A Comparative Study on Unemployment Hysteresis: Evidence from Various Asian Regions Using Panel Data
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The paper explores unemployment hysteresis in Asian countries. This paper collects annual unemployment data from various Asian countries over the period of 2003–2023, disaggregated by gender. Our empirical methodology includes trend analysis using graphical data representation and panel unit root tests with three groups: first-generation, second-generation, and variance ratio tests. Advanced unit root tests have ensured more reliable results. This paper shows that unemployment hysteresis is present in most Western and Central Asian countries, while it is largely absent in Eastern and Southern Asia. Policy implications are significant because they help identify the nature of unemployment in these countries and support the development of appropriate labor market policies.
Abstract
The paper explores unemployment hysteresis in Asian countries. This paper collects annual unemployment data from various Asian countries over the period of 2003–2023, disaggregated by gender. Our empirical methodology includes trend analysis using graphical data representation and panel unit root tests with three groups: first-generation, second-generation, and variance ratio tests. Advanced unit root tests have ensured more reliable results. This paper shows that unemployment hysteresis is present in most Western and Central Asian countries, while it is largely absent in Eastern and Southern Asia. Policy implications are significant because they help identify the nature of unemployment in these countries and support the development of appropriate labor market policies.