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Introduction
The massive European immigration to Argentina in 1880-1920, was an incentive to attract further emigrants. But the failure of the government colonization scheme from Ireland in 1889 put to an end other official initiatives and most of the emigrants during this time came from urban areas or from cities in England or the British Empire. Most of these emigrants were professionals, technicians, or administrative employees hired by the railway companies, banks, or meat-packing plants, and several were from families with a church of the Ireland background. The people rapidly integrated into the Anglo- argentine community, following their social and economic patterns while some actively worked to support Irish nationalism. (Rouquie, 1998)
Essay Body
There was the trend to move from the camp to the cities which were led by the wealthiest families, thus imitating the residence patterns. The majority of the children born could speak English and Spanish and most of the social activities were shared with the Irish or the British relations which included horseracing and rugby- football, cricket, and hurling which were the popular athletic activities for men and lawn for the women.
After the years of the First World War, there was a new peak of emigration from Ireland to Argentina, particularly in the period during and after the Anglo- Irish war of (1919-21) and the Irish civil war of (1922-23). The financial crisis, conflicts, and the political and social catastrophe in Europe and later in Latin America were serious barriers to emigration.
This Irish nationalism in Argentina was a hindrance to the new immigrants who did not want to be identified with the chaos and the turmoil in Ireland but had the notion of the British organization and the working habits. A social problem arose between the Irish in Argentina and the Irish in Ireland which gradually weakened the links among the members of the same communities and even same families in both sides of the Atlantic and also in other countries if the region British commercial and the investment predominance were gradually occupied by US companies and the diplomacy.
By the 1920s most of the families with Irish surnames in Latin America were considered. The society and the state-building including the diplomatic, religious, and trade links from the 1930s to date. The first diplomatic envoy of Ireland to Latin America was Buenos, who began working and after his participation in the Easter rising and further banishment from the British Isles and the establishment of the formal diplomatic relations with Latin America had to wait until the end of the second world war where the Irish diplomatic missions were established in Brazil and the Mexico and later other countries came in. (Birdsall, 2001)
The most recurrent goals of the Irish trade mission in Latin America were to foster mutual economic links but Ireland is still a completely insignificant market in Latin America. The Irish exports have been increasing over 60% but only 1% was from Ireland’s total exports. There is the travel and education which were other aspects of exchange with a steady flow of children going to schools to study English and also foreign languages and the genealogical travel has been exploited by the Argentine and the Irish travel agents.
Most of the Irish representatives in Latin America have been the religious missionaries circulated through the churches who had an impact on the Catholic Church in Ireland as they sought to promote the new model of the post-second Vatican social church frequently associated with Latin America. Most of the people in these areas were unable to speak English as their mother tongue and also to keep the traditions brought from Ireland by their ancestors and intermarriage was allowed to most of the families to assert their local Latin American identities.
There was a petition which accompanied the press campaign targeting the Irish politicians and the policymakers to obtain a favorable response from the Irish government and the links which were lost between Ireland and Latin America can be reshaped to accommodate the actual needs of the people.
In Latin America the 1980s were known as the lost decade because the growth per capita was negative, unemployment reached unprecedented levels and the inflation was remarkably stubborn. The reasons for this poor performance were due to there were vast overvalued real exchange rates; very large fiscal imbalances; and the increasing microeconomic regulations that resulted in large distortions and the sharp decline in productivity and also capital flows ended abruptly forcing the country in the region to go through the severe macroeconomic adjustment processes. (Hausman, 1998)
But towards the end of the 1980s, three important developments took place: first, after the years of military rule, democracy returned to most of the areas in the country. Second, a comprehensive program aimed at restructuring foreign debt was put in place, and third, a series of far-reaching market-oriented reforms were implemented in the country.
Although the aspects of these reforms including their timing and the depth varied across the countries, in most cases they shared some components including the opening up of international trade, the implementation of the anti-inflationary programs, the privatization of the state-owned enterprises, and the deregulation of the markets and in the 1990s Latin America began to reform the labor market which led to the relaxation of decades-old regulations and also increased the labor security and strengthened workers’ rights. The reformation of the labor markets and the sequencing of the economy has been a worry.
The effect of trade liberalization is different in countries with a completely unregulated labor market and labor market policy interventions. This is due to the fact that a labor-abundant country with an economy-wide minimum wage and sector-specific capital will have a trade reform that reduces import tariffs and lead to unemployment. But if the minimum wage is removed first, unemployment does not occur so a country should ensure that it first removes the minimum- wage before implementing the labor market, and through this, the labor will be moved from the formerly protected areas towards the labor-intensive export area.
There are two types of labor market reforms; the labor reform that reduces legal protection to workers and the labor reform that increases labor protection to workers and many labor market reforms took place during the periods of negative economic growth where the workers rights took place in the period following the return to democracy. (Evans, 1995)
Due to the fact that reforms tend to be dynamic and evolving and not discreet events this labor market reform may lead to a fundamental problem which is that to investigate sequencing issues then one should be careful in dating the other reforms in the field of the trade so there is need to have a more careful analysis on the timing of the different reforms not to conflict and give the wrong information.
The labor costs in Latin America are higher than in other countries due to the fact that the costs of job security are high. The social security reform benefits that create individual retirement accounts increase the connection between the contributions in that country. In a system based on the individual accounts employees would consider the contributions to their accounts to be a different form of compensation and in the case of the labor market effect of social security contribution would be significantly different than in the pay–as–you–go social security regimes where there is almost no connection between the contributions and the benefits.
The effects of the labor regulations on the labor market can be based on the employment levels and the employment flows. The former effect is related to the static costs, while the latter relates to the dynamic or the transition costs. The approaches used to address these issues are: first, the labor demand equations week estimated to evaluate the effects of regulations on the employment levels to the extent that regulations increase the cost of labor, and then there will be a movement along the demand curve and therefore a reduction in employment and this static demand schedules used in several countries there is an effort made to incorporate these adjustment issues.
In this approach of the demand static, there are two parameters of interest in the estimation of this type of equation been applied by such a country and they are the own elasticity of labor demand with respect to labor costs and the speed of the adjustment of the labor market to disturbances and this speed of adjustment measure the degree of the fluidity of the labor market and is assumed to depend on the extent of job security regulations.
The constant- output own wage labor demand elasticities are significantly negative and the estimated values of the elasticities range for the workers and as the labor market regulation increase the labor cost has a negative impact on the level of employment. Indicating that a labor market reform that reduces labor costs by 10% will result in an increase in employment of 2.8 %. ( Londono, 1997)
In Latin America, the labor market has been slow compared to other advanced countries. But from a theoretical point of view, the effects of the job security legislation on the level of employment are ambiguous and this is because the type of legislation has two offsetting effects which include: the hiring is discouraged and also firings tend to decline.
The job security legislation affects the composition of employment, reducing employment in the formal sector but increasing employment in the informal sector, and therefore this legislation is beneficial to some sectors, unlike others. The challenges of this type of analysis are: it defines the control group of the workers that are not subject to the change in regulation; it is not easy to deal with as the job security regulations tend to reduce the labor turnover and the degree of the flexibility of the labor markets.
The higher social security contributions have resulted in a reduction in the level of employment and an increase in the rate of unemployment as the seniority separation pay hash ad a positive effect on the employees while the severance payments have had a negative effect on the employment the variables measuring the costs of the regulations have positive coefficients in the unemployment equation in the Latin America the coefficients are estimated in an imprecise way and are therefore insignificant and the most important results are that if the costs of regulation are combined into a single indicator then the coefficient is significantly negative in the employment equation and significantly positive in the unemployment regression.
The second approach is the turnover rates computed to understand whether the regulations affected the fluidity and the dynamic of the labor regulations. The minimum wages in the market-oriented reforms have resulted in the worsening of the social condition in the Latin America the high minimum wages helps to reduce poverty and contribute to the improvement of the social conditions in the area but there is a lack of persuasive empirical evidence on the effects of the minimum wages in most of the market areas in the area. (Londono, 1997)
But there is the finding that the minimum wage legislation appears to have been binding in all countries and have had a particularly important effect on the labor market and evidence that the minimum wage serves as a benchmark for all sectors of the economy including the legally bound and the illegally unbound meaning that the dual labor market models assume wage flexibility in the informal sector may not be relevant for the case of Latin America.
The high minimum wage affects the wage distribution in the neighborhood of the minimum wage itself resulting in higher wages both for those earning less than the minimum and for those workers earning more than the minimum but for the case of the advanced nations, the changes in the minimum wages affect a much smaller segment of the wage distribution meaning that increase in minimum wages have a negative effect on the probability of the employment of those workers with lower skills and among the women as compared to men who have high skills as compared to women in several fields like in the field of manufacturing it is not easy for women to work in some industries like the metal companies, therefore, the men gets the advantage of working in such areas without much competition as the work for women is limited in such areas.
In Latin America, it is seen that there are regulations that increase the cost of labor thus reducing employment this has the implication that if labor costs are high then it becomes hard to employ more people as it becomes a problem it curbs the expenses of the already existing workers. ( Hausman, 1998)
Therefore a company will see it better to reduce the employees and increase the workload of the remaining workers in order to have gains from the product and the regulations increase the job security and tend to reduce the labor market fluidity and slow the labor market adjustment process. This happens in the cases where the sectors require high security for the workers therefore in order to achieve high security then they have to make the regulations more severe for everyone willing to offer labor but still with this to make a change to the labor market is not easy.
There is the free trade agreement which leads to the agreements in the labor market and in the analyzing how to incorporate the side agreements affect the labor outcomes helping in the understanding of the true costs and the benefits of these free trade dealings and also in the analysis of other labor regulations such as those affecting the child labor would be very useful for having a better idea on the way in which increase in globalization is likely to affect the emerging markets in general. In the globalized world, there is the need to understand how the changes in the output from the international terms of the trade or from the labor regulations affect the labor market outcomes. (Evans, 1995)
There is the construction of the indexes that measure the costs associated with different labor market regulations, including the social security contributions, severance payments, advanced notice, and seniority pay. Investment has played an important role in the growth of this country and the main source of investment has been the national saving and foreign saving that has played a secondary role.
This growth is measured by the probabilities derived from the leads and the lags in the investment, the national saving and the foreign saving in terms of growth transitions and the leads and lags in the national and foreign saving in terms of investment and the leads and lags in the foreign savings in terms of the national saving. The growth rate per capita income is determined by the rate of technological change and there are three types of transitions: the acceleration which is the series displayed as persistently increasing; the decoration which is the series in a decreasing pattern and the period of the mixed trends which is the stable episodes.
There are two sets of measured probabilities generated using the database on the growth transition and the first set measures the probabilities that the investment, national savings, and the foreign savings rates lead or lag per capita GDP growth and the second is the estimate of the probability of the common growth transition and they help to measure the acceleration of the investment or the deceleration or even the stable transition. ( Birdsall,2001) The saving and the investment rates play a major role in the determination of the long-run growth and that the high- and the low- savings and investment an economy experiencing the same extent of the technological progress does not differ in the long- run per capita growth rates.
The growth and the investment in Latin America have been common in that they match with the transition at the aggregate regional level and the national saving, foreign saving has mainly been country-specific. The national savings has moved more independently across countries during the periods of deceleration in the national saving rates. The investment in the growth transition is influential as it is a vehicle for the creation of productive capacities, knowledge spillovers, and new technologies and the reformation process can also trigger the short-term productivity gains that lead to faster initial growth in the economies that are high and distorted levels.
Although growth needs to be sustained by higher investment rates, an initial impulse from investment is not required in order for growth to accelerate as they can proceed by the falling or the stable investment rates, and not all investment accelerations are accompanied by growth as there can be a deceleration in growth but the investment is rising. The aggregate income growth would follow from an increase in lifetime profiles where the young are consuming and saving more, unlike the deserving old people.
Therefore the young are getting more income than the old which leads to them saving more. Thus a higher growth generates a higher income which leads to higher savings. But growth can be consumption-oriented in that if growth is accelerating the savings and income are decelerating. (Alesina, 1993)
Conclusion
Latin America has been progressing since the 1930s even though it faced challenges but it is clear that its growth has been experienced in all areas with the reforms been made in the labor markets, which led to the changes in the investments where foreigners invested leading to the expansion of the country’s economy and also with national savings from its own people, consumption been high as savings been high then it means that the income is also high. With the high labor security then output is meant to be high as much will be produced due to the labor costs been low. Therefore the labor market adjustments lead to more production in Latin America.
Reference
Alesina, A., and Roberto. P. (1993): Income distribution, political instability and investment. Working paper 4486 Cambridge, M.A: National Bureau of economic Research.
Birdsall, Nancy and Augusto de la Torre with Rachel Menezes. (2001). Washington contentious: economic policies for social equity in Latin America. Washington, D.C: Carnegie endowment for international peace and the Anti-American Dialogue.
Evans, P. (1995): Embedded Autonomy: states and industrial transformation. Princeton, N. J: Princeton university press.
Hausman, R. and Gavin, A. (1998): Growth with Equity, the volatility connection. In Beyond tradeoffs: market reforms and the equitable growth in Latin America, eds; Nancy Birdsall, Carol Graham, and Richard Sabot, Washington, D.C: Brookings institution press and inter- American Development Bank.
Londono, J.L. and Szekely, M. (1997): Distributional surprises after a decade of reforms: Latin America in the nineties. In the Latin America after a decade of reforms: what comes next? Eds. R. Hausman and E. Lora. Washington, D.C: Inter- American Development Bank.
Rouquie, A. and Suffern, S. (1998): The military in Latin American politics since 1930. In Leslie Bethel, Ed, the Cambridge history of Latin America. Cambridge: Cambridge university press.
Williamson, J. (1990): What Washington means by policy reform, in John Williamson, Ed, Latin American Adjustment: how much has happened? Washington, D.C: institute for international economics.
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