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A more productive labor force is essential for sustained growth in Latin America. How do existing labor market regulations affect the region's economic liberalization process? And what is needed to make labor markets function better? "Reforming the Labor Market in a Liberalized Economy" examines policies and regulations that balance the needs of capital and labor. It points to the strong need for regulatory and institutional reforms to maximize the efficiency and production of Latin America's labor market. Specifically, countries must define what should be covered by legal regulations and what should be left to negotiation between management and labor; produce a transparent atmosphere that depoliticizes contract disputes and negotiations; and strengthen institutions responsible for labor policies. The book describes the legal framework as well as the customs and procedures that regulate labor relations in four Latin American countries; Brazil, Chile, Uruguay and Venezuela.