10/11/2019 | Press release | Distributed by Public on 10/11/2019 07:41
The increasing integration of countries into world trade along with the rapid pace of technological change has helped raise the living standards of billions around the world; however, this progress has had an impact on the labour market, with the expansion of certain industries and the decline of others. The new WTO publication, 'Making globalization more inclusive: Lessons from experience with adjustment policies', reviews the measures governments have taken to reduce any adverse effects that trade and technological advances may have on labour markets.
In addition to an extensive review of the literature on this topic, the publication provides case studies on adjustment polices implemented in seven countries across four continents - namely Denmark, Brazil, Germany, Korea, India, South Africa and Morocco. Each case study examines the labour market of the relevant country, describes the adjustment policy measures implemented there, and examines how these have helped the workforce following major economic shifts linked to globalization.
The publication contributes to the policy debate by helping increase understanding on how governments can ensure that benefits from trade are shared more broadly. It shows how the design of appropriate adjustment policies can respond to concerns regarding the effects of trade and technology on labour markets.