The Mechanics of Job Creation : Seizing the New Dividends of Globalization

This paper assesses some of the main strands of the theoretical literature on unemployment and employment and shows that their interesting conclusions may not be transferable to low-income countries whose endowment and production structures are pro...

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Bibliographic Details
Main Author:	Monga, Célestin
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ACTIVE LABOR MARKET PROGRAMS ADJUSTMENT PROCESS AGE GROUPS AGGREGATE DEMAND AGGREGATE UNEMPLOYMENT AGRICULTURE ARBITRAGE AVERAGE COSTS AVERAGE LABOR COMPENSATION AVERAGE WAGE BARGAINING INSTITUTIONS CENTRAL BANKS CLASSICAL ECONOMICS CLASSICAL ECONOMISTS COLLEGE GRADUATE COLLEGE GRADUATES COMPARATIVE ADVANTAGE COMPARATIVE ANALYSIS COMPETITIVE ADVANTAGE COMPETITIVENESS CONSUMERS CREATING JOB CREATIVE DESTRUCTION CRISES DEADWEIGHT DEADWEIGHT LOSSES DECENTRALIZATION DEVALUATION DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DEVELOPMENT STRATEGY DIRECT JOB CREATION DISADVANTAGED GROUPS DISGUISED UNEMPLOYMENT DIVIDENDS DOWNWARD PRESSURE ECONOMIC ANALYSIS ECONOMIC BENEFITS ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC INEFFICIENCY ECONOMIC NEEDS ECONOMIC PERFORMANCE ECONOMIC PROGRESS ECONOMIC RECOVERY ECONOMIC RESEARCH ECONOMIC SYSTEMS ECONOMIC THEORIES ECONOMIES OF SCALE EFFICIENCY WAGE THEORIES EMPLOYMENT GENERATION EMPLOYMENT GROWTH EMPLOYMENT OPPORTUNITIES EMPLOYMENT OPPORTUNITY EMPLOYMENT SERVICES EMPLOYMENT SUBSIDIES EXCESS DEMAND EXOGENOUS VARIABLES EXPECTED WAGES EXPORT GROWTH EXPORTS EXTERNALITIES FINANCIAL CRISIS FINANCIAL SECTOR FINDING EMPLOYMENT FIRM ENTRY FULL EMPLOYMENT GDP GDP PER CAPITA GENERAL EQUILIBRIUM GENERAL EQUILIBRIUM MODELS GOVERNMENT REGULATIONS HIGH UNEMPLOYMENT HOUSEHOLD ENTERPRISE HOUSEHOLD SURVEY HUMAN CAPITAL IMPERFECT INFORMATION INCOME INCREASING RETURNS INDUSTRIAL ECONOMIES INFLATION RATE INFORMAL SECTOR INNOVATION INTEREST RATES INTERNATIONAL MARKETS INVOLUNTARY UNEMPLOYMENT JOB CREATION JOB DESTRUCTION JOB MARKET JOB SEARCH JOB SEARCH ASSISTANCE JOB SEEKERS JOBS LABOR COST LABOR COSTS LABOR FORCE LABOR LAWS LABOR MARKET LABOR MARKET CONDITIONS LABOR MARKET INSTITUTIONS LABOR MARKET ISSUES LABOR MARKET REFORMS LABOR MARKET REGULATIONS LABOR MARKETS LABOR PRODUCTIVITY LABOR SUPPLY LABOUR LAYOFFS LDCS LONG-TERM EMPLOYMENT MACROECONOMIC ADJUSTMENT MACROECONOMIC STABILITY MANUFACTURING INDUSTRIES MANUFACTURING WAGES MARGINAL PRODUCT MARGINAL PRODUCTIVITY MARKET ECONOMIES MARKET FAILURES MONETARY POLICIES MONETARY POLICY MONOPOLY MOTIVATION MULTILATERAL TRADE MULTIPLIER EFFECT MULTIPLIER EFFECTS NAIRU NATIONAL ECONOMIES NATIONAL INCOME NATIONAL OUTPUT NATURAL RATE HYPOTHESIS NATURAL RATE OF UNEMPLOYMENT NATURAL RESOURCES NEW CLASSICAL ECONOMISTS NOMINAL WAGES OCCUPATION OCCUPATIONAL MOBILITY OLDER WORKERS OUTPUTS PASSIVE LABOR PER CAPITA INCOME PERSISTENT UNEMPLOYMENT POSITIVE EXTERNALITIES PREVIOUS SECTION PRICE LEVELS PRIVATE EMPLOYMENT PRIVATE FIRMS PRIVATE PARTNERSHIPS PRIVATE SECTOR PRIVATE SECTOR JOBS PRODUCT MARKET PRODUCT MARKETS PRODUCTION COSTS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVE ASSETS PRODUCTIVITY INCREASES PROTECTIONISM PUBLIC EMPLOYMENT PUBLIC SECTOR EMPLOYEES PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR JOBS PUBLIC WORKS PURCHASING POWER RAPID INDUSTRIALIZATION REAL INTEREST RATES REAL WAGE REAL WAGES RENT SEEKING RURAL YOUTH SERVANTS SKILLED LABOR SKILLED WORKER SKILLED WORKERS SMALL BUSINESSES SOCIAL INCLUSION STATIC ANALYSIS STRUCTURAL CHANGE TAXATION TELECOMMUNICATIONS TEMPORARY JOBS TOTAL OUTPUT TRADE UNIONS TRAINING PROGRAMS TRANSITION ECONOMIES UNEMPLOYED UNEMPLOYED WORKERS UNEMPLOYMENT UNEMPLOYMENT COMPENSATION UNEMPLOYMENT INSURANCE UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNEMPLOYMENT STATISTICS URBAN WORKERS VALUE ADDED VALUE JUDGMENTS WAGE BARGAINING WAGE BILL WAGE DETERMINATION WAGE EMPLOYMENT WAGE SUBSIDIES WEALTH WEALTH CREATION WORKERS YOUNG WORKERS YOUTH EMPLOYMENT YOUTH UNEMPLOYMENT
Online Access:	http://documents.worldbank.org/curated/en/2013/10/18409490/mechanics-job-creation-seizing-new-dividends-globalization http://hdl.handle.net/10986/16877

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Summary:	This paper assesses some of the main strands of the theoretical literature on unemployment and employment and shows that their interesting conclusions may not be transferable to low-income countries whose endowment and production structures are profoundly different from that of high-income economies. It then tackles the knowledge deficit on employment creation by shedding light on the new economic opportunities that latecomers may derive from the dynamics of globalization -- especially the economic success of large emerging economies such as China and Brazil. It offers a simple analytical framework for identifying opportunities for labor arbitrage in the global economy and suggests a practical policy framework for exploiting them.

The Mechanics of Job Creation : Seizing the New Dividends of Globalization

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