Constraints to growth and job creation in low-income commonwealth &lt;br&gt;of independent states countries
By: Paolo Verme
Contributors: World Bank
Series: Policy research working paper -- 3893; Policy research working papers (Online) -- 3893.
Publisher: World Bank
Published: 2006
Place of publication: Washington, D.C
Language: eng
Format: [electronic resource] /
Subjects: Unemployment
Description: "Despite sustained output growth since 1997, low-income Commonwealth of Independent States (CIS) countries (CIS-7) have not experienced growth in employment, a phenomenon observed elsewhere in transitional economies and labeled as "jobless growth." The author addresses the causes of this phenomenon in the CIS-7.  He argues that the lack of job creation is explained by a combination of structural factors, including capital-intensive growth, large potential for productivity gains among existing workers, and compartmentalized economies best depicted by a dual labor market framework.  Agriculture and industry have performed asymmetrically and grown apart during the recession and during the growth periods.  Agriculture provides subsistence and refuge from urban poverty and unemployment but is unable to grow beyond subsistence because it is disconnected from industrial manufacturing and because the agricultural infrastructure is depleted and underinvested.  Industry has progressively lost its manufacturing capacity, and focuses on capital-intensive, highly productive sectors, and provides good wages for the few highly skilled workers.  With governments and the international community currently refraining from investing in agricultural and industrial policies focused on reviving manufacturing, jobless growth is likely to persist. "--World Bank web site.
Notes: Title from PDF file as viewed on 4/19/2006.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.