Educational Attainment, Labor Market Institutions and the Structure of Production
52 Pages Posted: 6 Dec 2001
Date Written: November 2001
Abstract
A key feature of OECD economic growth since the early 1970s has been the secular decline in manufacturing's share of GDP and the secular rise of service sectors. This Paper examines the role played by relative prices, technology, factor endowments and labor market institutions in the process of "de-industrialization." We find a statistically significant and quantitatively important effect of levels of educational attainment. Furthermore, the production structure responds differently to the educational attainment of men and women. Finally, countries with stronger levels of employment protection are shown to adjust more slowly to changes in prices, technology and factor endowments.
Keywords: De-industrialization, educational attainment, factor endowments, labor market institutions, specialization
JEL Classification: F00, J00, O00
Suggested Citation: Suggested Citation
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