|
Archive@NYU >
Stern School of Business >
Stern School Faculty Pages >
Peter Henry's Collection >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/31604
|
| Title: | Capital Market Integration and Wages |
| Authors: | Chari, Anusha
Henry, Peter Blair
Sasson, Diego |
| Issue Date: | Apr-2012 |
| Publisher: | American Economic Journal: Macroeconomics |
| Abstract: | For three years after the typical emerging economy opens its stock
market to inflows of foreign capital, the average annual growth rate of
the real wage in the manufacturing sector increases by a factor of
three. No such increase occurs in a control group of countries that do
not liberalize. The temporary increase in wage growth drives up the
level of the average worker's annual compensation by US $487—an
increase equal to nearly one-fifth of their annual pre-liberalization
salary. Overall, the results suggest that trade in capital may have a
larger impact on wages than trade in goods. (JEL E25, E44, F16, F43,
G18, O16) |
| URI: | http://hdl.handle.net/2451/31604 |
| Appears in Collections: | Peter Henry's Collection
|
Items in Faculty Digital Archive are protected by copyright, with all rights reserved, unless otherwise indicated.
|
