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Employment-oriented crisis responses : Lessons from Argentina and the Republic of Korea

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  • Employment-oriented crisis responses
  • Prasad, Naren; Gerecke, Megan
  • International Labour Organization


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Title Employment-oriented crisis responses
Similar Titles
Sub Title

Lessons from Argentina and the Republic of Korea

Material Type Reports
Author(English)

Prasad, Naren; Gerecke, Megan

Publisher

Geneva, Switzerland:International Labour Organization

Date 2009-10
Series Title; No Policy brief
Pages 11
Subject Country Argentina(Americas)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Social Development < Employment
Holding SSRN

Abstract

This paper looks at the different policy packages adopted by countries during past financial and economic crises in an attempt to draw lessons for the 2008 crisis. Though it is important to note that the current crisis is unique both in its causes and global scope, its social impact will likely be similar to that of past crises. What emerges from past crises is that policy makers should act quickly and decisively to contain crises, use aggressive fiscal stimuli, and combine economic, financial and social policies into one single comprehensive policy package. Looking closely at Argentina and the Republic of Korea, this brief shows that, by putting employment and social protection at the heart of crisis responses, policy makers can support economic and jobs recovery.