Labor Market Policy in Developing Countries : A Selective Review of the Literature and Needs for the Future
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World Bank, Washington, DC
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This paper presents a selective overview
of the literature on modeling labor market policies in
developing countries. It considers welfare economics,
theoretical models, and empirical evidence to highlight the
three general features needed in future research on labor
market policy in developing countries. The author identifies
desirable research components (welfare economics,
theoretical modeling, and empirical modeling) and pitfalls
in the literature (inappropriate use of productivity,
reliance on wrong kinds of empirical studies, lack of
cost-benefit analysis, attention to only a subset of the
goods and bads, and fallacy of composition). The paper
concludes with suggested topics and methods for future
research. The author states that sound labor market policy
requires sound labor market models. The paper makes a case
for developing policy based on explicit evaluation criteria,
specific theoretical models, and comprehensive empirical evidence.
Palabras clave
ABSENTEEISM, ACTIVE LABOR, ACTIVE LABOR MARKET, ACTIVE LABOR MARKET POLICIES, ACTIVE LABOR MARKET POLICY, AMOUNT OF INCOME, AVERAGE EARNINGS, AVERAGE RATES OF RETURN, AVERAGE WAGE, CALCULATION, CALCULATIONS, CAPITAL MARKET, CAPITAL MARKETS, CHILD LABOR, CLASSROOM TRAINING, COLLECTIVE BARGAINING, COMPETITIVE MODEL, CONTRIBUTIONS, CORE LABOR STANDARDS, COST OF LIVING, CURRENCY, DAILY WAGE, DAY LABORERS, DEMAND CURVE, DEVELOPMENT BANK, DEVELOPMENT ECONOMICS, DEVELOPMENT INSTITUTIONS, DISCOUNT RATE, DISGUISED UNEMPLOYMENT, EARNING, EARNINGS, EARNINGS INEQUALITY, EARNINGS LOSSES, ECONOMIC ANALYSIS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC MOBILITY, EDUCATION PROGRAMS, EFFICIENCY WAGE MODELS, EFFICIENCY WAGE THEORY, EMPLOYMENT, EMPLOYMENT EFFECT, EMPLOYMENT PROTECTION LEGISLATION, EMPLOYMENT SECURITY, EMPLOYMENT SERVICE, EMPLOYMENT STATUS, ENTRY POINT, EQUILIBRIUM LABOR MARKET OUTCOMES, EXPECTED WAGE, FAMILY MEMBERS, FINANCIAL SUPPORT, FORMAL SECTOR WORKERS, FUTURE LABOR, HEALTH INSURANCE, HIGH WAGE, HIGH WAGES, HOUSEHOLD CONSUMPTION, HOUSEHOLD INCOME, HUMAN CAPITAL, HUMAN RESOURCE, IMPERFECT INFORMATION, INCOME DISTRIBUTION, INCOME INEQUALITY, INCOME LEVEL, INCOME SUPPORT, INCOMES, INDIVIDUAL ACCOUNTS, INDUSTRIAL RELATIONS, INDUSTRIAL RELATIONS SYSTEMS, INFORMAL ECONOMY, INFORMAL EMPLOYMENT, INFORMAL SECTOR, INITIAL CAPITAL, INVESTMENT CLIMATE, INVESTMENT POLICIES, JOB CREATION, JOB LOSS, JOB PERFORMANCE, JOB SEARCH, JOB TRAINING, JOBS, LABOR DEMAND, LABOR ECONOMICS, LABOR FORCE, LABOR FORCE PARTICIPATION, LABOR MARKET, LABOR MARKET CONDITIONS, LABOR MARKET DISCRIMINATION, LABOR MARKET INFORMATION, LABOR MARKET INFORMATION SYSTEMS, LABOR MARKET INTERVENTIONS, LABOR MARKET ISSUES, LABOR MARKET POLICIES, LABOR MARKET POLICY, LABOR MARKET PROGRAMS, LABOR MARKET REGULATION, LABOR MARKET SEGMENTATION, LABOR MARKETS, LABOR POOL, LABOR REGULATIONS, LABOR SUPPLY, LABOR TURNOVER, LABOUR, LACK OF INFORMATION, LARGE FIRMS, LIFELONG LEARNING, LIFETIME, LIFETIME EARNINGS, LOW EARNINGS, LOW INCOME, LOW UNEMPLOYMENT, LOW-INCOME, MACROECONOMIC STABILITY, MANPOWER, MANPOWER PLANNING, MARKET ANALYSIS, MARKET RESEARCH, MARKET RETURNS, MARKET SECTOR, MARKET SEGMENT, MARKET SEGMENTS, MARKET THEORY, MARKET WAGE, MARKET WAGES, MINIMUM WAGE, MINIMUM WAGES, MORTALITY, NEOCLASSICAL ECONOMICS, NON-FARM EMPLOYMENT, NON-WAGE COSTS, OCCUPATION, OCCUPATIONS, ON-THE-JOB TRAINING, OPPORTUNITY COSTS, PAYROLL TAXES, PENSION, PENSION BENEFITS, PENSION POLICY, PENSIONS, PRESENT VALUE, PRIVATE COSTS, PRIVATE SECTOR, PRIVATE SECTOR FIRM, PROBABILITY, PRODUCTIVITY, PRODUCTIVITY GAINS, PROSPERITY, PUBLIC ECONOMICS, PUBLIC EXPENDITURE, PUBLIC EXPENDITURES, PUBLIC SECTOR EMPLOYMENT, PUBLIC SECTOR JOBS, RATE OF RETURN, RATES OF RETURN, REAL WAGE, REAL WAGES, REPLACEMENT RATE, RETRENCHED WORKERS, RURAL POVERTY, SAFETY, SAFETY NET, SALARIED EMPLOYMENT, SALARIED WORKERS, SAVINGS, SAVINGS ACCOUNTS, SELF-EMPLOYMENT, SEVERANCE PAYMENTS, SOCIAL BENEFITS, SOCIAL COSTS, SOCIAL PROTECTION, SOCIAL SECURITY, SOCIAL WELFARE, SOUND LABOR MARKET POLICY, STANDARD OF LIVING, SUBSTITUTION, SUPPLY CURVE, SUPPLY CURVES, TEMPORARY EMPLOYMENT, TOTAL COSTS, TOTAL WAGE, TRADE UNION, TRADE UNIONS, TRAINING COURSES, TRAINING POLICIES, TRAINING PROGRAM, UNEMPLOYED, UNEMPLOYED INDIVIDUALS, UNEMPLOYMENT, UNEMPLOYMENT BENEFITS, UNEMPLOYMENT INSURANCE, UNEMPLOYMENT INSURANCE BENEFITS, UNEMPLOYMENT RATE, UNION MEMBERSHIP, UNION WAGE PREMIUM, UNPAID FAMILY WORKERS, UNSKILLED JOBS, URBAN EMPLOYMENT, URBAN UNEMPLOYMENT, VALUABLE, WAGE BILL, WAGE DETERMINATION, WAGE DIFFERENTIAL, WAGE DIFFERENTIALS, WAGE DISTRIBUTION, WAGE EMPLOYMENT, WAGE EQUALIZATION, WAGE GAP, WAGE INEQUALITY, WAGE LEVEL, WAGE LEVELS, WAGE POLICY, WAGE SECTOR, WORKER, WORKERS, WORKING CONDITIONS, WORLD MARKETS, WORTH, YOUNG ADULTS