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This book examines, theoretically and empirically, the key aspects and differences of economic growth. It provides a comprehensive investigation of the numerous features of development in transition countries, covering the last two decades, from the fall of the Berlin Wall in 1989 to the current financial crisis.
This paper studies interactions between labor market institutions and unemployment dynamics in transition economies. It presents a dynamic matching model in which state sector firms endogenously shed labor and private job creation takes time. Two main conclusions arises. First, higher unemployment benefits increase steady-state unemployment, and, during the transition, they reduce the fall in real wages and speed up closure of state enterprises. Second, higher minimum wages can theoretically speed up the elimination of state sector jobs without affecting steady-state unemployment. These results are broadly consistent with existing evidence on the dynamics of unemployment and real wages in transition economies.
The emergence of open unemployment is an unavoidable consequence of postcommunist transition. Some countries-notably in the former Soviet Union-initially slowed economic contraction. But in the longer run slower reformers have generally sustained deeper and more prolonged recessions than faster reforming central European countries. Moreover, the initially low unemployment rates in the former Soviet Union are now rising, and may stabilise at higher post-transition equilibrium rates than in Central Europe.
Monograph emanating from the Hudson Institute conference "Outlook and Policy for Industrial Structural Change in OECD countries", focusing on trends and changes in economic structure and economic policy issues - covers relations between technological change, economic growth and productivity, employment and economic implications of growing service sectors, capital formation and investment policy, international competition, trade policy, protectionism and adjustment alternatives, etc. Graphs and references. Conference held in Washington? 1979 Jan 25 and 26.
This volume is primarily concerned with the first key component of transition: restructuring—the changing behavior of firms and their complex interaction with the labor market, most particularly with unemployment. Chapter 1 gives an overview of firm behavior, restructuring, and the labor market in the transition. Chapter 2 focuses on the effect of output, ownership, and legal form on employment and wages in Central European firms. Chapter 3 explores employment and wage setting in three stages of Hungary's labor market transition. Chapter 4 considers enterprises in the Polish transition. Chapter 5 explains labor market flows in the midst of structural change. Chapter 6 explores the role of unemployment and restructuring in the transition, and chapter 7 presents a numerical model of transition. Emphasis is placed on the Czech and Slovak Republics, Bulgaria, Hungary, Poland, and Russia.
This comparative analysis of growth, structural change and labour market dynamics in the Greater Mekong countries (Yunnan Province in China, Thailand, Vietnam, Cambodia, Lao PDR and Myanmar) of Southeast Asia is the first of its kind. It explores economic integration and cooperation, the possibilities for improving the functioning of labour markets and facilitating mutually beneficial labour flows in the region. The book begins with a comparative overview of policy reforms, economic performance and structural changes, focusing on economic relations in the Greater Mekong countries. It then examines the salient features of labour market structures and policies, patterns of cross-border migration, and information systems, paying attention to the similarities and differences between countries. It is especially timely in the context of economic transition from socialist systems in the three Indochina countries, the ongoing policy reforms in Yunnan Province and Myanmar, and in light of the Asian financial crisis in shaping growth trends. The analysis yields policy recommendations for improvement in labour market performance. The book will be of great interest to development and labour economists and those working in the field of Asian studies, as well as to policymakers.