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The 1990s trade and wages debate in retrospect

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  • Adrian Wood

Abstract

This paper revisits the trade and wages debate of the 1990s in the light of widespread concern that, contrary to the consensus from that debate, the costs of globalisation to less†skilled workers in developed countries have been an important cause of the recent rise of populism. The 1990s debate stimulated a new and now large field of economic research, but in hindsight it suffered from errors of omission on both sides, and from an academic perspective it ended prematurely. Even now, the available evidence does not permit any firm conclusion about the contribution of globalisation to the rise in inequality in developed countries over the past few decades. The economic consensus at the end of the debate also fostered unwarranted political complacency about the social costs of globalisation.

Suggested Citation

  • Adrian Wood, 2018. "The 1990s trade and wages debate in retrospect," The World Economy, Wiley Blackwell, vol. 41(4), pages 975-999, April.
    • Handle: RePEc:bla:worlde:v:41:y:2018:i:4:p:975-999
    DOI: 10.1111/twec.12619
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    Cited by:

    1. Rod Tyers & Yixiao Zhou, 2023. "Automation and inequality with taxes and transfers," Scottish Journal of Political Economy, Scottish Economic Society, vol. 70(1), pages 68-100, February.
    2. Osea Giuntella & Lorenzo Rotunno & Luca Stella, 2021. "Trade Shocks, Fertility, and Marital Behavior," SOEPpapers on Multidisciplinary Panel Data Research 1126, DIW Berlin, The German Socio-Economic Panel (SOEP).
    3. Mauro Caselli & Andrea Fracasso & Silvio Traverso, 2020. "Globalization and electoral outcomes: Evidence from Italy," Economics and Politics, Wiley Blackwell, vol. 32(1), pages 68-103, March.
    4. Osea Giuntella & Lorenzo Rotunno & Luca Stella, 2022. "Globalization, Fertility and Marital Behavior in a Lowest-Low Fertility Setting," CESifo Working Paper Series 9755, CESifo.
    5. Edwards, T. Huw & Lücke, Matthias, 2021. "Decomposing the growth of the high-skilled wage premium in an advanced economy open to trade," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 766-784.
    6. Barbara Dluhosch, 2021. "The role of perceptions about trade and inequality in the backlash against globalization," SN Business & Economics, Springer, vol. 1(12), pages 1-24, December.
    7. Aurora A. C. Teixeira & Ana Sofia Loureiro, 2019. "FDI, income inequality and poverty: a time series analysis of Portugal, 1973–2016," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 18(3), pages 203-249, October.
    8. Haas, Levi & Schenk-Hoppé, Klaus R., 2019. "International Trade: Smarten up to talk the talk," MPRA Paper 99096, University Library of Munich, Germany.
    9. Kaitlin Alper & Evelyne Huber & John D. Stephens, 2019. "Work and Poverty in Post-Industrial Democracies," LIS Working papers 763, LIS Cross-National Data Center in Luxembourg.
    10. Afonso, Oscar & Gil, Pedro Mazeda, 2024. "Territorial comparative advantage, wage inequality, and monetary policy in the global world," Journal of International Money and Finance, Elsevier, vol. 143(C).
    11. Robert C. Feenstra & Akira Sasahara, 2018. "The ‘China shock,’ exports and U.S. employment: A global input–output analysis," Review of International Economics, Wiley Blackwell, vol. 26(5), pages 1053-1083, November.
    12. Falvey, Rod & Greenaway, David & Silva, Joana, 2010. "Trade liberalisation and human capital adjustment," Journal of International Economics, Elsevier, vol. 81(2), pages 230-239, July.
    13. Jan-Luca Hennig, 2020. "Can labor market institutions mitigate the China syndrome? Evidence from regional labor markets in Europe," Trinity Economics Papers tep1420, Trinity College Dublin, Department of Economics.

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