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THIS DOI METADATA WAS LAST UPDATED: 2025-01-13 16:01
Cite as
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Full Title
ECONOMIA PUBBLICA
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Publisher
FrancoAngeli
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ISSN
0390-6140 (Printed Journal)
1972-5566 (Online Journal)
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Journal Issue Number
3
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Journal Issue Designation
3
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Journal Issue Date
2024
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Full Title
The evolution of labour market institutions in Europe and Asia: A focus on Italy, Singapore and Korea
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By (author)
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First Page
355
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Last Page
375
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Language of text
English
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Publication Date
2024/12
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Copyright
2024 FrancoAngeli srl
Main description
The impact of institutional change upon the labour market is a topic hugely discussed in the literature. This paper investigates the evolution of labour market institutions in Italy, Singapore, and Korea to underline common features and differences. The three countries differ enormously for geographical and historical reasons and are located in two very unlike continent, Europe and Asia. Nevertheless, beyond geographical, historical and economic dissimilarities, Italy, Singapore and Korea show some common trend in their labour markets: an increase in precariousness and a drop in welfare provisions, as a consequence of the liberal reforms. In Europe, the failure of the welfare system brought about a change of direction towards workfare programs. In Asia, the industrial factory of the world, low-cost workers attract foreign investments, therefore, the weak segments of society, such as women, low skilled, migrants and young people found difficult to sign standard employment contracts. The comparative policy analysis aims at showing that a consensus on the mainstream economic thought supported by the international organisations (and stakeholders) has driven the evolution of labour market institutions in both Europe and Asia. Labour market deregulation has been depicted as a panacea, even if it was not the specific need of a given context. In addition, the comparative policy analysis is helpful to know and deepen the "best practices" adopted all over the world, in order to develop and implement mission-oriented public policies in the European labour market.
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