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Full-Text Articles in Regional Economics
Falling Labor Income Inequality In Korea’S Economic Growth: Patterns And Underlying Causes, Gyeongjoon Yoo, Gary S. Fields
Falling Labor Income Inequality In Korea’S Economic Growth: Patterns And Underlying Causes, Gyeongjoon Yoo, Gary S. Fields
Gary S Fields
Over the last twenty-five years, the economy of the Republic of Korea achieved a remarkable growth rate of 7 percent per year in real per capita income, causing it to be labeled, justifiably, as a “miracle economy.” This exceptional economic growth has been accompanied by an even more exceptional fall in labor income inequality. Using a newly-developed methodology, we use data from Korea’s Occupational Wage Surveys to quantify the importance of various factors that have contributed to the fall in labor income inequality in Korea. We find the most important factors explaining the level of income inequality are job tenure, …
The Migration Transition In Asia, Gary S. Fields
The Migration Transition In Asia, Gary S. Fields
Gary S Fields
[Excerpt] This theoretical discussion of the migration transition is Asia develops a framework to understand the turning point from labor exporter to labor importer experienced by the Asian NIEs (Hong Kong, Korea, Singapore and Taiwan). The author concludes that the NIEs' demand for labor curve shifted rapidly, primarily due to export-led growth of a labor-intensive character. Because these economies are well integrated, improvements in labor market conditions in individual sectors are transmitted to all workers, discouraging emigration. Despite industry's efforts to mitigate wage increases through labor import, new technology or relocation overseas, the rapidly improving domestic earnings opportunities induced the …
Education And Taiwan’S Changing Employment And Earnings Structure, Gary S. Fields, Amanda Newton Kraus
Education And Taiwan’S Changing Employment And Earnings Structure, Gary S. Fields, Amanda Newton Kraus
Gary S Fields
[Excerpt] Between 1980 and 1992, the enormous changes in economic development in Taiwan had significant impacts on the island's labour market. Examples of these changes include the island's almost legendary and meteoric economic growth, the maintenance of essentially full employment, an increase of around 116 per cent in real labour earnings, considerable upgrading of the educational qualifications of the labour force as a whole, a sustained and systematic shift in the composition of the labour force from agriculture into manufacturing and services and occupational upgrading (defined as the expansion of the share of the labour force in the better occupations, …