The centralised wage agreements have helped to contain inflation. There is evidence that wage increases were more moderate when a central agreement was concluded than in periods when no central agreement was reached. Nevertheless, there is also evidence that centralised wage setting has had some...

Industrial specialization has important implications for economic performance; therefore, understanding its determinants is of key policy relevance. This paper quantifies the relationship between factor endowments, policies and institutions and patterns of industrial specialisation in production...