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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/2596
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| Title: | | The positive economics of labor market rigidities and investor protection  |
| Authors: | | Fehn, Rainer Meier, Carsten-Patrick |
| Issue Date: | | 2001 |
| Series/Report no.: | | CESifo working paper series 456 |
| Abstract: | | This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on both markets. The more important money is in political decision-making, the more devided the workface is, and the more globalized capital markets are, the more likely is a capitalist politicoeconomic equilibrium with little employment and substantial investor protection. Our prediction of a negative cross-country relationship between labor market rigidities and of competition on capital markets receives considerable empicical support. |
| Subjects: | | labor markets employment protection corporatism corporate governance shareholder protection political economy |
| JEL: | | G34 K22 K42 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online CESifo Working Papers, CESifo Group Munich
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