Conclusions

Labour institutions have been the subject of an intense economic-policy debate —one characterized by a high ideological content that, particularly from the 1990s, gave rise to strong positions in favour of a series of reforms aimed at making labour markets as deregulated and flexible as possible. However, amidst low growth and uneven productivity in Latin American and Caribbean economies, the reforms did not have the expected impact on labour markets. Disappointment over the broken promises of flexibility reforms has intensified questioning about the efficiency of relatively unregulated labour markets and has resulted in proposals on labour-market regulation that have become rather more cautious in recent years (Freeman, 2005).

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions