Please join Beloit College as Diep Phan gives a public presentation titled  "Labor Market Policies and Institutions in Asian Economies: Comparative Lessons for Vietnam," as part of the Asian Research Studies Seminar.

Abstract:
In this paper, we review growth and labor market experience of four broad groups of Asian Economies: Newly Industrialized Economies, Southeast Asia, China, and India. While these countries vary in their initial conditions, growth strategies, and labor market policies, we have drawn five broad lessons that allowed the successful economies to grow with equity and to generate productive employment: (i) growth must be labor-intensive and inclusive at the early stage of development, (ii) investments in human capital must be timely and equal, (iii) labor market must be flexible and labor mobility must be fluid, (iv) discriminations among different types of enterprises must be removed, and (v) coordination among government agencies and partnership between the state and the private sector must be promoted.

We have also discussed the implications of the rise of China and India on the applicability of these lessons. The “Chindia” phenomenon has made it more challenging for today’s developing economies to follow the lesson on pursuing labor-intensive export-oriented growth strategy, while making the other lessons ever more important. We apply the lessons learned to Vietnam and recommend medium-term and long-term development strategies and labor market policies.

This event is free and open to the campus and community.