Front Matter Page
Workers in the Global Economy Workers Need Open Markets and Active Governments
Hafez Ghanem & Michael Walton
Wages, Inequality, and International Integration
Ishac Diwan & Ana Revenga
The Outlook for Workers in the 21st Century
Ishac Diwan & Ana Revenga
Tackling Unemployment Unemployment in Spain: Causes and Remedies
Jeffrey R. Franks
Do Self-Employment Programs Work?
Arvil V. Adams & Sandra Wilson
Transition Economies Corporate Governance in Transition Economies
Masahiko Aoki & Hyung-Ki Kim
Banking Reform in Transition Economies
Michael S. Borish, Millard F. Long, & Michel Noël
Transfers and the Transition from Central Planning
Kathie Krumm, Branko Milanovic, & Michael Walton
Decentralizing Fiscal Systems in Transition Economies
Richard M. Bird, Caroline L. Freund, & Christine I. Wallich
Does Inflation Really Lower Growth?
Michael Bruno
Currency Boards: Issues and Experiences
Adam G.G. Bennett
Agricultural Liberalization in the Uruguay Round
Merlinda D. Ingco
Purchasing Power Parity Measures of Competitiveness
Leonardo Bartolini
Funding the Metropolitan Areas of South Africa
Junaid Ahmad
Books
Development Projects Observed by Albert O. Hirschman
Robert Picciotto
Africa: The Challenge of Transformation by Stephen McCarthy
Luis de Azcarate
Financial Sector Deregulation, Banking Development and Monetary Policy: The Indonesian Experience (1983-1993) by Binhadi
Lloyd R. Kenward
Regional Integration: The West European Experience by William Wallace
Harilaos Vittas
Estimating Equilibrium Exchange Rates edited by John Williamson
Paul Masson
Coping with Capital Surges: The Return of Finance to Latin America edited by Ricardo Ffrench-Davis and Stephany Griffith-Jones
Guy Pfeffermann
Front Matter Page
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Front Matter Page
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Letter from the Editor
The acceptance of market-based development by most developing and former centrally planned economies, and advances in the ease with which goods, capital, and ideas flow around the world are bringing new opportunities to billions of people. Making the most of these opportunities for the world’s workers poses important policy challenges for governments around the globe.
The articles in this issue by Hafez Ghanem and Michael Walton, and by Ishac Diwan and Ana Revenga, which draw on studies prepared for the World Development Report 1995, focus on how governments can meet these challenges. Ghanem and Walton assess which development strategies are likely to raise incomes and improve working conditions. They also focus on the roles of domestic labor market policies and unions in improving labor market efficiency and workplace standards, job security, and income equity.
In their articles, Diwan and Revenga examine whether the growing integration of the world economy offers an opportunity or poses a threat to the world’s workers. Inequality, both across regions and within countries, remains a significant feature of the global economy. But, Diwan and Revenga conclude, workers can benefit from integrated markets if their governments put in place market-based, growth-oriented policies and react positively to the challenges presented by the new environment. Even under the best policy scenario, however, international income inequality will change only gradually. This makes it even more imperative for governments to put in place welfare-enhancing policies. If they do not, the gap between their workers’ incomes and those of workers in high-performing economies will grow even wider.
