Labor Institutions and Development Under Globalization
Labor market regulation is a controversial area of public policy in both developed and developing countries. Mainstream economic analysis traditionally portrays legal interventions providing for minimum wages, unemployment insurance and (often only a modicum of) employment protection as ‘luxuries’ developing countries cannot afford. After decades of de-regulatory advice, international...
Read MoreThe Impact of Minimum Wage Increases on the South African Economy in the Global Policy Model
This paper uses the United Nations Global Policy Model (GPM) to assess how increasing minimum wages might impact the South African economy by increasing the share of income going to workers (the “labour share”) – in contrast to the share that accrues to capital through profits and property income....
Read MoreThe Decade of Adjustment: A Review of Austerity Trends 2010-2020 in 187 Countries (Extension of Social Security Series)
This paper: (i) examines the latest IMF government spending projections for 187 countries between 2005 and 2020; (ii) reviews 616 IMF country reports in 183 countries to identify the main adjustment measures considered by governments in both high-income and developing countries; (iii) applies the United Nations Global Policy Model...
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