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Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries

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  • Rolph van der Hoeven

Abstract

The current wave of globalization has profound labour market effects, accentuated, in many cases, by the current financial and economic crisis. This paper reviews general labour market trends and country examples, arguing that the current globalization process makes labour’s position more precarious, a trend magnified by the current crisis. This is consistent with the policy reactions to the crisis: governments have (rightly) acted as a banker of last resort to avoid the collapse of the financial system, but, despite stimulus plans and monetary easing and some labour market policies, have not really acted as an employer of last resort.

Suggested Citation

  • Rolph van der Hoeven, 2010. "Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries," Working Papers 99, United Nations, Department of Economics and Social Affairs.
    • Handle: RePEc:une:wpaper:99
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    2. Frances Stewart, 2012. "The Impact of Global Economic Crises on the Poor: Comparing the 1980s and 2000s," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 13(1), pages 83-105, February.
    3. Rolph van der Hoeven, 2012. "Development Aid and Employment," WIDER Working Paper Series wp-2012-107, World Institute for Development Economic Research (UNU-WIDER).
    4. Joshua Greenstein, 2015. "New patterns of structural change and effects on inclusive development: A case study of South Africa and Brazil," WIDER Working Paper Series 006, World Institute for Development Economic Research (UNU-WIDER).
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    6. Amrita Chhachhi & Jan Breman & Marcel Linden, 2014. "Informalizing the Economy: The Return of the Social Question at a Global Level," Development and Change, International Institute of Social Studies, vol. 45(5), pages 920-940, September.
    7. van der Hoeven, Rolph, 2012. "Development Aid and Employment," WIDER Working Paper Series 107, World Institute for Development Economic Research (UNU-WIDER).
    8. Joshua Greenstein, 2015. "New patterns of structural change and effects on inclusive development: A case study of South Africa and Brazil," WIDER Working Paper Series wp-2015-006, World Institute for Development Economic Research (UNU-WIDER).
    9. Ortiz, Isabel, & Cummins, Matthew. & Capaldo, Jeronim. & Karunanethy, Kalaivani., 2015. "The decade of adjustment : a review of austerity trends 2010-2020 in 187 countries," ILO Working Papers 994890453402676, International Labour Organization.

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    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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