Globalization and the Labor Market

Globalization and the Labor Market

Does globalization affects labor market outcomes? Can labor market policies mitigate or offset the effects? Would these polices have important side effect on efficiency this article addresses these questions through an analytical survey of the lite...

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Bibliographic Details
Main Author: Rama, Martín
Format: Journal Article
Language:English
en_US
Published: World Bank 2013
Subjects:
labor market
wages
foreign direct investment
Online Access:http://documents.worldbank.org/curated/en/2013/01/17548107/globalization-labor-market
http://hdl.handle.net/10986/16415
id okr-10986-16415
recordtype oai_dc
spelling okr-10986-164152021-04-23T14:03:29Z Globalization and the Labor Market Rama, Martín labor market wages foreign direct investment Does globalization affects labor market outcomes? Can labor market policies mitigate or offset the effects? Would these polices have important side effect on efficiency this article addresses these questions through an analytical survey of the literature, including several studies under preparation. Some of the studies use new cross-country database of wages and other labor market indicators. Although all the answer should be considered tentative some patterns emerge. Different aspects of globalization have different consequence. In the short run wages fall with openness to trade and rise with foreign direct investment also increase (substantially) the returns to education. Social protection programs are effective in reducing inequality. Minimum wages, public sector employment, and core labor standards are not. Between these two extremes, collective bargain works mainly for the middle class. Social protection programs do not adversely affect efficiency, but high public sector employment and trade union membership are associated with weaker performance in the context of adjustment. 2013-12-19T21:23:02Z 2013-12-19T21:23:02Z 2003 http://documents.worldbank.org/curated/en/2013/01/17548107/globalization-labor-market World Bank Research Observer DOI: 10.1093/wbro/lkg010 http://hdl.handle.net/10986/16415 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank World Bank Publications & Research :: Journal Article Publications & Research :: Journal Article
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic labor market
wages
foreign direct investment
spellingShingle labor market
wages
foreign direct investment
Rama, Martín
Globalization and the Labor Market
description Does globalization affects labor market outcomes? Can labor market policies mitigate or offset the effects? Would these polices have important side effect on efficiency this article addresses these questions through an analytical survey of the literature, including several studies under preparation. Some of the studies use new cross-country database of wages and other labor market indicators. Although all the answer should be considered tentative some patterns emerge. Different aspects of globalization have different consequence. In the short run wages fall with openness to trade and rise with foreign direct investment also increase (substantially) the returns to education. Social protection programs are effective in reducing inequality. Minimum wages, public sector employment, and core labor standards are not. Between these two extremes, collective bargain works mainly for the middle class. Social protection programs do not adversely affect efficiency, but high public sector employment and trade union membership are associated with weaker performance in the context of adjustment.
format Publications & Research :: Journal Article
author Rama, Martín
author_facet Rama, Martín
author_sort Rama, Martín
title Globalization and the Labor Market
title_short Globalization and the Labor Market
title_full Globalization and the Labor Market
title_fullStr Globalization and the Labor Market
title_full_unstemmed Globalization and the Labor Market
title_sort globalization and the labor market
publisher World Bank
publishDate 2013
url http://documents.worldbank.org/curated/en/2013/01/17548107/globalization-labor-market
http://hdl.handle.net/10986/16415
_version_ 1764433530068140032

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