Globalized Production: Structural Challenges for Developing Country Workers

William Milberg

Chapter 1 in Labor and the Globalization of Production, 2004, pp 1-18 from Palgrave Macmillan

Abstract: Abstract According to the standard theory of international trade, trade liberalization will result in the equalization of wages globally (the factor price equalization effect) and a reduction in wage inequality in countries that are abundant in low-skill labor (the Stolper-Samuelson effect). Decades of trade liberalization, and ten years after the formation of a World Trade Organization with liberalization of trade as its main goal, it would appear that neither of these predictions has been borne out.

Keywords: Trade Liberalization; Domestic Firm; Wage Inequality; Relative Wage; North American Free Trade Agreement (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1057/9780230523968_1

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