Avoiding the Eye of the Storm : How to Deal Effectively with Job Crises
Although economic crises are difficult to predict, their recurrence is a salient feature of emerging market economies. Nevertheless, many developing countries continue to lack an effective policy infrastructure that can mitigate the impacts of econ...
| Main Authors: | , , , |
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| Format: | Brief |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/11/13120455/avoiding-eye-storm-deal-effectively-job-crises http://hdl.handle.net/10986/10142 |
| Summary: | Although economic crises are difficult
to predict, their recurrence is a salient feature of
emerging market economies. Nevertheless, many developing
countries continue to lack an effective policy
infrastructure that can mitigate the impacts of economic
downturns on employment opportunities without affecting
long-term growth prospects. This was painfully highlighted
by the hasty reactions implemented by many countries in
response to the global downturn of 2008-09, and by the ad
hoc and reactive nature of many of the policies implemented.
The weak ability of governments to systematically foresee,
monitor, and offset adverse labor market impacts of economic
downturn is of particular concern in developing countries
where poverty incidence is high and labor is typically the
only asset for the majority of the population. The main
objectives of this note are: 1) to highlight the need for
policies that limit earnings volatility; 2) to guide policy
makers through the challenges inherent in crafting effective
and comprehensive policy packages. |
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