The paper describes the main featues of the labor market and the social safety net in Korea, analyzes the causes and macroeconomic consequences of the dual labor market, and discusses the government's reform proposals.

In this paper we analyze the impact of product market competition and ownership structure on corporate performance. We focus on the firms listed on the Warsaw Stock Exchange, which are either privatised or newly created firms. First, we study the separate effects of competition and ownership...

Many developing countries have suffered under the personal rule of “kleptocrats”, who implement highly inefficient economic policies, expropriate the wealth of their citizens, and use the proceeds for their own glorification or consumption. We argue that the success of kleptocrats rests, in...

This paper proposes an explanation of the puzzling coexistence of elements of both inertia and dynamism in the Russian labor market. In an environment of high uncertainty, risk averse and heterogeneous workers face a trade-off between wages and insurance against risk. The firm proposes a...

Many observers have noted a strong tendency for protection, once it is instituted, to persist over time. This paper first shows that persistent protection arises whenever lobbying is an alternative to costly adjustment. With endogenous protection, the level of tariffs is an increasing function...

Despite the fact that nonprofit organizations play a large role in the production and distribution of goods and services in modern economies, and the rising role of non-governmental organizations in carrying out projects in developing countries, our knowledge of their governance, and of its’...