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International Economics Commons

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Employment

Series

1989

Articles 1 - 1 of 1

Full-Text Articles in International Economics

Wage-Setting Institutions And Economic Growth, Gary S. Fields, Henry Wan Jr. Jan 1989

Wage-Setting Institutions And Economic Growth, Gary S. Fields, Henry Wan Jr.

Articles and Chapters

Wage-setting institutions in several Asian and Latin American economies are compared and contrasted. The Asian economies have relied more on market wage determination, whereas the Latin American economies have encouraged institutions which push wages in key sectors up above market-clearing levels. Market wage determination, combined with export-led growth, has resulted in rapidly rising real wages in the context of full employment in the Asian economies. The Latin American economies have done less well.