Growth and Policy in Developing Countries

Ocampo, José Antonio; Rada, Codrina; Taylor, Lance

doi:10.7312/ocam15014

Cited by 193 publications

(157 citation statements)

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“…The second term represents the contribution of structural change to total productivity variation, calculated as the sum of sectoral changes in share of total employment, weighted by the corresponding productivities. 21 20 For other recent studies that break down the evolution of labour productivity for different periods, see Ocampo, Rada and Taylor (2009) and Ros (2011). 21 Thus, if a sector loses share in the structure of employment to another sector with higher average productivity, aggregate productivity increases, and vice versa.…”

Section: (B) Changes In Labour Productivitymentioning

confidence: 99%

“…Efficiency wage theory examines the impact of better wages on higher productivity. In this regard, see Akerlof and Yellen (1986). of both formality and informality, it must be emphasized that there are theoretical and empirical reasons to treat markets as segmented (Fields, 2004;Ocampo, Rada and Taylor, 2009;Infante, 2011): -The region's production structure is highly heterogeneous, with large productivity gaps between and within sectors. -Because of weak labour demand in medium-and high-productivity segments and the jobs that are created mainly in response to this demand, other jobs are created mainly in response to the pressure of labour supply, reflecting the need for income in the respective households.…”

Section: Figurementioning

confidence: 99%

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Aspects of recent developments in the latin american and caribbean labour markets

Weller¹

2014

CEPAL Review

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This article presents three stylized facts that characterized the evolution of labour markets in Latin America and the Caribbean in the period 2003-2012 and represented breaks from previous trends. It is argued that these changes have to do with the economic and production context and the political and institutional framework. We show how the magnitude and patterns of economic growth impact on the nature of job creation, especially on shifts within and between economic sectors and the various segments of different productivity levels. We emphasize how changes in labour institutions have contributed to the evolution of labour indicators and, lastly, look at recent advances and persistent weaknesses in labour performance, as well as a number of risks to the continuity of recent favourable labour trends. ASPECTS OF RECENT DEVELOPMENTS IN THE LATIN AMERICAN AND CARIBBEAN LABOUR MARKETS • JÜRGEN WELLERIn the first decade of the 2000s, labour performance diverged markedly from the previous two decades in Latin America and the Caribbean. Especially from 2003 onwards, there was a break from several previous trends: the unemployment rate came down, many employment quality indicators improved amid increasing job formalization, and wage gaps between skilled and unskilled workers narrowed. These factors helped to reduce poverty rates and inequality between households in this period.This favourable picture may be attributed in part to a number of factors that weighed in to one extent or another in the countries of the region, especially economic and production factors and political-institutional developments.The analysis in this article centres on the 10-year period beginning in 2003, looking at how a more benign economic and production setting affected the labour markets. By contrast with the two preceding decades, in this period the region's economy enjoyed relatively sustained, high growth rates, interrupted only by the economic and financial crisis of 2008-2009. 1 At the same time, many countries moved away from the growth and development paradigm that prevailed in the region in the 1980s and 1990s (reliance on the superior efficacy and efficiency of the functioning of markets), which implied, in many cases, adopting new labour policies. As this article will discuss, both factors had major consequences for labour market performance in this period.The sections following this introduction review recent changes in the region's labour markets and interpret them against the backdrop of the changes 1 See eclac (several years) and, specifically for the subperiod 2003-2008, Kacef and López-Monti (2010 in the economic-industrial and political-institutional setting. Section II sets forth some stylized facts with regard to labour in the recent period, and contrasts them with previous performance. Section III presents a scheme developed to analyse the factors determining these changes, justifying the emphasis on the economicindustrial and political-institutional context. Section IV examines the characteristics of these fac...

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Section: (B) Changes In Labour Productivitymentioning

confidence: 99%

Section: Figurementioning

confidence: 99%

Aspects of recent developments in the latin american and caribbean labour markets

Weller¹

2014

CEPAL Review

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“…First, developing economies are generally characterised by macroeconomic instability and intense cyclical variations (Stiglitz, 1998;Ocampo et al, 2009;Bértola and Ocampo, 2012), so vulnerability to external (and internal) shocks is expected to be higher. This means that after each crisis a considerable number of firms enter the growing markets, many of which will exit in the following years (the greater the decline, the more firms exit), thus producing a "revolving door" phenomenon that is often more intense than in developed countries.…”

Section: Peripheral Regions)mentioning

confidence: 99%

The determinants of exit in a developing country: core and peripheral regions

2015

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“…uma discussão ampla dos avanços na macroeconomia de inspiração kaleckianakeynesiana encontra-se em Taylor (2004). uma discussão com foco na América Latina encontra-se em Ocampo et al (2009).…”

Section: Um Modelo Kaleckiano Simples Com Endividamento Externo O Equunclassified

Metas de inflação, taxa de câmbio real e crise externa num modelo kaleckiano

2011

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Metas de inflação, taxa de câmbio real e crise externa num modelo kaleckiano GaBrieL PorciLe aLexanDre souza ricarDo Viana* Inflation target, real exchange rate and external crisis in a Kaleckian model. Which role should the real exchange rate play in an inflation target regime? In this paper this point is discussed from the point of view of the conditions required for avoiding an external crisis. With this objective, a dynamic Kaleckian model is presented focusing on the stability of the external debt to capital ratio. The main conclusion is that policy makers should monitor closely the evolution of the real exchange rate in order to make compatible the inflation target regime with external stability.

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Growth and Policy in Developing Countries

Cited by 193 publications

References 4 publications

Aspects of recent developments in the latin american and caribbean labour markets

Aspects of recent developments in the latin american and caribbean labour markets

The determinants of exit in a developing country: core and peripheral regions

Metas de inflação, taxa de câmbio real e crise externa num modelo kaleckiano

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