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The analysis in this report confirms the findings of previous studies that trade liberalization improves aggregate welfare and is in the long run associated with higher employment and wages. The analysis addresses a major gap in the literature, which has heretofore provided limited evidence about the trade-related adjustment costs faced by workers in developing countries and how they are affected by mobility costs. Labor market frictions reduce the potential gains from trade reform. For a tariff reduction in a given sector, the resulting change in relative prices raises real wages in some sect

Business cycles -- Developing countries. --- Developing countries -- Commerce. --- Labor market -- Developing countries. --- Labor mobility -- Developing countries. --- Wages -- Developing countries. --- Labor market --- Labor mobility --- Wages --- Business cycles --- Business & Economics --- Labor & Workers' Economics --- Developing countries --- Commerce. --- Compensation --- Departmental salaries --- Earnings --- Pay --- Remuneration --- Salaries --- Wage-fund --- Wage rates --- Working class --- Mobility, Labor --- Employees --- Market, Labor --- Supply and demand for labor --- Economic cycles --- Economic fluctuations --- Supply and demand --- Income --- Labor costs --- Compensation management --- Cost and standard of living --- Prices --- Migration, Internal --- Labor supply --- Labor turnover --- Markets --- Cycles