil and Chile, on the other hand we analyse South Korea, Taiwan and Thailand. It is argued that the Latin American group adopted pro-globalization policies too quickly and without an adequate social safety net, and that the East Asian group was particularly vulnerable to the 1997 crisis in connection with an ill-designed financial markets liberalisation and poor labor market policies. We suggest that the high social costs of labor market imbalances generated throughout the 1980s and 1990s in these two groups of countries should have been tackled within an encompassing development strategy, with an eye at social safety nets and labor supply policies – such as active and passive labor market institutions – designed for each country specifically.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Policy Papers with number 16.

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Length: 35 pages
Date of creation: Apr 2010
Date of revision:
Handle: RePEc:iza:izapps:pp16
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  1. Ricardo Hausmann & Dani Rodrik, 2002. "Economic Development as Self-Discovery," NBER Working Papers 8952, National Bureau of Economic Research, Inc.
  2. Alvaro Forteza & Martin Rama, 2006. "Labor Market 'Rigidity' and the Success of Economic Reforms Across More Than 100 Countries," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 9(1), pages 75-105.
  3. Konstantin Sonin, 2002. "Why the Rich May Favor Poor Protection of Property Rights," William Davidson Institute Working Papers Series 544, William Davidson Institute at the University of Michigan.
  4. Carmen Pagés-Serra & James J. Heckman, 2000. "The Cost of Job Security Regulation: Evidence from Latin American Labor Markets," IDB Publications (Working Papers) 4119, Inter-American Development Bank.
  5. César Calderón & Rodrigo Valdés & Alberto E. Chong, 2004. "Labor Market Regulations and Income Inequality: Evidence for a Panel of Countries," IDB Publications (Working Papers) 6683, Inter-American Development Bank.
  6. Mario Cimoli & Jorge Katz, 2003. "Structural reforms, technological gaps and economic development: a Latin American perspective," Industrial and Corporate Change, Oxford University Press, vol. 12(2), pages 387-411, April.
  7. Mario Cimoli & Nelson Correa, 2002. "Trade Openess and Technological Gaps in Latin America: a Low Growth Trap," LEM Papers Series 2002/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  8. Blanchard, Olivier J & Tirole, Jean, 2007. "The Joint Design of Unemployment Insurance and Employment Protection. A First Pass," CEPR Discussion Papers 6127, C.E.P.R. Discussion Papers.
  9. Kristin J. Forbes, 2000. "A Reassessment of the Relationship between Inequality and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 869-887, September.
  10. Nelson, Richard R. & Sampat, Bhaven N., 2001. "Making sense of institutions as a factor shaping economic performance," Journal of Economic Behavior & Organization, Elsevier, vol. 44(1), pages 31-54, January.
  11. Carolina Castaldi & Mario Cimoli & Nelson Correa & Giovanni Dosi, 2004. "Technological Learning, Policy Regimes and Growth in a `Globalized' Economy: General Patterns and the Latin American Experience," LEM Papers Series 2004/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  12. Jos� Antonio Ocampo, 2004. "Latin America's Growth and Equity Frustrations During Structural Reforms," Journal of Economic Perspectives, American Economic Association, vol. 18(2), pages 67-88, Spring.
  13. Carmen Pagés-Serra, 2000. "The Cost of Job Security Regulation: Evidence from Latin American Labor Markets," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
  14. Carolina Castaldi & Giovanni Dosi, 2003. "The Grip of History and the Scope for Novelty: Some Results and Open Questions on Path Dependence in Economic Processes," LEM Papers Series 2003/02, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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