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Nhan đề: Globalization, wages and skill premia in a transition economy : new evidence from Vietnam
Tác giả: Diep, Phan
Coxhead, Ian
Từ khoá: Globalization
Skill premia
Transition economy
Viet Nam
Tùng thư/Số báo cáo: For presentation at a conference on Globalization: Strategies and Effects, Aarhus University, 9-12 November 2011;
Tóm tắt: We ask what has happened to wages and skill premia during Vietnam’s globalization and transition from command to mixed economy. Over two decades of reform, wages rose in real terms and the skill premium also increased. We find, however, that neither trend has been linear, nor even monotonic, over the entire transition period. In particular, while average real wages increased between 1993 and 2008, most of this increase took place during the 1990s. Skill premia likewise rose during the 1990s but 34 leveled off in the 2000s. -- In a small transitional economy like Vietnam, non-farm wages have been subject to significant influences both from increased exposureto global markets and from domestic policy reforms – notably the relaxation of state-sector labor marketregulations. To identify the contribution of each policy shift to changes in wages and skill premia in different phases of the economic reform process, we examine and compare skill premium trends in state and non-statesectors, and in traded and non-traded industries. We fit the wage data to a very general model allowing for differential rates of return by institution and trade orientation. The results provide a richer understanding of overall wage trends, and provide a startingpoint for distinguishing between increases in returns to skills due to economic dynamics versus those arising from one-time transitional adjustment. They also indicate that overall rates of return to skills in Vietnam aremuch lower those obtained by previous studies using more aggregative models and less recent data.
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Appears in Collections:Economic development

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