SNB: rich nation imports deskill developing economies
A Swiss National Bank paper published on Wednesday says trade with rich countries reduces the incentives to invest in human capital in less developed countries.
There is agreement among economists and policymakers that import competition from low wage countries causes a decline in the relative wage of unskilled workers in rich nations. Raphael Auer, the author of this paper, looks at the flipside of this argument, namely that trade with richer nations tends to depress the relative wage of
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