Approaching a neoclassical scenario: the labor market in China after the Lewis turning point
نویسنده
چکیده
As China passes through its Lewis turning point characterized first by the appearance of a labor shortage and a constant increase in wages, its labor market shows both features of the dual economy and neoclassical growth. This paper first depicts the trend of population as a root cause of the labor market transition from dual economy to neoclassical scenario. It then reveals the changed labor market profile the labor shortage and wage increase. By examining three major groups of employment, namely, migrant workers, university graduates, and urban vulnerable workers, it tries to explore those unique characteristics of the labor market in such a transitional period and draws policy implications.
منابع مشابه
How Far Is China Towards its Lewisian Turning Point?
With the aid of an analytical framework of the Lewis model revised to reflect the experience of China, this paper examines the country’s dualistic economic development and its unique characteristics. The paper outlines the major effects of China’s growth as achieved during the course of economic reform and the opening-up of the country: the exploitation of the demographic dividend, the realizat...
متن کاملSurplus Labour and Lewis Turning Points in China
It has been widely recognized that China has had a large pool of surplus labour. However, despite its significant implications for wage levels and the Chinese economy, the current debates yield conflicting results as to whether the Lewis turning point has been reached. This paper clarifies a theoretical issue about the mechanisms of surplus labour absorption, subsequently indentifies two Lewis ...
متن کاملبررسی اثر حداقل دستمزد بر عرضه نیروی کار زنان
Despite the several researches that focus on investigating the minimum wage effect on the important economic variables, examining the effect of this variable on the labor supply and rate of labor’s participation in labor market has received less attention. The rate of women’s participation in Iran labor market has had a remarkable decrease in the recent years. On the other hand, real minim...
متن کاملArthur Lewis’ Contribution to Development Thinking and Policy
Arthur Lewis’ seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes or Harrod-Domar nor the later neoclassical production function of Solow seemed relevant for developing countries. As a consequence, his model, rooted in the classical tradition, plus its many extensions, generated an extensive literature at the center of development theory. The approa...
متن کاملA Study of Factors Affecting Elderly Women’s Retirement and Participation in the Labor Market: a Case Study in Tehran
Abstract While the level of women’s participation in the labor market is on the rise in the world, the level of participation of Iranian women has not proportionately increased, and women constitute only a small portion of the active population in Iran. Among factors affecting women’s participation in the labor market are the decisions concerning retirement and the willingness to work by the m...
متن کامل