Reform and Employment

The reform measures initiated in the 1990s generated intense debate, in particular on its likely impact on employment and poverty. There is no consensus among the scholars about the outcome of reforms. Some believe that reforms would have positive impact on the poor in the medium and long run through acceleration of investment, output and employment, though, in the short run it might have adverse impact on the poor due to stabilisation measures. But there are others who contest this view and argue that economic reforms would have adverse impact on the poor in the short as well as in the long run. Some of the early studies had, in fact, predicted a decline in the employment opportunities. But then, others refuted this hypothesis. Yet some others argue that the market-based economy leads to weak links between economic growth and poverty reduction, and economic growth and employment growth. The debate continues. A decade has elapsed since the reform process was initiated and the time period is adequate to make some realistic assessment. The present volume has been based on some scholarly contributions to the debate, which provide new insights and is expected to stimulate further research in the area.