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This paper examines major forces that have decoupled economic and business prosperity from social prosperity and explores how recoupling can be promoted. Economists have specified well-known conditions under which free market enterprise with shareholder value maximization is efficient. These...
Persistent link: https://www.econbiz.de/10012583534
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10003831857
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...
Persistent link: https://www.econbiz.de/10003816538
induces empirically observed declines in fertility rates throughout the world. …
Persistent link: https://www.econbiz.de/10011925357
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012178659
pillars of the model: sectoral collective bargaining and firm-level codetermination. Relative to the United States, Germany … unemployment, but may also erode bargaining coverage and increase inequality. Meanwhile, firm-level codetermination through worker …
Persistent link: https://www.econbiz.de/10013346954
Across Europe, there are many differing opinions on whether workplace employee representation should be encouraged or discouraged. Yet there is very little evidence on the variations in workplace employee representation across Europe or the reasons for this. We use a workplace survey covering 27...
Persistent link: https://www.econbiz.de/10011480767
We estimate the effects of worker voice on job quality and separations. We leverage the 1991 introduction of worker representation on boards of Finnish firms with at least 150 employees. In contrast to exit-voice theory, our difference-in-differences design reveals no effects on voluntary job...
Persistent link: https://www.econbiz.de/10012484549
We join the scholarly conversation on the implications of the different configurations of firms' stakeholder coalitions for their employment practices, by investigating how the structural arrangements granting employees a role in firm boards of directors (employee governance representation, EGR)...
Persistent link: https://www.econbiz.de/10015064437
Despite its lack of attractiveness to other countries, the German system of quasi-parity codetermination at company … level has held up remarkably well. We recount the theoretical arguments for and against codetermination and survey the … globalization and the availability of alternative forms of corporate governance in the EU. -- Codetermination ; board-level employee …
Persistent link: https://www.econbiz.de/10003793899