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Direct Democracy and Labour Standards of a Small Open Economy

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Authors
Hwang, Uk
Issue Date
2006-10
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.19 No.4, pp. 405-438
Keywords
Median voter theoremEndogenous labour standardGlobalization
Abstract
This paper investigates the controversial relationship between

labour standards and globalisation within a 2×2 Heckscher-

Ohlin-Mayer political-economy trade model. We adopt the median

voter model to characterise the labour standards chosen under

majority voting. We found that labour standards are more lax in

economies with large income inequalities. More importantly, we

also show that globalisation may or may not promote stricter

labour standards depending on the factor abundance of each

country. Thus, a race to the bottom is not an necessary

implication of globalisation.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/1361
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.19(4) (Winter 2006)
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