Chapter

Labor Market Regulation and Employment in the Caribbean

Andrew S. Downes, Nlandu Mamingi and Rose-marie Belle Antoine

in Law and Employment

Published by University of Chicago Press

Published in print October 2004 | ISBN: 9780226322827
Published online March 2013 | e-ISBN: 9780226322858 | DOI: http://dx.doi.org/10.7208/chicago/9780226322858.003.0011
Labor Market Regulation and Employment in the Caribbean

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The challenge for policymakers is to design a regulatory system that minimizes the additional labor (i.e., adjustment) costs to employers while protecting the socioeconomic welfare of workers in the labor market. By minimizing such labor costs, employers would be in a better position to hire more workers given other favorable economic conditions. This chapter outlines the institutional framework governing the operation of the labor market. The nonwage cost implications of this framework are then examined. An attempt is made to develop indexes of labor market regulation based on the various provisions in labor regulation and, to a lesser extent, in collective bargaining agreements. The incorporation of nonwage labor costs into the labor demand function is also examined. The statistical data used in the estimation process are examined, too, while the empirical results are also presented. The possible policy implications of the research are given in a closing section.

Keywords: labor market regulation; Caribbean; worker welfare; economic condition; collective bargaining; labor demand function

Chapter.  13623 words. 

Subjects: Company and Commercial Law

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