Human Capital and Adjustment to Trade

Rodney Falvey, David Greenaway and Joana Silva

Chapter 6 in Globalisation and Labour Market Adjustment, 2008, pp 97-114 from Palgrave Macmillan

Abstract: Abstract The labour market consequences of globalisation are controversial. Fears that the process of increased integration into world markets implies increasing job losses and downward pressure on wages are widespread, often resulting in demands for import protection. Growing concerns about the importance of such adjustment costs are evident in the policy community. This debate also has a direct consequence for policy: there have been recent reforms of the USA’s compensation scheme for trade-displaced workers and a new EU Globalisation Adjustment Fund has been created.

Keywords: Human Capital; Trade Liberalisation; Skilled Labour; Adjustment Cost; Unskilled Worker (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230582385_6

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