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Is globalisation taking away jobs? An empirical assessment for advanced economies

Antonia Lòpez-Villavicencio and Luis Antonio Reyes Ortiz ()
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Antonia Lòpez-Villavicencio: CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, GATE - Health System Analysis Laboratory - Université de Lyon
Luis Antonio Reyes Ortiz: AFD - Agence française de développement

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Abstract: We empirically investigate the link between economic globalisation and unemployment for a sample of 20 OECD countries over the 1981-2013 period. Controlling for the usual determinants of unemployment, our results show that unemployment is related in a complex way to global economic factors. Specifically , we show that outflows of foreign direct investment and restrictions reduce the unemployment rate, whereas capital account openness raises it. We also find that the standard trade openness measure does not explain unemployment in advanced economies. Finally, the increase in the share of China's imports is not to be blamed for slack in Western labour markets. JEL Classification: E24, F62, C33.

Keywords: Macroeconomic Impacts of Globalisation; Unemployment; Panel Data Models (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec and nep-int
Date: 2018-10-14
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