The basic aim of the program was to have a better understanding of the effects of globalization of wages and employment structures. Both theoretical and empirical methods were combined in the program for the analysis of the impact of globalization of labour markets and the how does globalization affect the behavioural patterns of workers like in aspects of human capital investment and migration f workers.
Positive effects of globalization on labour markets:
Globalization of labour markets can provide benefits in many forms such as the creation of new work and production opportunities by the developing countries due to their increased capacity because of globalised labour market. It will help in decrement of price distortions in terms of both the labourers and the capital. It will help in cooperation and exchange of ideas between labours all over the world that will help in better outcomes on various issues. Globalization of labour market will help in adoption of advanced technology, direct and indirect creation of employment all over the world and especially in the recipient countries. It will also attract huge investments by the developed countries and even in the increment of the ability of the country to be able to adopt imported technology according to its needs. It will help in the reduction of poverty at global level especially in developing countries by increasing the opportunities of employment and higher wage rates for workers from all round the world that in turn will also help in bringing home the advancement in various fields such as local science ability, educational level of workers and even the younger generation, training of workers and adoption of advanced technology (Elliott, 2003). It even helps in increasing the financial stability of the country as more foreign reserves are brought in home country that even increases the foreign reserves of the country.