2023-09-28 14:46:10 +00:00
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abstract: 'Does globalization affect labor market outcomes? Can labor market
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policies mitigate or offset the effects? Would these policies have
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important side effects on efficiency? This article addresses these
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questions through an analytical survey of the literature, including
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several studies under preparation. Some of the studies use new
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cross-country databases of wages and other labor market indicators.
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Although all the answers should be considered tentative, some patterns
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emerge. Different aspects of globalization have different consequences.
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In the short run wages fall with openness to trade and rise with foreign
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direct investment. But after a few years the effect of trade on wages
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becomes positive. Foreign direct investment also increases
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(substantially) the returns to education. Social protection programs are
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effective in reducing inequality. Minimum wages, public sector
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employment, and core labor standards are not. Between these two
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extremes, collective bargaining works mainly for the middle class.
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Social protection programs do not adversely affect efficiency, but high
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public sector employment and trade union membership are associated with
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weaker performance in the context of adjustment.'
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author: Rama, M
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author_list:
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- family: Rama
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given: M
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da: '2023-09-28'
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doi: 10.1093/wbro/lkg010
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files: []
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issn: 0257-3032
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journal: WORLD BANK RESEARCH OBSERVER
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keywords-plus: 'PUBLIC-SECTOR; TRADE LIBERALIZATION; INCOME INEQUALITY; WAGE INEQUALITY;
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MINIMUM-WAGES; INVESTMENT; EDUCATION; POLICIES; IMPACT; MEXICO'
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language: English
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month: FAL
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number: '2'
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number-of-cited-references: '51'
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pages: 159-186
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papis_id: 69d4ba36b7a48bf1458f03f4195a915a
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ref: Rama2003globalizationlabor
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times-cited: '21'
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title: Globalization and the labor market
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000187228600002
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usage-count-last-180-days: '0'
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usage-count-since-2013: '16'
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volume: '18'
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web-of-science-categories: Development Studies; Economics
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year: '2003'
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