Tito Boeri OECD' 2 rue AndrC Pascal , 75775 Paris CEDEX 16 France TEL(331) 45 24 92 62 1 Introduction . Conventional wisdom does not seem to offer many clues to the factors lying behind the dynamics of unemployment in Central and Eastern Europe. Especially at the early stages of transition, unemployment was considered to be an indicator of the extent to which the restructuring process was under way. However, while the Czech Republic is still enjoying low unemployment rates even three years after having decidedly started economic reforms, Romania has gradually built up a large stock of unemployed, having barely initiated the privatization of large and medium-sized fms. Unemploymcnt growth in these countries was also deemed to rely ultimately on the scale of output falls and associated labour shedding in state enterprises. Bulgaria is still in the midst of a rapid fall in output and decline in employment, whilst Poland is experiencing a promising recovery period in which a halt has been put to the decline of public sector employment. Yet, in both countries, registered unemployment has slightly increased in 1993 after three years of rapid and almost unintenupted growth. The issue is that labour market adjustment
Economics of Transition and Institutional Change – Wiley
Published: Mar 1, 1994
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