Jobless Growth? Okun's Law in East Asia

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dc.creatorHanusch, Marek
dc.date2012-12-21T19:08:57Z
dc.date2012-12-21T19:08:57Z
dc.date2012-08
dc.date.accessioned2026-07-01T00:47:19Z
dc.descriptionWas economic growth in East Asia jobless? This paper addresses this question using data from eight East Asian countries during the period between 1997 and 2011 to estimate the Okun's Law Coefficient, which captures the relationship between growth and employment. The analysis suggests that growth was not jobless. However, there is considerable variation across countries. Generally, the effect of growth on employment tends to magnify under more flexible hiring and firing rules. Yet even where labor markets are more tightly regulated, economic growth affects employment, not necessarily in the aggregate but in its composition. There is evidence that agricultural employment moves counter-cyclically, as opposed to non-agricultural employment. The effect is particularly pronounced in periods of economic crisis, suggesting that agriculture may serve as a shock-absorber for workers laid off in the industrial sector. Isolating non-agricultural employment reveals a stronger relationship between growth and job creation.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2012/08/16581974/jobless-growth-okuns-law-east-asia
dc.identifierhttps://hdl.handle.net/10986/11994
dc.identifierhttps://doi.org/10.1596/1813-9450-6156
dc.identifier.urihttp://hdl.handle.net/123456789/411001
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research working paper;no. WPS 6156
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCREATIVE DESTRUCTION
dc.subjectDEMOCRACY
dc.subjectDISCUSSIONS
dc.subjectECONOMIC CRISES
dc.subjectECONOMIC DOWNTURNS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMICS
dc.subjectEMPLOYERS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT CREATION
dc.subjectEMPLOYMENT GENERATION
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT RATE
dc.subjectFARM EMPLOYMENT
dc.subjectFIRING
dc.subjectHIRING
dc.subjectHUMAN RESOURCES
dc.subjectINCOME
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMAL EMPLOYMENT
dc.subjectINFORMAL SECTOR
dc.subjectJOB CREATION
dc.subjectJOB DESTRUCTION
dc.subjectJOBLESS GROWTH
dc.subjectJOBS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET INSTITUTIONS
dc.subjectLABOR MARKET REGULATIONS
dc.subjectLABOR MARKET RIGIDITY
dc.subjectLABOR MARKETS
dc.subjectLAID-OFF WORKERS
dc.subjectLOW UNEMPLOYMENT
dc.subjectNATURAL RATE OF UNEMPLOYMENT
dc.subjectPRODUCTIVITY
dc.subjectRIGID LABOR MARKET
dc.subjectTOTAL EMPLOYMENT
dc.subjectUNDEREMPLOYMENT
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT LEVELS
dc.subjectUNEMPLOYMENT RATE
dc.subjectWAGES
dc.subjectWORK IN PROGRESS
dc.subjectWORKERS
dc.subjectWORKING
dc.titleJobless Growth? Okun's Law in East Asia

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