Globalization and wage inequalities: A synthesis of three theories |
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Authors: | Adrian Wood |
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Institution: | (1) Sociology Department, Colorado State University, Clark Building, Fort Collins, Colorado, USA |
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Abstract: | Globalization and Wage Inequalities: A Synthesis of Three Theories. — The theoretical insights of Heckscher and Ohlin, Feenstra
and Hanson, and Tang and Wood provide a plausible explanation of the effects of globalization on wage inequalities in developed
and developing countries. In combination, these three theories can explain, among other things, why inequality has fallen
in some developing countries but risen in others. Improved travel and communications facilities raise the relative wages of
highly skilled Northern workers, but in both the North and the South have mixed effects on wage gaps between medium-skilled
and unskilled workers, sometimes reinforcing and sometimes offsetting the effects of falling barriers to trade. |
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Keywords: | F16 |
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