TY - JOUR
T1 - Globalization and Labour Markets in Boom and Crisis: The Case of Vietnam
AU - Manning, Christopher
PY - 2010
Y1 - 2010
N2 - This paper examines the impact of the global financial crisis on the Vietnam labour market against the backdrop of economic performance and labour dynamics before the crisis. The impact on labour has been milder compared with several neighbouring countries, than might have been expectedfor a country with Vietnam's degree of international exposure. This can be attributed to the timely stimulus package of late 2008, the tight labour market before the crisis, the competitive nature of Vietnam's key exports and the private sector's capacity to compete globally. Although flexible labour markets haye ensured low unemployment, I argue that aspects of the institutional environment have contributed to slower labour market adjustment. Shortages of skilled labour, labour market rigidities and an under-developed industrial relations system could delay recovery and constrain future growth,
AB - This paper examines the impact of the global financial crisis on the Vietnam labour market against the backdrop of economic performance and labour dynamics before the crisis. The impact on labour has been milder compared with several neighbouring countries, than might have been expectedfor a country with Vietnam's degree of international exposure. This can be attributed to the timely stimulus package of late 2008, the tight labour market before the crisis, the competitive nature of Vietnam's key exports and the private sector's capacity to compete globally. Although flexible labour markets haye ensured low unemployment, I argue that aspects of the institutional environment have contributed to slower labour market adjustment. Shortages of skilled labour, labour market rigidities and an under-developed industrial relations system could delay recovery and constrain future growth,
U2 - 10.1355/ae27-1H
DO - 10.1355/ae27-1H
M3 - Article
VL - 27
SP - 136
EP - 157
JO - Journal of Southeast Asian Economies
JF - Journal of Southeast Asian Economies
SN - 2339-5095
IS - 1
ER -