Author: Joseph S. LeePublisher:
ISBN:
Category : Confucianism
Languages : en
Pages : 396
Book Description
"The principal argument behind this set of papers is that a key element of the sustained economic growth of the Asian little tigers is their human resource policies. Without appropriate human resource policies that combine the best public and private efforts, it would have been impossible for these countries to have achieved such growth. These papers also argue that countries that adopt a low wage policy are able to attract foreign investment initially, but are unable to sustain their growth. Conversely, countries that adopt an investment approach to skill formation, investing in training and retraining, can increase their value-added productin, hence the profitability of employers. Employers are then able to pay higher wages, and thus raise the living standards of workers. It is by this continued investment in human resources that these countries can achieve sustained growth"--Inside cover