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Changing labor market conditions and economic development in Hong Kong, the Republic of Korea, Singapore, and Taiwan, China

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  • Changing labor market conditions and economic development in Hong Kong, the Republic of Korea, Singapore, and Taiwan, China
  • Fields, Gary S.
  • The World Bank


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Title Changing labor market conditions and economic development in Hong Kong, the Republic of Korea, Singapore, and Taiwan, China
Similar Titles
Material Type Articles
Author(English)

Fields, Gary S.

Publisher

[Washington, D.C.]:The World Bank

Date 1994-09
Journal Title; Vol./Issue The World Bank Economic Review:vol. 8(no. 3)
Pages 20
Subject Country Hong Kong(Asia and Pacific)
Singapore(Asia and Pacific)
South Korea(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Subject Social Development < Employment
Holding The World Bank

Abstract

In the newly industrializing economies (NIEs) of Hong Kong, the Republic of Korea, Singapore, and Taiwan (China), the entire working population has benefited from labor market institutions. The East Asian NiEs attained and maintained generally full employment, improved their job mixes, raised real earnings, and lowered their rates of poverty. This article reaches two principal conclusions. First, labor market conditions continued to improve in all four economies in the 1980s at rates remarkably similar to their rates of aggregate economic growth. Second, labor market repression was not a major factor in the growth experiences of these economies in the 1980s. It thus appears that labor market repression is neither necessary nor desirable for outward-oriented economic development.