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Regulating Markets So More People Find Better Jobs

Author

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  • Eliana Carranza
  • Federica Saliola
  • Truman Packard

Abstract

This paper proposes a dynamic regulatory framework that adapts to the evolving structural transformation of economies across sectoral, spatial, occupational, and organizational dimensions. It highlights how well-designed and appropriately enforced labor and product market regulations (LMRs and PMRs) can enhance labor market outcomes, support job creation, and improve employment quality. A dynamic approach involves tailoring regulations to economic shifts, market failures, and administrative capacities, fostering structural transformation while addressing emerging challenges associated with service-led growth and digitalization. The paper advocates for a much greater investment in labor market observatories (LMOs) as tools to guide data-driven, agile regulatory responses akin to monetary policy adjustments. By integrating LMR and PMR, it outlines a path toward sustainable economic transformation, while discussing political economy challenges inherent in implementing dynamic regulatory frameworks.

Suggested Citation

  • Eliana Carranza & Federica Saliola & Truman Packard, 2025. "Regulating Markets So More People Find Better Jobs," Social Protection Discussion Papers and Notes 197248, The World Bank.
    • Handle: RePEc:wbk:hdnspu:197248
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