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Financial openness and employment the need for coherent international and national policies

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  • Hoeven, Rolph van der.
  • Lübker, Malte.

Abstract

Argues that the effects of financial liberalization on employment and incomes often carry disturb economic and social development and that financial liberalization warrants at least as much attention as trade liberalization. Compares and weighs the potential benefits in terms of growth against the adverse effects of volatility and crisis of financial liberalization, and in particular with debt and portfolio flows. Stresses the concern of the World Commission on the Social Dimension of Globalization that gains in trade and FDI run the risk of being set back by financial instability and crisis. Concludes that volatility in international financial markets is currently one of the most harmful factors for enterprises and labour in developing countries.Stresses the need for greater policy coherence between international and national financial, economic and employment policies aimed at giving greater attention to employment and incomes.

Suggested Citation

  • Hoeven, Rolph van der. & Lübker, Malte., 2006. "Financial openness and employment the need for coherent international and national policies," ILO Working Papers 993887733402676, International Labour Organization.
    • Handle: RePEc:ilo:ilowps:993887733402676
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    1. Singh, Ajit, 2007. "Globalization and Industrial Revolutions in India and China: Implications for Advanced and Developing Economies and for National and International Policies," MPRA Paper 24286, University Library of Munich, Germany.
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    4. Malte Luebker, 2017. "Poverty, employment and inequality in the SDGs: heterodox discourse, orthodox policies?," Chapters, in: Peter A.G. van Bergeijk & Rolph van der Hoeven (ed.), Sustainable Development Goals and Income Inequality, chapter 8, pages 141-168, Edward Elgar Publishing.
    5. Sinem Pınar Gürel & Aykut Lenger, 2016. "The Nonlinear Analysis of External Dynamics on Economic Growth: The Case of Turkey," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 9(1), pages 57-68, April.
    6. Abiola John Asaleye & Adedoyin Isola Lawal & Olabisi Popoola & Philip Olasupo Alege & Oluwatoyese Oluwapemi Oyetade, 2019. "Financial Integration, Employment and Wages Nexus: Evidence from Nigeria," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 15(1), pages 141-154.
    7. Singh, Ajit., 2007. "Globalisation, industrial revolutions in India and China and labour markets in advanced countries : implications for national and international economic policy," ILO Working Papers 993979343402676, International Labour Organization.
    8. Rolph van der Hoeven, 2010. "Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries," Working Papers 99, United Nations, Department of Economics and Social Affairs.

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