Minimum Wages, Collective Bargaining and Economic Development in Asia and Europe

By: Maarten Van Klaveren and Denis Gregory and Thorsten Schulten

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Synopsis: Minimum Wages, Collective Bargaining and Economic Development in Asia and Europe offers a labour perspective on wage-setting institutions, collective bargaining and economic development. Sixteen country chapters, eight on Asia and eight on Europe, focus in particular on the role and effectiveness of minimum wages in the context of national trends in income inequality, economic development, and social security. Two chapters on Asia and Europe compare and contrast national experiences and discuss the relevance of a redistributive wages policy for worldwide as well as national economic recovery. Demand or wage-led economic recovery is explored as an alternative to the export-led strategies currently pursued by leading Asian and European countries. In light of the slow pace of recovery from recession in Europe, the renewed recession in Japan and the weakening growth rates of major Asian countries, this book provides a timely reconsideration of the macroeconomic policy options. As such, it contributes to the wider debate over sustainable economic growth and income inequality.