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Labor market rigidities and social inequality in Korea : The role of legal, economic and social governance

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  • Labor market rigidities and social inequality in Korea
  • Hlasny, Vladimir
  • Korea Economic Institute of America


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Title Labor market rigidities and social inequality in Korea
Similar Titles
Sub Title

The role of legal, economic and social governance

Material Type Reports
Author(English)

Hlasny, Vladimir

Publisher

Washington, DC, U.S. : Korea Economic Institute of America

Date 2016-10
Pages 13
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Social Development < Employment
Holding Korea Economic Institute of America
License

Abstract

This study explores the organization of the Korean labor market, systemic faults in it leading to undesirable outcomes and their determinants, and consequences for workers and employers. Long-term implications for the arrangement and cohesion of society at large are discussed. The study has three specific objectives: 1) to describe the present labor relations, structure and governance of the Korean labor market through the prism of imperfect/regulated competition theory, with a focus on rigidities and systemic faults in the present organization; 2) to identify structural determinants of the faults, and their intermediate and long-term consequences; and 3) to inform regulatory and legal reforms in order to achieve superior modes of governance and market organization. The study focuses on understanding of the role of social, structural and regulatory constraints on effective matching of workers and jobs – their sources, manifestations, and consequences. (The rest omitted)