'This book documents the impacts of the financial crisis on workers in the developing world, far from Wall Street but affected by it in an increasingly integrated global economy. Analyzing the latest data available, Working through the Crisis details for the first time how the crisis and the Great Recession that followed it drove up unemployment and drove down wages in low- and middle-income nations around the world. It carefully shows how developing countries responded through different policies to try to mitigate these negative consequences and, with a wealth of evidence, assesses what worked and what did not. This study not only documents what happened; it also will help policy makers when the next economic shock reverberates in labor markets around the world.' --Gordon Betcherman, University of Ottawa, and coeditor, East Asian Labor Markets and the Economic Crisis: Impacts, Responses, and Lessons
'This study provides a wealth of information on changes in employment and earnings overall and for specific groups in numerous developing countries. It offers an insightful discussion of policies put into effect in various places. The volume concludes with in-depth chapters on Indonesia, China, and Mexico. The book is a valuable and timely resource on changing labor market conditions and policy responses in the developing world.' --Gary S. Fields, Cornell University, and author of Working Hard, Working Poor
About the Author
Pierella Paci is Professor of Economics at City University, London.