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Macroeconomic Impact Of Product And Labor Market Reforms On Informality And Unemployment In India
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Book Synopsis Macroeconomic Impact of Product and Labor Market Reforms on Informality and Unemployment in India by : Rahul Anand
Download or read book Macroeconomic Impact of Product and Labor Market Reforms on Informality and Unemployment in India written by Rahul Anand and published by International Monetary Fund. This book was released on 2016-03-02 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the implications of lowering formal regulations in labor and product markets on informality and macroeconomic outcomes in India. We estimate a DSGE model with an informal sector, and rigidities in the formal labor and product markets. Along with increasing GDP and employment, deregulation also leads to lower informality and greater product market competition. Slow reallocation of resources between the formal and informal sectors leads to some adverse impacts in the short run that can be minimized by implementing a combined package of reforms. These impacts are shown to be greater in an economy with a larger informal sector.
Book Synopsis Macroeconomic Impacts of Gender Inequality and Informality in India by : Purva Khera
Download or read book Macroeconomic Impacts of Gender Inequality and Informality in India written by Purva Khera and published by International Monetary Fund. This book was released on 2016-02-09 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the macroeconomic interaction between informality and gender inequality in the labor market. A dynamic stochastic general equilibrium model is built to study the impact of gender-targeted policies on female labor force participation, female formal employment, gender wage gap, as well as on aggregate economic outcomes. The model is estimated using Bayesian techniques and Indian data. Although these policies are found to increase female labor force participation and output, lack of sufficient formal job creation due to labor market rigidities leads to an increase in unemployment and informality, and further widens gender gaps in formal employment and wages. Simultaneously implementing such policies with formal job creating policies helps remove these adverse impacts while also leading to significantly larger gains in output.
Book Synopsis Resource Misallocation in India: The Role of Cross-State Labor Market Reform by : Mr.Adil Mohommad
Download or read book Resource Misallocation in India: The Role of Cross-State Labor Market Reform written by Mr.Adil Mohommad and published by International Monetary Fund. This book was released on 2021-02-26 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the macro level, productivity is driven by technology and the efficiency of resource allocation, as outcomes of firms’ decision making. The relatively high level of resource misallocation in India’s formal manufacturing sector is well documented. We build on this research to further investigate the drivers of misallocation, exploiting micro-level variation across Indian states. We find that states with less rigid labor markets have lesser misallocation. We also examine the interaction of labor market rigidities with informality which is a key feature of India’s labor markets. Our results suggest that reducing labor market rigidities in states with high informality has a net positive effect on aggregate productivity.
Book Synopsis Global Economic Prospects, January 2019 by : World Bank Group
Download or read book Global Economic Prospects, January 2019 written by World Bank Group and published by World Bank Publications. This book was released on 2019-02-12 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The outlook for the global economy has darkened. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty. In this difficult environment, it is of paramount importance for emerging market and developing economies to rebuild policy buffers while laying a stronger foundation for future growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,
Book Synopsis Good Jobs, Bad Jobs, No Jobs by : Tony Avirgan
Download or read book Good Jobs, Bad Jobs, No Jobs written by Tony Avirgan and published by . This book was released on 2005 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Outsiders written by Sugata Marjit and published by Oxford University Press. This book was released on 2011-01-19 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The informal economy is a dynamic, active, and hotly debated domain in the developing world. Unfortunately, it remains one of the most ignored areas in mainstream economic theory and development economics. In this book, Marjit and Kar provide a detailed theoretical overview and analytical understanding of informal labour markets in the context of economic reforms. Grounded in the neo-classical general equilibrium framework, the book analyses the impact of deregulatory policies on the welfare of informal workers in a segmented labour market. It discusses how informal wage responds to unemployment in the formal sector by exploring the interactions between the formal and the informal labour markets. The authors also examine institutional factors—political, economic, and governance mechanisms—to explore the major causes that sustain or impede the dynamism of informal labour markets. They offer empirical applications using official data sources and micro-level case studies of informal activities in West Bengal, Maharashtra, and Gujarat.
Book Synopsis Macroeconomic Impact of Product and Labor Market Reforms on Informality and Unemployment in India by : Rahul Anand
Download or read book Macroeconomic Impact of Product and Labor Market Reforms on Informality and Unemployment in India written by Rahul Anand and published by International Monetary Fund. This book was released on 2016-03-07 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the implications of lowering formal regulations in labor and product markets on informality and macroeconomic outcomes in India. We estimate a DSGE model with an informal sector, and rigidities in the formal labor and product markets. Along with increasing GDP and employment, deregulation also leads to lower informality and greater product market competition. Slow reallocation of resources between the formal and informal sectors leads to some adverse impacts in the short run that can be minimized by implementing a combined package of reforms. These impacts are shown to be greater in an economy with a larger informal sector.
Book Synopsis Reforms and Economic Transformation in India by : Jagdish Bhagwati
Download or read book Reforms and Economic Transformation in India written by Jagdish Bhagwati and published by Oxford University Press. This book was released on 2012-10-05 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reforms and Economic Transformation in India is the second volume in the series Studies in Indian Economic Policies. The first volume, India's Reforms: How They Produced Inclusive Growth (OUP, 2012), systematically demonstrated that reforms-led growth in India led to reduced poverty among all social groups. They also led to shifts in attitudes whereby citizens overwhelmingly acknowledge the benefits that accelerated growth has brought them and as voters, they now reward the governments that deliver superior economic outcomes and punish those that fail to do so. This latest volume takes as its starting point the fact that while reforms have undoubtedly delivered in terms of poverty reduction and associated social objectives, the impact has not been as substantial as seen in other reform-oriented economies such as South Korea and Taiwan in the 1960s and 1970s, and more recently, in China. The overarching hypothesis of the volume is that the smaller reduction in poverty has been the result of slower transformation of the economy from a primarily agrarian to a modern, industrial one. Even as the GDP share of agriculture has seen rapid decline, its employment share has declined very gradually. More than half of the workforce in India still remains in agriculture. In addition, non-farm workers are overwhelmingly in the informal sector. Against this background, the nine original essays by eminent economists pursue three broad themes using firm level data in both industry and services. The papers in part I ask why the transformation in India has been slow in terms of the movement of workers out of agriculture, into industry and services, and from informal to formal employment. They address what India needs to do to speed up this transformation. They specifically show that severe labor-market distortions and policy bias against large firms has been a key factor behind the slow transformation. The papers in part II analyze the transformation that reforms have brought about within and across enterprises. For example, they investigate the impact of privatization on enterprise profitability. Part III addresses the manner in which the reforms have helped promote social transformation. Here the papers analyze the impact the reforms have had on the fortunes of the socially disadvantaged groups in terms of wage and education outcomes and as entrepreneurs.
Book Synopsis The Labor Market and Economic Adjustment by : Pierre-Richard Agénor
Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Book Synopsis Closing Gender Gaps in India: Does Increasing Womens’ Access to Finance Help? by : Purva Khera
Download or read book Closing Gender Gaps in India: Does Increasing Womens’ Access to Finance Help? written by Purva Khera and published by International Monetary Fund. This book was released on 2018-10-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gender gaps in womens’ economic opportunities—labor market and entrepreneurship—have remained high in India. Lack of adequate collateral limits women entrepreneurs’ ability to access formal finance, leaving them to rely on informal sources, constraining their growth. A small-open economy DSGE model is built to investigate the long-run macroeconomic impacts from closing gender gaps in financial access. Results suggest that an increase in women entrepreneurs access to formal credit results in higher female entrepreneurship and employment, which boosts India’s output by 1.6 percent. However, regulations and gender-specific constraints in the labor market limit potential gains as females’ access to quality jobs in the formal sector remains restricted. The paper shows that the factors influencing the number of females are different from those influencing the share of females in formal economic activity. Combining gender-targeted financial inclusion policies with policies that lower constraints on formal sector employment could boost India’s output by 6.8 percent.
Book Synopsis The Long Shadow of Informality by : Franziska Ohnsorge
Download or read book The Long Shadow of Informality written by Franziska Ohnsorge and published by World Bank Publications. This book was released on 2022-02-09 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
Book Synopsis India's Informal Economy by : Bir Singh (Professor of economics)
Download or read book India's Informal Economy written by Bir Singh (Professor of economics) and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The demand for economic inclusion has increasingly intensified, as manifested by the growing movements of farmers, workers, and social activists. Therefore, the question of adequate social representation of marginalized and underprivileged communities has to be made pivotal in the discourse of inclusion. This book investigates selected aspects of labour market informality in India. It examines the key factors that have expedited labour informality- contractualisation - in the manufacturing sector since the early 1990s. It analyses the features of informality and inclusion from the perspective of not just class but also the caste hierarchy in Indian society, thus offering readers an exhaustive overview of economic inclusion following the economic reforms and providing fresh insights into labour market informality through the lens of the social divisions in Indian society. Developed on a wide canvas of multiple processes, policies and factors that have contributed to this phenomenon, the book offers an elaborate analysis of contractualisation within the industry from the perspectives of labour legislation and the labour market. In addition, it contextualizes the issue of job informality for the post economic reforms era, from 1991 onwards. It examines the impact of the policies of economic reform on contractualisation across industries and states. Further, the book discusses the dynamics of the labour market reforms in India, given that there is a higher incidence of labour informality in India. It also highlights how the policy quest for inclusive growth has remained unfulfilled. This book will be a useful guide for advanced students, academic researchers, scholars and policy makers that are engaged with the issue of informal sector employment"--
Book Synopsis India's Informal Economy by : Bir Singh (Professor of economics)
Download or read book India's Informal Economy written by Bir Singh (Professor of economics) and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The demand for economic inclusion has increasingly intensified, as manifested by the growing movements of farmers, workers, and social activists. Therefore, the question of adequate social representation of marginalized and underprivileged communities has to be made pivotal in the discourse of inclusion. This book investigates selected aspects of labour market informality in India. It examines the key factors that have expedited labour informality- contractualisation - in the manufacturing sector since the early 1990s. It analyses the features of informality and inclusion from the perspective of not just class but also the caste hierarchy in Indian society, thus offering readers an exhaustive overview of economic inclusion following the economic reforms and providing fresh insights into labour market informality through the lens of the social divisions in Indian society. Developed on a wide canvas of multiple processes, policies and factors that have contributed to this phenomenon, the book offers an elaborate analysis of contractualisation within the industry from the perspectives of labour legislation and the labour market. In addition, it contextualizes the issue of job informality for the post economic reforms era, from 1991 onwards. It examines the impact of the policies of economic reform on contractualisation across industries and states. Further, the book discusses the dynamics of the labour market reforms in India, given that there is a higher incidence of labour informality in India. It also highlights how the policy quest for inclusive growth has remained unfulfilled. This book will be a useful guide for advanced students, academic researchers, scholars and policy makers that are engaged with the issue of informal sector employment"--
Book Synopsis The Macroeconomic Effects of Labor and Product Market Reforms in Morocco by : Mr.Babacar Sarr
Download or read book The Macroeconomic Effects of Labor and Product Market Reforms in Morocco written by Mr.Babacar Sarr and published by International Monetary Fund. This book was released on 2019-10-11 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If sequencing is required, starting with PMRs would be more effective in boosting output, while starting with LMRs would reduce unemployment faster. Finally, increasing unemployment benefits would be more effective if this reform takes place after the implementation of LMRs and PMRs.
Book Synopsis Economic Informality by : Ana Maria Oviedo
Download or read book Economic Informality written by Ana Maria Oviedo and published by World Bank Publications. This book was released on 2009-06-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey assembles recent theoretical and empirical advances in the literature on economic informality and analyzes the causes and costs of informality in developed and developing economies. Using recent evidence, the survey discusses the nature and roots of informal economic activity across countries, distinguishing between informality as the result of exclusion and exit. The survey provides an extensive review of recent international experience with policies aimed at reducing informality, in particular, policies that facilitate the formalization process, create a framework for the transition from informality to formality, lend support to newly created firms, reduce or eliminate inconsistencies across regulation and government agencies, increase information flows, and increase enforcement.
Book Synopsis Bridging Microeconomics and Macroeconomics and the Effects on Economic Development and Growth by : Kostis, Pantelis C.
Download or read book Bridging Microeconomics and Macroeconomics and the Effects on Economic Development and Growth written by Kostis, Pantelis C. and published by IGI Global. This book was released on 2020-10-30 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the mainstream microeconomic and macroeconomic analysis was proven to be insufficient for exploring the dynamic and complex interactions among humans, institutions, and nature in our real economy. On the one side, microeconomics is filled with black-box models that fail to study the actual contractual relations between firms and markets, while on the other side macroeconomics were proven useless because they mistook the beauty of theoretical models for truth. Thus, questions have arisen about using new theoretical and empirical structures that would better describe our economic systems. Bridging Microeconomics and Macroeconomics and the Effects on Economic Development and Growth is an essential reference source that analyzes the hypotheses that govern the relationships of aggregate structures (macroeconomic analysis) that may be compatible with the assumptions that govern the behavior of individuals, households, and firms (micro analysis), and vice versa, in trying to achieve sustainable economic development and growth. Moreover, modern evolutionary growth thinking is used in trying to bridge the inconsistencies between microeconomics and macroeconomics and confront their failures in order to better describe the economic reality. While highlighting a broad range of topics including globalization, economic systems, and the role of institutions, this book is aimed toward economic analysts, financial advisors, policymakers, researchers, academicians, and students.
Book Synopsis Structural Reform Packages, Sequencing, and the Informal Economy by : Zsuzsa Munkacsi
Download or read book Structural Reform Packages, Sequencing, and the Informal Economy written by Zsuzsa Munkacsi and published by International Monetary Fund. This book was released on 2017-05-26 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the macroeconomic impacts of labor and product market deregulation using a small open-economy model with formal and informal markets. We examine both the long-run effects and the transition towards the post-reform equilibrium, while our main focus are reform packages and sequencing. The unofficial sector is a major determinant of the sign, and, in particular, the magnitude of responses. South Africa, an emerging country, is considered when Bayesian estimating the model. Regarding the long run, both labor and product market reforms considerably increase output, although labor market reforms are more successful in decreasing unemployment. Nevertheless, there are short-term costs, for example, a decrease in household consumption, net exports or output, or a decrease in competition. Combining reforms, especially with product market deregulation, are good at reducing short-term costs. Finally, concerning the speed of adjustment, it is usually better to start with a labor market reform.
