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Foreign Capital Inflow, Skilled-Unskilled Wage Gap, and Welfare in the Presence of the Informal Sector
2004
Pakistan Development Review
This paper attempts to analyse the impact of trade liberalisation on the skilledunskilled wage gap and the level of welfare of developing countries, which are generally characterised by large "informal" labour markets. A neo-classical full-employment foursector model has been developed, where the informal sector produces either a final product or an intermediate product on subcontracting basis. Evidence shows that in either case, trade liberalisation, in the form of an increase in foreign
doi:10.30541/v43i2pp.125-147
fatcat:ddn2fxxct5f35igp6dmakxmt7q