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Labour Markets in Small Developing States

image of Labour Markets in Small Developing States
Recent studies of the economic growth and development process have emphasised the critical role of human development. For small developing countries the existence of limited natural resources means that emphasis must be placed on human resources development (HRD) in national development strategy formulation. Through education and training (and health and nutrition), HRD can overcome imbalances in the labour market.



This book explores the approaches to this challenge adopted by governments of smaller states across the world and considers the effectiveness of the particular strategies adopted. It also explores the role of labour migration, particularly the emigration of skilled labour, in this process.



The book will be of value to national economic planners, labour market economists, and all those who seek to ensure the successful development of the economies of the world’s smaller states.

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Labour Markets and Human Resource Development in the Caribbean

Recent studies of the economic growth and development process have emphasised the critical role of human capital in achieving high rates of output growth, reducing unemployment and poverty and enhancing social development (see World Bank, 2005). For small developing countries like those in the Caribbean, the existence of limited natural resources means that emphasis must be placed on human resources development (HRD) in national development strategy formulation. Human resources development refers to the enhancement of the skills, knowledge and competencies of the population so that the workforce can contribute meaningfully to the national development process. Through education and training (and health and nutrition), HRD can overcome imbalances in the labour market. Employers would be able to obtain the quality and quantity of labour resources they need, while individuals would be able to supply better quality labour resources, achieve higher levels of productivity and receive higher incomes. HRD initiatives must therefore be related to the dynamics of the labour market.

English

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