The Latin American countries have implemented policy reforms since the mid 1980s, shifting away from state-led inward-looking development policies to export-oriented growth model. It was argued that the region's labor problems would be resolved by eliminating distortions of the factor and goods markets. Contrary to this expectation, however, many researchers assess rather negatively the impact of the policy reforms on labor, and point out that the income gap between skilled and unskilled workers has widened.
This paper analyzes the recent trend in the Mexican labor market, placing focus on the female labor. In difference from the case of male workers, the wage gap between skilled and unskilled female wage earners has not widened, although the average income of female employers, a tiny part of the labor force, has substantially increased while the earnings of other types of workers have rather stagnated or decreased, thus widening the income gap between these two groups.
In view of the policy objectives of Mexico, that is, alleviation of poverty and inequality, it would be necessary to strengthen the educational and training policies, to expand part-time employment opportunities for female workers, and to implement supportive measures for women, especially those in the low income strata who have to bear house keeping and child rearing responsibilities by themselves, so that they have greater access to income generating activities.
The purpose of the article is to analyze the gap between the model and the reality in the ‘Judicial Reform’ recently featured in legal assistance programs led by the World Bank and other international institutions. The emphasis is on the question whether such ‘Judicial Reform’ can actually enhance the law implementation, either by way of Criminal Approach (law enforcements via penal procedures), Administrative Approach (those via administrative laws), or Civil Approach (those via civil litigations).
The basic model of ‘Judicial Reform’ provided in the manuals of World Bank is found largely influenced by the common law judicial system. Among all they feature the judicial role of watching over the government ‘Judicial review,’ and accordingly put special emphasis on the independence of judicial administration from the government. However, in actuality, not a few recipient countries are under traditional civil law influence, and such a role of watchdog is often carried out by a specialized ‘administrative court’ rather than the judicial court. When assessed in the view of Administrative Approach, the lesson is that a ‘Judicial Reform’ centering only on the judicial independence cannot directly reach the end of improved law enforcement.
Another aspect of the ‘Judicial Reform’ model is its less concern over the enhancement of the quality of law application techniques by judges. As it is tainted by the American Unitarian system of judge nomination among experienced lawyers, it pays less attention to the quality of judicial training programs than that in the career-up system of traditional civil law judicial nomination. Rather, the model tend to promote alternative dispute resolutions (ADR) than the improvement of traditional litigation. ADR may respond to the concern of international investors for quick and flexible dispute resolutions, but might end up with either the avoidance of local judicial process or otherwise the loosened law application by the judiciary, which might go against the need of enhanced law implementation via Civil Approach and/or Criminal Approach.
In order to fill the gaps between model and reality of ‘Judicial Reform’, a continuous support from Japan would be very much important, especially making most of its unique experience since WWII to have implanted the common law-style judicial system within its basic civil law basis.
The purpose of this paper is to analyze what elements are necessary for a rapid recovery from a financial crisis, and then, for sustainable development under global financial integration. There are two main findings. First, more careful removal of control on (short-term) capital flow and prudential management of capital movement are significant policy choice in avoiding huge financial vulnerability. Secondly, a relaxation of fiscal policy stance in the post-crisis period appears to be important for less deeper recession. However, the regression analysis does not show the effectiveness of monetary policy, in a recovery process, partly because the positive effect of the policy, which contributes to the recovery of market confidence through exchange rate stability, is offset by the negative impact of a high interest rate on investment. This implies that crisis countries are required to shift toward expansionary policy stance in more appropriate timing for a quicker recovery, as the Asian experience shows.
Labor productivity of migrants to urban areas are higher than in rural. This makes it seem urban labor market to affects the productivity of migrants. Using large scale labor survey from Thailand over the period 1994-96, I examined the reason for the productivity difference with regard to learning effects that arise from experience in urban labor market.
A certain portion of the productivity difference is attributable to knowledge spillover from neighboring workers. Moreover, individual educational attainment is found to accelerate the magnitude of the spillover effect. Nevertheless, the contribution of the spillover effects becomes ignorable in magnitude when block fixed effect of the urban labor market is controlled. This implies that learning employment opportunities are more important in explaining the learning effects of urban labor market, rather than knowledge spillover.
In addition, self-selection bias due to migration decision to urban areas is slightly negative against the earnings of migrants, despite the higher level of human capital of migrants among the origin. This is partly due the return to human capital of migrants is less than in rural, because the migrants are if the process of job matching in the urban labor market.
In this paper, we picked up Malaysia as a representative of developing countries that aim to achieve the two prongs of “poverty reduction” and “equity” simultaneously to analyze the relationship between industrial clusters and internal migration. So far, many precedent studies about internal migration in Malaysia have only made a point on directions and scales of it and often neglected the dynamic effects of economic development and industrial transformation on it. In this paper we aimed to clarify the effects of industrial clusters on directions and scales of internal migration in the context of economic development and industrial transformation from 1970 to 2000.
In our analyses, it became clear that states gathering population from outside areas have changed from Selangor to other developed states as Penang and Johore and then the number of out-migrants from central- and northern-periphery areas became smaller because development of central-type clusters contributed to reduction of out-migration from these areas. On the other hands, eastern area which is still heavily dependent on traditional industries as agriculture, government services and agro- or resource-based industries could not attract the population and getting suffered from out-migration to other areas.
After the Asian currency crisis, the argument about the financial structure and financial markets among Asia countries was moving to the policy identification and formulation stages. The necessity for the local cooperation in a financial field spread as common recognition. Central banks and monetary authorities in the East Asia region set up strengthening bond market in the region following the first agreement of the bilateral swap arrangements in ASEAN plus 3, the Chiang Mai Initiative. This is a second comprehensive bond market program after Brady bond mainly for debt reduction in Latin America countries.
Asia countries expect bond markets to solve two mismatches (a period and currency) which were one of critical factor of financial turmoil in Asia. In order for the Asia bond market to function as markets, not only promotion of the primary bond market but also the secondary market bond to facilitate efficient price formation, timely financing.
The investors, especially institutional investors will play important role for formulation of the bond market. Japanese investor is the second biggest bond investor and the biggest in the region. But their investment to the regional bond market was limited. We outlined their heavily relied on domestic bonds' portfolios compared with other developing countries and also presented the factor of conservative investment stance for risk assets. For instance, regarding investment to the foreign bonds, Japanese institutional investors choused the bonds more than AA grade although they investment lower domestic bonds. We explained their risk evasion by five factors such as a conservative investment guideline, government control, and lack of professionals.
After bankruptcy of some Japanese big companies in 2001, risk management consciousness is uprising in investment communities. They could contribute to the current bond market program if they change their conservative stance.