Financial openness and employment the need for coherent international and national policies

Rolph van der. Hoeven and Malte. Lübker
Authors registered in the RePEc Author Service: Malte Luebker

ILO Working Papers from International Labour Organization

Abstract: Argues that the effects of financial liberalization on employment and incomes often carry disturb economic and social development and that financial liberalization warrants at least as much attention as trade liberalization. Compares and weighs the potential benefits in terms of growth against the adverse effects of volatility and crisis of financial liberalization, and in particular with debt and portfolio flows. Stresses the concern of the World Commission on the Social Dimension of Globalization that gains in trade and FDI run the risk of being set back by financial instability and crisis. Concludes that volatility in international financial markets is currently one of the most harmful factors for enterprises and labour in developing countries.Stresses the need for greater policy coherence between international and national financial, economic and employment policies aimed at giving greater attention to employment and incomes.

Keywords: employment; unemployment; wages; capital flow.; foreign investment.; financial market; international monetary system; trade liberalization.; economic recession; economic cooperation; economic policy; emploi; chômage; salaire; flux de capitaux; investissement étranger; marché financier; système monétaire international; libéralisation des échanges; récession économique; coopération économique; politique économique; empleo; desempleo; salario; corriente de capitales; inversiones extranjeras; mercado financiero; sistema monetario internacional; liberalización del intercambio; recesión económica; cooperación económica; política económica (search for similar items in EconPapers)
Pages: 39 pages
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Published in Working paper series, Policy Integration Department.

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