Labor Reform: Undercompetitive Economies and Unprotected Workforce

Christopher Sabatini

Chapter Chapter 12 in Can Latin America Compete?, 2008, pp 239-251 from Palgrave Macmillan

Abstract: Abstract It is difficult to imagine a more dysfunctional labor situation than what currently exists in Latin America. Costs for hiring new employees and firing unnecessary ones make Latin America one of the most inflexible labor markets in the world, throttling the private sector’s capacity to increase productiveness and discouraging new investment. On the labor side, the laws have done little good as well. Constraints on formally hiring new employees have dampened employment growth, increasing the ranks of the jobless and those employed outside the law. These informal workers, who represent close to half of the region’s workforce, exist on the margins of the economy and society, often with few legal and social protections.

Keywords: Labor Market; Informal Sector; International Labour Organization; Informal Worker; Informal Employment (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61047-7_13

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DOI: 10.1057/9780230610477_13

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