Strategies for Reforming Korea’s Labor Market to Foster Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Strategies for Reforming Korea’s Labor Market to Foster Growth write by Mai Dao. This book was released on 2014-07-25. Strategies for Reforming Korea’s Labor Market to Foster Growth available in PDF, EPUB and Kindle. While the Korean unemployment rates are currently among the lowest in OECD countries, the labor market duality and the underemployment in some segments of the population are important labor market challenges, and factors contributing to lower potential growth. The paper shows the benefits of comprehensive policy reforms aimed at increasing labor force participation and youth employment and reducing duality are likely to be considerable in the medium term.
Korea’s Growth Prospects: Overcoming Demographics and COVID-19
Korea’s Growth Prospects: Overcoming Demographics and COVID-19 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Korea’s Growth Prospects: Overcoming Demographics and COVID-19 write by Mr. Andrew J Swiston. This book was released on 2021-03-26. Korea’s Growth Prospects: Overcoming Demographics and COVID-19 available in PDF, EPUB and Kindle. Korea’s economy has leaped to high-income status thanks to several decades of sustained high growth. However, population aging and shifts in global demand provide headwinds for future growth and Korea now faces the effects of COVID-19 on economic activity. This paper asseses the expected drag on potential growth from these factors and discusses policies that could provide offsetting upward momentum by facilitating structural transformation. We find that potential output growth slowed to about 21⁄2 percent before the COVID-19 pandemic and would have fallen to 2 percent by 2030, mainly due to demographic factors. Moreover, there is a possibility of scarring from the COVID-19 shock as adjustment frictions from structural rigidities interact with shifts in demand and supply patterns, lowering investment and labor force participation. At the same time, industry-level analysis suggests ample scope to raise productivity, especially in services where productivity gains have lagged. Addressing these rigidities could offset a large proportion of the expected downward pressure on potential output.
Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal
Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal write by Yangkyoon Byeon. This book was released on 2017-11-20. Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal available in PDF, EPUB and Kindle. Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model—which served Korea well in the past—has become less effective and politically palatable in recent years. As such, Korea needs a major paradigm shift to embark on a new sustainable and inclusive growth path. But policy response has been modest at best with no major reforms being implemented over the past two decades. We propose a paradigm shift in Korea’s economic framework, involving a simultaneous big push for greater economic freedom and stronger social protection within the parameters set by long-run fiscal sustainability. We also provide a detailed account of structural reforms to boost economic freedom and sustainable funding plans for stronger social protection.
Good Jobs for All in a Changing World of Work The OECD Jobs Strategy
Good Jobs for All in a Changing World of Work The OECD Jobs Strategy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Good Jobs for All in a Changing World of Work The OECD Jobs Strategy write by OECD. This book was released on 2018-12-04. Good Jobs for All in a Changing World of Work The OECD Jobs Strategy available in PDF, EPUB and Kindle. The labour markets of OECD and emerging economies are undergoing major transformations. The widespread slow-down in productivity and wage growth and high levels of income inequality in many countries are coupled with structural changes linked to the digital revolution, globalisation and ...
Labor Market Duality in Korea
Labor Market Duality in Korea - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Labor Market Duality in Korea write by Johanna Schauer. This book was released on 2018-06-01. Labor Market Duality in Korea available in PDF, EPUB and Kindle. Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externalities. In this paper, I study duality in the Korean labor market and analyze its sources and potential policy options. I find that employment protection legislations and large productivity differentials are the key drivers of Korea’s duality. In addition, applying a general equilibrium search-and-matching model and calibrating it to the Korean economy, I show that well-calibrated flexicurity policies can significantly reduce duality and inequality and raise welfare and productivity. Notably, the introduction of all three pillars—flexiblity, a strong safety net and active labor market policies—is critical for its success. If only one pillar is introduced it can result in negative side-effects and might not reduce duality.
