Instituciones, mercado de trabajo y globalización
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Abstract
The asymmetry of the globalization process concerning the levels of economic reality on which it has an influence, as well as the exclusion of broad areas from such process, may be the result of adopting policies that seem to be universally valid and unerring to foster economic growth. By means of this paper, our aim is to show how such policies may be creating macroeconomic and investment instability and how they sacrifice the creation of employment for the sake of fiscal and monetary equilibrium. Within the microeconomic scope, the confidence in labour adjustment and deregulation may be slowing down the necessary productivity growth for generating proper employment. As a result, the adoption of local strategies and the adjustment of policies to concrete institutional environments may be used as the basis of a fairer and more sustainable globalization process, which should help generate more and better jobs and reduce poverty.
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