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Author: Alvaro Forteza Publisher: ISBN: Category : Languages : en Pages : 50
Book Description
Labor market policies and institutions affect the success of economic reform but probably more for political than for economic reasons. Growth appears not to be hurt by minimum wages and mandatory benefits. But the relative size of organized labor (in government and elsewhere) is crucial. Forteza and Rama show that labor market policies and institutions affect the effectiveness of economic reform programs. They compare annual growth rates across 119 countries, using data from 449 World Bank adjustment credits and loans between 1980 and 1996.The results indicate that countries with relatively rigid labor markets experienced deeper recessions before adjustment and slower recoveries afterward.The authors also disentangle the mechanisms through which labor market rigidity operates.They find that minimum wages and mandatory benefits do not hurt growth. But the relative size of organized labor (in government and elsewhere)appears to matter.Labor market rigidity seems to be relevant more for political reasons than for economic reasons. The authors' findings suggest that not enough attention has been paid to vocal groups (urban, middle-class groups) that stand to lose from economic reform. The implications of the findings for policymakers: There should be less focus on deregulating the labor market and more on defusing the opposition of (vocal) losers.The results are robust to changes in measurement, controls, and sample and do not suffer from self-selection bias.This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to understand the impact of labor market policies and institutions on economic performance. The study was funded by the Bank's Research Support Budget under the research project quot;The Impact of Labor Market Policies and Institutions on Economic Performancequot; (RPO 680-96).
Author: Alvaro Forteza Publisher: ISBN: Category : Languages : en Pages : 50
Book Description
Labor market policies and institutions affect the success of economic reform but probably more for political than for economic reasons. Growth appears not to be hurt by minimum wages and mandatory benefits. But the relative size of organized labor (in government and elsewhere) is crucial. Forteza and Rama show that labor market policies and institutions affect the effectiveness of economic reform programs. They compare annual growth rates across 119 countries, using data from 449 World Bank adjustment credits and loans between 1980 and 1996.The results indicate that countries with relatively rigid labor markets experienced deeper recessions before adjustment and slower recoveries afterward.The authors also disentangle the mechanisms through which labor market rigidity operates.They find that minimum wages and mandatory benefits do not hurt growth. But the relative size of organized labor (in government and elsewhere)appears to matter.Labor market rigidity seems to be relevant more for political reasons than for economic reasons. The authors' findings suggest that not enough attention has been paid to vocal groups (urban, middle-class groups) that stand to lose from economic reform. The implications of the findings for policymakers: There should be less focus on deregulating the labor market and more on defusing the opposition of (vocal) losers.The results are robust to changes in measurement, controls, and sample and do not suffer from self-selection bias.This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to understand the impact of labor market policies and institutions on economic performance. The study was funded by the Bank's Research Support Budget under the research project quot;The Impact of Labor Market Policies and Institutions on Economic Performancequot; (RPO 680-96).
Author: Pierre-Richard Agénor Publisher: International Monetary Fund ISBN: 1451854781 Category : Business & Economics Languages : en Pages : 98
Book Description
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Author: Mr.David T. Coe Publisher: International Monetary Fund ISBN: 1451951256 Category : Business & Economics Languages : en Pages : 40
Book Description
This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European countries in recent years have had so little success in reducing unemployment. What is required instead is deeper labor market reforms across a broader range of complementary policies and institutions. To be politically feasible, these reforms must be combined with measures to address distributional issues.
Author: Mr.Anthony Annett Publisher: International Monetary Fund ISBN: 145197535X Category : Business & Economics Languages : en Pages : 25
Book Description
Welfare states can be reformed successfully, and popular support for reforms can be maintained. But this requires an internally consistent package of labor market, fiscal, and product market reforms, including some kind of buy-in, through, for example, tax cuts. Empirical analysis combined with a select number of case studies-comprising Ireland, Denmark, the Netherlands, and the United Kingdom-reveals that successful reformers focused on increasing labor supply through benefit reform, lowering tax wedges, and lowering government consumption. At the same time, greater labor supply translated into employment growth more effectively in the presence of liberal labor and product markets.
Author: Alvaro Forteza Publisher: ISBN: Category : Economic development Languages : en Pages : 56
Book Description
Labor market policies and institutions affect the success of economic reform but probably more for political than for economic reasons. Growth appears not to be hurt by minimum wages and mandatory benefits. But the relative size of organized labor (in government and elsewhere) is crucial.
Author: World Bank Publisher: World Bank Publications ISBN: 1464814414 Category : Business & Economics Languages : en Pages : 241
Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: National Intelligence Council Publisher: Cosimo Reports ISBN: 9781646794973 Category : Languages : en Pages : 158
Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author: Mr.Hamid R Davoodi Publisher: International Monetary Fund ISBN: 9781589062290 Category : Business & Economics Languages : en Pages : 44
Book Description
The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Author: Alvaro Forteza
Author: Alvaro Forteza
Author: Alvaro Forteza
Author: Pierre-Richard Agénor
Author: Mr.David T. Coe
Author: Mr.Anthony Annett
Author: Alvaro Forteza
Author: 
Author: World Bank
Author: National Intelligence Council
Author: Mr.Hamid R Davoodi