Working through the Crisis : Jobs and Policies in Developing Countries during the Great Recession

Banerji, Arup (EDT); Newhouse, David (EDT); Paci, Pierella (EDT); Robalino, David (EDT)

ISBN 10: 082138967X / ISBN 13: 9780821389676

Editore: World Bank Publications, 2013

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Dati bibliografici

• Titolo: Working through the Crisis : Jobs and Policies in Developing Countries during the Great Recession
• Editore: World Bank Publications
• Data di pubblicazione: 2013
• Lingua: Inglese
• ISBN 10: 082138967X
• ISBN 13: 9780821389676
• Rilegatura: Brossura
• Condizione: As New

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Riassunto

Working through the Crisis documents how the Great Recession affected employment outcomes in developingcountries and how those countries’ governments responded. The chapters comprise a unique compilation ofdata and analysis from different sources, including an inventory of policies implemented during the crisis,among countries in Latin America, Eastern Europe, Asia, and Africa.The effects of the crisis depended on the size of the shock, the channels through which it was manifested,the structure of institutions in the country—especially labor institutions—and the specific policy responsesundertaken. Although these factors resulted in differing outcomes among the countries studied, commonpatterns emerge. In terms of impacts, overall adjustments involved reductions in earnings growth rather than inemployment growth, although the quality of employment was also affected. Youth were doubly affected, beingmore likely to experience unemployment and reduced wages. Men seemed to have been more severelyaffected than women. In most countries where data are available, there were no major differences betweenskilled and unskilled workers or between those living in urban and rural areas.In terms of policy responses, this crisis was characterized by a high prevalence of active interventions in the labormarket and the expansion of income protection systems, as well as countercyclical stimulus measures. Whentimed well and sufficiently large, these stimulus measures were effective in reducing adverse employmenteffects.Specific sectoral stimulus policies also had beneficial effects when they were well targeted. However, socialprotection and labor market policy responses were often ad hoc, and not in line with the types of adjustmentsworkers experienced. As a result, these policies and programs were typically biased toward formal sector workersand did not necessarily reach those who needed them the most. In retrospect, there is a sense that developingcountries were not well prepared to deal with the effects of the Great Recession, and that the further developmentof social protection systems is crucial to better protect workers and their families from the next crisis.