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Journal Article
A cost-benefit approach to labor market reform
Labor reforms in Latin America have been scarce compared with the pace of structural reforms aimed at liberalizing product and capital markets. Some analysts contend that without continued liberalization labor market performance will fail to improve, hindering Latin American economies? ability to compete in international markets. ; This article assesses labor market regulations in Latin America, documents their recent history, and assesses their costs and benefits. The author argues that existing regulatory systems, while generating costs in terms of labor market performance, constitute the ...