Abstract:
This paper provides a broad description of labour market developments in
selected LDCs, relying on several direct and indirect indicators, and then
presents a rudimentary quantitative analysis of the determinants of labour
demand. The focus is then turned more specifically on Taiwan and South Korea
(for which data are more readily available), with a view to (i) evaluating the
role of labour markets and employee wage behaviour in supporting a rapid and
export-oriented growth process and to (ii) highlighting some major
differences between the two countries, especially with respect to employee wage
behaviour.
The views expressed in this publication are those of the authors and do not necessarily reflect the views of the BIS or its member central banks.