Abstract
The dual objective of the institutional framework for labour is to contribute to the effective functioning of the labour market and to protect workers, taking into account the inequalities in this market’s mode of operation. Although these are common objectives, there is no single model of labour institutions that can meet them. Rather, labour institutions are the result of specific historical processes in each country. In addition, there is considerable controversy, from a theoretical viewpoint, about whether labour institutions reduce economic efficiency and social well-being, have no effect, or as Freeman (2009) asserts, strengthen them. The following sections review this debate, as well as the experiences of the region’s countries with respect to some labour institutions, describing their present features as well as the principal changes they have undergone in recent years and evaluating their effects on the functioning of the region’s labour markets.
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