Although labor market regulations have been blamed for the poor economic performance of many developing countries, evidence for this argument is weak. Rather than constraining economic development, labor market institutions--including the laws that regulate the labor market--are important for both economic growth and the wellbeing of the workforce. Through a survey of developing countries, this volume reaffirms the importance of labor market institutions in the era of globalization. Leading experts offer insightful analysis ...
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Although labor market regulations have been blamed for the poor economic performance of many developing countries, evidence for this argument is weak. Rather than constraining economic development, labor market institutions--including the laws that regulate the labor market--are important for both economic growth and the wellbeing of the workforce. Through a survey of developing countries, this volume reaffirms the importance of labor market institutions in the era of globalization. Leading experts offer insightful analysis on how different institutions--labor administration, trade unions, minimum wages, training, and unemployment insurance--affect employment in these regions. The study provides economic and social reasons for maintaining certain labor policies and standards, differentiating between the needs and challenges of countries with varying levels of income.
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