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Corporatism and job satisfaction

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  • Phelps, Edmund
  • Zoega, Gylfi

Abstract

We introduce reported job satisfaction as a measure of economic performance and find it positively correlated with GDP per capita and the labor force participation rate in a sample of OECD countries and negatively correlated with unemployment. Moreover, we find that many measures of corporatism, which we define in the wider sense as institutions that hamper with the allocation of the factors of production and the distribution of income in a capitalist economy, are negatively correlated across countries with job satisfaction. Thus job satisfaction is positively correlated across countries with measures of the protection of property rights and negatively correlated with the volume of regulations of credit markets, labor markets and businesses, in addition to barriers to entrepreneurship, corruption and lack of access to capital. In contrast, measures of capitalism, such as the number of listed companies and market capitalization, are positively correlated with job satisfaction.

Suggested Citation

  • Phelps, Edmund & Zoega, Gylfi, 2013. "Corporatism and job satisfaction," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 35-47.
    • Handle: RePEc:eee:jcecon:v:41:y:2013:i:1:p:35-47
    DOI: 10.1016/j.jce.2013.01.005
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    References listed on IDEAS

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    Cited by:

    1. Feldy Marzena & Bojko Marta, 2020. "Job Expectations and Satisfaction Among Scientists," Marketing of Scientific and Research Organizations, Sciendo, vol. 35(1), pages 1-28, March.
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    3. Cristina Borra & Francisco Gómez-García, 2016. "Wellbeing at Work and the Great Recession: The Effect of Others’ Unemployment," Journal of Happiness Studies, Springer, vol. 17(5), pages 1939-1962, October.

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    More about this item

    Keywords

    Corporatism; Economic performance; Job satisfaction;
    All these keywords.

    JEL classification:

    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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