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 that accounts for many of these crises, despite the d...

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Main Author:	Basu, Kaushik
Format:	Journal Article
Language:	en_US
Published:	Elsevier 2016
Subjects:	developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge
Online Access:	http://hdl.handle.net/10986/24822

id	okr-10986-24822
recordtype	oai_dc
spelling	okr-10986-248222021-05-26T09:05:19Z Globalization of Labor Markets and the Growth Prospects of Nations Basu, Kaushik developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge 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, multi-lateral policy challenge for all. To meet this challenge we have to think outside of the box and conceive of innovative policies. The paper briefly speculates on what those policies might be. 2016-08-09T14:12:25Z 2016-08-09T14:12:25Z 2016-05-27 Journal Article Journal of Policy Modeling 0161-8938 http://hdl.handle.net/10986/24822 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank Elsevier Publications & Research :: Journal Article Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge
spellingShingle	developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge Basu, Kaushik Globalization of Labor Markets and the Growth Prospects of Nations
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, multi-lateral policy challenge for all. To meet this challenge we have to think outside of the box and conceive of innovative policies. The paper briefly speculates on what those policies might be.
format	Journal Article
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	Elsevier
publishDate	2016
url	http://hdl.handle.net/10986/24822
_version_	1764457740674007040

Globalization of Labor Markets and the Growth Prospects of Nations

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