Globalization of Labor Markets and the Growth Prospects of Nations

The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations. This paper contends that there is however a structural shift beneath the global economy that is now reaching a critical mass, and...

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Main Author:	Basu, Kaushik
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	ROBOTS TECHNOLOGY SECTOR EMPLOYMENT RISKS LABOR MARKET POLICY RIGHTS FOREIGN CAPITAL RED TAPE SKILLED WORKERS BARRIER GLOBAL MARKETS INFORMATION TECHNOLOGY INCOME INTEREST PRIVATIZATION DEBT CRISIS EMERGING ECONOMIES EXCHANGE INFORMATION LABOR FORCE DEVELOPING COUNTRIES POLITICAL ECONOMY DEVELOPING ECONOMIES INTERNATIONAL LABOUR ORGANIZATION TECHNOLOGICAL CHANGES PROFIT SHARING MICRO‐COMPUTERS WORLD DEVELOPMENT INDICATORS OUTPUT RATIO EFFECTS BONDS INCENTIVES SYSTEM SAN PRICE TAX LABOR FORCE PARTICIPATION SUSTAINABLE DEVELOPMENT SAVING NEW TECHNOLOGY EMERGING MARKET ECONOMIES DRIVERS COMPUTER APARTHEID NEW TECHNOLOGIES FEMALE LABOR FORCE LABOR MARKET FISCAL POLICIES SAVINGS DIGITAL GLOBAL ECONOMY DEVELOPMENT ECONOMICS PROFIT‐SHARING COMPUTERS ECONOMIC CRISES LABOR STANDARDS ADVANCED ECONOMIES TECHNOLOGICAL ADVANCES MINI‐COMPUTERS DEMOCRACY PRODUCTIVITY INTEREST RATES GLOBALIZATION EMERGING MARKET SELF‐EMPLOYED MARKETS DEBT ORGANIZATIONS AUTOMATION CONNECTIVITY TECHNOLOGICAL INNOVATIONS DIGITAL TECHNOLOGIES ECONOMIC REFORMS STANDARDS LABOR DIVIDENDS LIBERALIZATION EFFICIENCY MARKET ECONOMIES DIGITAL DIVIDE FEMALE LABOR PROFIT MOTIVE INDUSTRIAL ROBOTS UNEMPLOYMENT TECHNOLOGY DEREGULATION SOVEREIGN DEBT HUMAN CAPITAL TECHNOLOGICAL CHANGE WAGES POLICIES GLOBAL MARKET VOLATILITY SKILLED LABOR BASIC LABOR DEMAND TURNOVER FUTURE VALUE MOBILE PHONE FOREIGN DIRECT INVESTMENT WORLD ECONOMY DIVIDEND INCOMES LABOR RELATIONS MACROECONOMIC EFFECTS SHARES LABOR MARKETS ECONOMIC THEORY COLLECTIVE BARGAINING ECONOMICS OUTPUT INTERNET SHAREHOLDERS COMMODITY PRICES TRADE INTERESTS THEORY EMERGING ECONOMY GROWTH RATE ENGINEERING INVESTMENT SHARE CRISES LABORERS BARGAINING INNOVATION LAW PROFIT INTERNATIONAL LAW IT CHILD LABOR SHAREHOLDER RAPID GROWTH AT COLLECTIVE ACTION DEMOGRAPHIC CUSTOMERS LABOUR TECHNOLOGIES COMMODITY OUTSOURCING GLOBAL ECONOMIC PROSPECTS PRICES INNOVATIONS COMPETITION
Online Access:	http://documents.worldbank.org/curated/en/2016/03/26009196/globalization-labor-markets-growth-prospects-nations http://hdl.handle.net/10986/23929

id	okr-10986-23929
recordtype	oai_dc
spelling	okr-10986-239292021-06-14T10:12:17Z Globalization of Labor Markets and the Growth Prospects of Nations Basu, Kaushik ROBOTS TECHNOLOGY SECTOR EMPLOYMENT RISKS LABOR MARKET POLICY RIGHTS FOREIGN CAPITAL RED TAPE SKILLED WORKERS SKILLED WORKERS BARRIER GLOBAL MARKETS INFORMATION TECHNOLOGY INCOME INTEREST PRIVATIZATION DEBT CRISIS EMERGING ECONOMIES EXCHANGE INFORMATION LABOR FORCE DEVELOPING COUNTRIES POLITICAL ECONOMY DEVELOPING ECONOMIES INTERNATIONAL LABOUR ORGANIZATION TECHNOLOGICAL CHANGES PROFIT SHARING MICRO‐COMPUTERS WORLD DEVELOPMENT INDICATORS OUTPUT RATIO EFFECTS BONDS INCENTIVES SYSTEM SAN PRICE TAX LABOR FORCE PARTICIPATION SUSTAINABLE DEVELOPMENT SAVING NEW TECHNOLOGY EMERGING MARKET ECONOMIES DRIVERS COMPUTER APARTHEID NEW TECHNOLOGIES FEMALE LABOR FORCE LABOR MARKET FISCAL POLICIES SAVINGS DIGITAL GLOBAL ECONOMY DEVELOPMENT ECONOMICS PROFIT‐SHARING COMPUTERS INFORMATION TECHNOLOGY ECONOMIC CRISES LABOR STANDARDS ADVANCED ECONOMIES TECHNOLOGICAL ADVANCES EMERGING ECONOMIES MINI‐COMPUTERS DEMOCRACY PRODUCTIVITY INTEREST RATES GLOBALIZATION EMERGING MARKET SELF‐EMPLOYED MARKETS DEBT ORGANIZATIONS AUTOMATION CONNECTIVITY TECHNOLOGICAL INNOVATIONS DIGITAL TECHNOLOGIES ECONOMIC REFORMS STANDARDS LABOR DIVIDENDS LIBERALIZATION EFFICIENCY MARKET ECONOMIES DIGITAL DIVIDE FEMALE LABOR PROFIT MOTIVE INDUSTRIAL ROBOTS UNEMPLOYMENT TECHNOLOGY LABOR MARKET DEREGULATION SOVEREIGN DEBT HUMAN CAPITAL TECHNOLOGICAL CHANGE TECHNOLOGY SECTOR WAGES POLICIES GLOBAL MARKET VOLATILITY SKILLED LABOR POLITICAL ECONOMY BASIC LABOR DEMAND TURNOVER FUTURE VALUE MOBILE PHONE FOREIGN DIRECT INVESTMENT WORLD ECONOMY INDUSTRIAL ROBOTS MARKET ECONOMIES LABOR DEMAND DIVIDEND INCOMES LABOR RELATIONS MACROECONOMIC EFFECTS SHARES LABOR MARKETS LABOR FORCE ECONOMIC THEORY COLLECTIVE BARGAINING NEW TECHNOLOGIES TECHNOLOGICAL INNOVATIONS ECONOMIC CRISES ECONOMICS OUTPUT SKILLED LABOR INTERNET SHAREHOLDERS MACROECONOMIC EFFECTS LABOR STANDARDS COMMODITY PRICES TRADE INTERESTS THEORY EMERGING ECONOMY GROWTH RATE ENGINEERING INVESTMENT SHARE FEMALE LABOR FORCE CRISES LABORERS BARGAINING INNOVATION FEMALE LABOR LAW PROFIT INTERNATIONAL LAW IT CHILD LABOR NEW TECHNOLOGY SHAREHOLDER RAPID GROWTH AT LABOR FORCE PARTICIPATION COLLECTIVE ACTION DEMOGRAPHIC CUSTOMERS LABOUR COLLECTIVE ACTION LABOR MARKETS TECHNOLOGIES COMMODITY PRICES COMMODITY OUTSOURCING GLOBAL ECONOMIC PROSPECTS PRICES DIGITAL TECHNOLOGIES INNOVATIONS COMPETITION The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations. This paper contends that there is however a structural shift beneath the global economy that is now reaching a critical mass, and that accounts for many of these crises, despite the diversity of manifestations. This shift is occasioned by two kinds of technological changes--the familiar labor-saving and what is here called "labor-linking." The paper argues that these changes (1) create a short-term window of opportunity for developing and emerging economies, but (2) in the long run constitute a major, multilateral policy challenge for all. To meet this challenge, we have to think outside the box and conceive of innovative policies. The paper briefly speculates on what those policies might be. 2016-03-10T16:45:51Z 2016-03-10T16:45:51Z 2016-03 Working Paper http://documents.worldbank.org/curated/en/2016/03/26009196/globalization-labor-markets-growth-prospects-nations http://hdl.handle.net/10986/23929 English en_US Policy Research Working Paper;No. 7590 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ROBOTS TECHNOLOGY SECTOR EMPLOYMENT RISKS LABOR MARKET POLICY RIGHTS FOREIGN CAPITAL RED TAPE SKILLED WORKERS SKILLED WORKERS BARRIER GLOBAL MARKETS INFORMATION TECHNOLOGY INCOME INTEREST PRIVATIZATION DEBT CRISIS EMERGING ECONOMIES EXCHANGE INFORMATION LABOR FORCE DEVELOPING COUNTRIES POLITICAL ECONOMY DEVELOPING ECONOMIES INTERNATIONAL LABOUR ORGANIZATION TECHNOLOGICAL CHANGES PROFIT SHARING MICRO‐COMPUTERS WORLD DEVELOPMENT INDICATORS OUTPUT RATIO EFFECTS BONDS INCENTIVES SYSTEM SAN PRICE TAX LABOR FORCE PARTICIPATION SUSTAINABLE DEVELOPMENT SAVING NEW TECHNOLOGY EMERGING MARKET ECONOMIES DRIVERS COMPUTER APARTHEID NEW TECHNOLOGIES FEMALE LABOR FORCE LABOR MARKET FISCAL POLICIES SAVINGS DIGITAL GLOBAL ECONOMY DEVELOPMENT ECONOMICS PROFIT‐SHARING COMPUTERS INFORMATION TECHNOLOGY ECONOMIC CRISES LABOR STANDARDS ADVANCED ECONOMIES TECHNOLOGICAL ADVANCES EMERGING ECONOMIES MINI‐COMPUTERS DEMOCRACY PRODUCTIVITY INTEREST RATES GLOBALIZATION EMERGING MARKET SELF‐EMPLOYED MARKETS DEBT ORGANIZATIONS AUTOMATION CONNECTIVITY TECHNOLOGICAL INNOVATIONS DIGITAL TECHNOLOGIES ECONOMIC REFORMS STANDARDS LABOR DIVIDENDS LIBERALIZATION EFFICIENCY MARKET ECONOMIES DIGITAL DIVIDE FEMALE LABOR PROFIT MOTIVE INDUSTRIAL ROBOTS UNEMPLOYMENT TECHNOLOGY LABOR MARKET DEREGULATION SOVEREIGN DEBT HUMAN CAPITAL TECHNOLOGICAL CHANGE TECHNOLOGY SECTOR WAGES POLICIES GLOBAL MARKET VOLATILITY SKILLED LABOR POLITICAL ECONOMY BASIC LABOR DEMAND TURNOVER FUTURE VALUE MOBILE PHONE FOREIGN DIRECT INVESTMENT WORLD ECONOMY INDUSTRIAL ROBOTS MARKET ECONOMIES LABOR DEMAND DIVIDEND INCOMES LABOR RELATIONS MACROECONOMIC EFFECTS SHARES LABOR MARKETS LABOR FORCE ECONOMIC THEORY COLLECTIVE BARGAINING NEW TECHNOLOGIES TECHNOLOGICAL INNOVATIONS ECONOMIC CRISES ECONOMICS OUTPUT SKILLED LABOR INTERNET SHAREHOLDERS MACROECONOMIC EFFECTS LABOR STANDARDS COMMODITY PRICES TRADE INTERESTS THEORY EMERGING ECONOMY GROWTH RATE ENGINEERING INVESTMENT SHARE FEMALE LABOR FORCE CRISES LABORERS BARGAINING INNOVATION FEMALE LABOR LAW PROFIT INTERNATIONAL LAW IT CHILD LABOR NEW TECHNOLOGY SHAREHOLDER RAPID GROWTH AT LABOR FORCE PARTICIPATION COLLECTIVE ACTION DEMOGRAPHIC CUSTOMERS LABOUR COLLECTIVE ACTION LABOR MARKETS TECHNOLOGIES COMMODITY PRICES COMMODITY OUTSOURCING GLOBAL ECONOMIC PROSPECTS PRICES DIGITAL TECHNOLOGIES INNOVATIONS COMPETITION
spellingShingle	ROBOTS TECHNOLOGY SECTOR EMPLOYMENT RISKS LABOR MARKET POLICY RIGHTS FOREIGN CAPITAL RED TAPE SKILLED WORKERS SKILLED WORKERS BARRIER GLOBAL MARKETS INFORMATION TECHNOLOGY INCOME INTEREST PRIVATIZATION DEBT CRISIS EMERGING ECONOMIES EXCHANGE INFORMATION LABOR FORCE DEVELOPING COUNTRIES POLITICAL ECONOMY DEVELOPING ECONOMIES INTERNATIONAL LABOUR ORGANIZATION TECHNOLOGICAL CHANGES PROFIT SHARING MICRO‐COMPUTERS WORLD DEVELOPMENT INDICATORS OUTPUT RATIO EFFECTS BONDS INCENTIVES SYSTEM SAN PRICE TAX LABOR FORCE PARTICIPATION SUSTAINABLE DEVELOPMENT SAVING NEW TECHNOLOGY EMERGING MARKET ECONOMIES DRIVERS COMPUTER APARTHEID NEW TECHNOLOGIES FEMALE LABOR FORCE LABOR MARKET FISCAL POLICIES SAVINGS DIGITAL GLOBAL ECONOMY DEVELOPMENT ECONOMICS PROFIT‐SHARING COMPUTERS INFORMATION TECHNOLOGY ECONOMIC CRISES LABOR STANDARDS ADVANCED ECONOMIES TECHNOLOGICAL ADVANCES EMERGING ECONOMIES MINI‐COMPUTERS DEMOCRACY PRODUCTIVITY INTEREST RATES GLOBALIZATION EMERGING MARKET SELF‐EMPLOYED MARKETS DEBT ORGANIZATIONS AUTOMATION CONNECTIVITY TECHNOLOGICAL INNOVATIONS DIGITAL TECHNOLOGIES ECONOMIC REFORMS STANDARDS LABOR DIVIDENDS LIBERALIZATION EFFICIENCY MARKET ECONOMIES DIGITAL DIVIDE FEMALE LABOR PROFIT MOTIVE INDUSTRIAL ROBOTS UNEMPLOYMENT TECHNOLOGY LABOR MARKET DEREGULATION SOVEREIGN DEBT HUMAN CAPITAL TECHNOLOGICAL CHANGE TECHNOLOGY SECTOR WAGES POLICIES GLOBAL MARKET VOLATILITY SKILLED LABOR POLITICAL ECONOMY BASIC LABOR DEMAND TURNOVER FUTURE VALUE MOBILE PHONE FOREIGN DIRECT INVESTMENT WORLD ECONOMY INDUSTRIAL ROBOTS MARKET ECONOMIES LABOR DEMAND DIVIDEND INCOMES LABOR RELATIONS MACROECONOMIC EFFECTS SHARES LABOR MARKETS LABOR FORCE ECONOMIC THEORY COLLECTIVE BARGAINING NEW TECHNOLOGIES TECHNOLOGICAL INNOVATIONS ECONOMIC CRISES ECONOMICS OUTPUT SKILLED LABOR INTERNET SHAREHOLDERS MACROECONOMIC EFFECTS LABOR STANDARDS COMMODITY PRICES TRADE INTERESTS THEORY EMERGING ECONOMY GROWTH RATE ENGINEERING INVESTMENT SHARE FEMALE LABOR FORCE CRISES LABORERS BARGAINING INNOVATION FEMALE LABOR LAW PROFIT INTERNATIONAL LAW IT CHILD LABOR NEW TECHNOLOGY SHAREHOLDER RAPID GROWTH AT LABOR FORCE PARTICIPATION COLLECTIVE ACTION DEMOGRAPHIC CUSTOMERS LABOUR COLLECTIVE ACTION LABOR MARKETS TECHNOLOGIES COMMODITY PRICES COMMODITY OUTSOURCING GLOBAL ECONOMIC PROSPECTS PRICES DIGITAL TECHNOLOGIES INNOVATIONS COMPETITION Basu, Kaushik Globalization of Labor Markets and the Growth Prospects of Nations
relation	Policy Research Working Paper;No. 7590
description	The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations. This paper contends that there is however a structural shift beneath the global economy that is now reaching a critical mass, and that accounts for many of these crises, despite the diversity of manifestations. This shift is occasioned by two kinds of technological changes--the familiar labor-saving and what is here called "labor-linking." The paper argues that these changes (1) create a short-term window of opportunity for developing and emerging economies, but (2) in the long run constitute a major, multilateral policy challenge for all. To meet this challenge, we have to think outside the box and conceive of innovative policies. The paper briefly speculates on what those policies might be.
format	Working Paper
author	Basu, Kaushik
author_facet	Basu, Kaushik
author_sort	Basu, Kaushik
title	Globalization of Labor Markets and the Growth Prospects of Nations
title_short	Globalization of Labor Markets and the Growth Prospects of Nations
title_full	Globalization of Labor Markets and the Growth Prospects of Nations
title_fullStr	Globalization of Labor Markets and the Growth Prospects of Nations
title_full_unstemmed	Globalization of Labor Markets and the Growth Prospects of Nations
title_sort	globalization of labor markets and the growth prospects of nations
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/03/26009196/globalization-labor-markets-growth-prospects-nations http://hdl.handle.net/10986/23929
_version_	1764455196062121984

Globalization of Labor Markets and the Growth Prospects of Nations

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