Structural Adjustment without Mass Unemployment?

Edited by Simon Clarke

in Books from Edward Elgar Publishing

Abstract: Mass unemployment has usually been seen as a necessary accompaniment to major structural adjustment, yet in Russia, amid economic collapse, enormous structural changes have taken place with remarkably low levels of unemployment. Some have seen low unemployment as a sign that Russia has undergone no real changes, but others see it as a sign of a remarkably flexible labour market, with very high rates of labour turnover and extremes of wage differentiation allowing low-wage (and even no-wage) employment to persist in the old industries alongside the growth of a new private sector. On this interpretation, Russia shows to the world, in extreme form, both the benefits and the costs of labour market flexibility.

Keywords: Economics and Finance; Social Policy and Sociology (search for similar items in EconPapers)
JEL-codes: K0 (search for similar items in EconPapers)
Date: 1998
ISBN: 9781858987132
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