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Journal articles on the topic 'Economic growth; Income; Wages'
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1
Troncoso, Baltar. "Wage distribution in the period of economic growth with income distribution: The case of Brazil." Panoeconomicus 67, no. 3 (2020): 361–84. http://dx.doi.org/10.2298/pan2003361t.
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This paper analyses in detail the distribution of Brazilian wages in the period of economic growth with income distribution. Brazil presents a high structural heterogeneity that generates high wage inequality, and it is shown that wage differences within occupational categories are greater than wage differences between occupational categories. Higher GDP growth followed by an incomes policy that raised low wages reduced wage differences especially within occupational categories rather than wage differences between occupational categories.
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Humphries, Jane, and Jacob Weisdorf. "Unreal Wages? Real Income and Economic Growth in England, 1260–1850." Economic Journal 129, no. 623 (May 16, 2019): 2867–87. http://dx.doi.org/10.1093/ej/uez017.
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Abstract Estimates of historical workers’ annual incomes suffer from the fundamental problem that they are inferred from day wage rates without knowing how many days of work day-labourers undertook per year. We circumvent the problem by building an income series based on the payments made to workers employed by the year rather than by the day. Our data suggest that earlier annual income estimates based on day wages overestimate medieval labour incomes but underestimate labour incomes during the Industrial Revolution. Our revised estimates indicate that modern economic growth began more than two centuries earlier than commonly thought and was driven by an ‘Industrious Revolution’. They also suggest that the current global downturn in labour's share is not exceptional but fits within the range of historical fluctuations.
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Arestis, Philips, Jesús Ferreiro, and Carmen Gómez. "Labour market flexibilization and income distribution in Europe." Panoeconomicus 68, no. 2 (2021): 167–85. http://dx.doi.org/10.2298/pan2102167a.
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This paper analyses the role played by the flexibilization of labour markets on functional income distribution. Specifically, we analyse whether employment protection legislation affects the evolution of labour income share, measured by the size of compensation of employees as a percentage of GDP, the sum of wages and salaries as a percentage of GDP and the size of the adjusted wage share, in twenty European economies. Our study?s results show that the evolution of labour income share is explained by the economic growth, the growth of employment and unemployment rates, and the growth of real wages. Regarding the role played by the flexibility of the labour market, and specifically of the employment protection legislation, only employment protection for temporary workers has a significant impact on the evolution of labour shares. Our results show that stricter provisions on the use of fixed-term and temporary agency contracts have a positive impact on the growth of labour shares.
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Syahputra, Angga, Erfit Erfit, and Nurhayani Nurhayani. "Analisis pengaruh pertumbuhan ekonomi, pengeluaran pemerintah, upah minimum dan tingkat pendidikan terhadap tingkat pengangguran terbuka Provinsi-Provinsi di Sumatera." e-Jurnal Perspektif Ekonomi dan Pembangunan Daerah 8, no. 2 (May 7, 2019): 95–106. http://dx.doi.org/10.22437/pdpd.v8i2.8323.
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This study aims to: 1) To analyze the development of the open unemployment rate, economic growth, government spending, minimum wages, and the level of education of the provinces in Sumatra. 2) To find out and analyze what factors influence the income of street vendors on Jalan Basuki Rahmat to General H. Agus Salim by using panel data regression analysis tools. The development of the level of open unemployment, economic growth, and government spending in the provinces on the island of Sumatra during 2015-2017 fluctuated, however, the minimum wage and education level tended to increase. The regression results show that part, the variables of economic growth and the level of education have a significant effect on the level of open unemployment, while the variables of government spending and the minimum wage have no significant effect on the level of open unemployment in the provinces of Sumatra Island. Keywords: Open unemployment rate, Economic growth, Government expenditures, Minimum wages, Education level
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Balakireva, O. M., and S. M. Chernenko. "Income inequality of Ukraine’s population as a socially-economic problem." Ukrainian Society 30, no. 3 (October 9, 2009): 49–64. http://dx.doi.org/10.15407/socium2009.03.049.
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The article concerns the problems of income inequality of Ukraine’s population. The analysis of their differentiation was made, particularly on wages. The factors that modify official estimation of asperity were formed, as well as the proposals concerning measures of public policy for the purpose of prevention of their inequality growth.
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Zaitsev, S. V., A. E. Visalova, V. M. Lyamasova, and A. E. Izmailov. "Analyzing the level of wages in the Astrakhan Oblast." Finance and Credit 26, no. 3 (March 20, 2020): 565–79. http://dx.doi.org/10.24891/fc.26.3.565.
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Subject. The article considers theoretical aspects of nominal, accrued, real, and disposable wages and savings in the Astrakhan Oblast in various areas of economic activity. Objectives. The study aims to review movements in wages and their level, develop methods for assessing wages, calculate and analyze real wages and savings in the Astrakhan Oblast. Methods. The study draws on the analysis of data on the number of employees and their wages and salaries in the Astrakhan Oblast, which are provided by the Office for National Statistics, and the calculation of indicators based on these data. Results. We analyzed trends in wage increase and the number of employed population in the Astrakhan Oblast. The paper systematizes theoretical aspects of wage assessment, presents calculated indicators of real wages and savings of the employed population. The indicators of savings are divided into groups reflecting the level of household wealth. We provide diagrams illustrating the demand for labor in the Astrakhan Oblast. The findings may be useful for the analysis of living standard in the said area, its socio-economic level. They are also helpful for formulating directions for the region's development. Conclusions. Despite the growth of nominal wages in most spheres of economic activity, more than half of the population of the Astrakhan Oblast do not have incomes to satisfy all their social and spiritual needs, since a large portion of income goes to the minimum needs of subsistence, payment for utilities, cellular communication services and internet, and transport.
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Prvonožec, Stela. "Utjecaj plaća na tržište rada u Republici Hrvatskoj." Oeconomica Jadertina 10, no. 2 (December 17, 2020): 115–26. http://dx.doi.org/10.15291/oec.3169.
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Labour market, value of wages and standard of living are inextricably linked determinants of economic development. Croatian GDP, living standards and purchasing power of the population are among the lowest in Europe. Wage growth in Croatia is present, but, as in most Central and Eastern European countries, it is not accompanied by an increase in labour productivity. The majority of the income of the Croatian population is spent on food, which is associated with low productivity of the economy. There is a significant dependence on social transfers in the structure of the household income, which, for a significant share of the population, represent the difference between poverty and relatively normal life. Croatia has failed to create economic models that enable economic growth through technological progress and strengthening of labour productivity. In order to improve the standard of living in the Republic of Croatia, it is necessary to solve the structural problems present in the labour market and create economic policies that encourage economic growth. This paper analyses the relationship between the value of wages, labour market and standard of living in the Republic of Croatia. The hypothesis is that structural problems in the Croatian labour market affect the value of wages, and consequently the standard of living of Croatian citizens. The aim of this paper is to analyse the structural problems on the labour market in Croatia and their impact on the value of wages. The purpose of this paper is to point out the importance of an efficient labour market in the national economy of the Republic of Croatia.
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Tleuberdinova, Aizhan, Zhanat Shayekina, Dinara Salauatova, and Stephen Pratt. "Macro-economic Factors Influencing Tourism Entrepreneurship: The Case of Kazakhstan." Journal of Entrepreneurship 30, no. 1 (January 22, 2021): 179–209. http://dx.doi.org/10.1177/0971355720981431.
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Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism development needs active entrepreneurship. As the country emerges from the post-Soviet era, there has been an increase in economic development and prosperity. Entrepreneurship in the tourism sector can drive economies forward through the creation of new tourism and hospitality businesses. The macroeconomic environment can influence entrepreneurial activity. We use an autoregressive distributed lag (ARDL) model to examine the impact of macroeconomic factors on tourism entrepreneurship in Kazakhstan. Using data from 1996 to 2018, we find that there is a positive short-run relationship between wages in the tourism sector and entrepreneurship, suggesting that wage growth in the sector attracts entrepreneurs. In the long run, however, tourism sector wages have a negative relationship with entrepreneurship, suggesting that these higher wages represent a higher cost to entrepreneurship. There is also a strong positive relationship between national income and tourism entrepreneurship in Kazakhstan. Implications of macroeconomic policy changes for Kazakhstan and other emerging economies are discussed.
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Bengtsson, Erik, and Engelbert Stockhammer. "Wages, Income Distribution and Economic Growth: Long-Run Perspectives in Scandinavia, 1900–2010." Review of Political Economy 33, no. 4 (January 13, 2021): 725–45. http://dx.doi.org/10.1080/09538259.2020.1860307.
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Xiaoshuang, Ma. "Research on the Influencing Factors and Safeguard Mechanism of Farmers’ Income Growth in the New Era." Research in Economics and Management 3, no. 4 (September 5, 2019): p363. http://dx.doi.org/10.22158/rem.v3n4p363.
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As an important indicator to measure the degree of general social affluence and economic development in a country or region, peasant income has become an important focus of rural development under the new era rural revitalization strategy. The issue of farmers’ income is the core and key to the issue of “agriculture, rural areas and farmers”. Under the rural revitalization strategy, the traditional rural areas have undergone tremendous changes, and the wages of farmers’ wages, operating income, and transfer income are insufficient. Farmers’ continued income growth is facing enormous challenges. In the face of difficulties, the 19th National Congress of the Communist Party of China proposed that “the second round of land contracting will be extended for another 30 years”. It can be seen that the party and the state have profoundly recognized the importance of peasant income for increasing farmers’ income.
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Naqvi, Syed Nawab Haider. "The "Orderliness" of Economic Development (Presidential Address)." Pakistan Development Review 33, no. 4I (December 1, 1994): 317–23. http://dx.doi.org/10.30541/v33i4ipp.317-323.
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The process of economic development-in the sense of a sustained increase in per capita income-is typically associated with dramatic changes in some key economic variables relating to the sectoral composition of production, trade, and factor-use. And this seems to suggest that it is essentially a "disorderly" affair. Some of these changes have been observed regularly enough to qualify as the stylised facts, or the "regularities", of economic development. These general observations about the real world seem to support a spate of "disorderly" hypotheses about the nature of economic development. The critical minimum-effort hypothesis, the poles-of-development conjecture, the unbalanced-growth strategy of development, the propositions advocating a big-push, the great spurt, or the process of cumulative causation, all suggest that the development process may have been disequilibrating in the "structural sense" . Yet another dimension of such "disorderly" hypotheses is the pioneer's vision of the effects of growth on income distribution. Thus Lewis's "capital fundamentalism" envisages a particularly "bloody" scenario: capital accumulation proceeds relentlessly in his dual-economy model, where profits rise while real wages remain constant because the supply of labour-the Marxian "reserve army"-is (definitionally) elastic. In Lewis's model, if not in the real world, the story of (capitalist) growth comes to an end once the real wage starts to rise; this must happen because, again by definition, the wage-earners consume all that they earl}. Kuznet's and also Myrdal's inverted U-shaped pattern of inequality-partially confirmed by cross-country investigations of the size distribution of income-postulates a worsening of income distribution, at least in the initial stages of economic development.
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Myant, Martin. "Dependent capitalism and the middle-income trap in Europe na East Central Europe." International Journal of Management and Economics 54, no. 4 (December 31, 2018): 291–303. http://dx.doi.org/10.2478/ijme-2018-0028.
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Abstract The post-2008 slowdown in economic convergence by countries of east central Europe towards the level of western Europe is interpreted with the help of a concept of dependent capitalism. Convergence appeared to be rapid up to that year, but then stalled, albeit with differing results depending on the measure used. Dependent capitalism meant that the driver for economic growth comes from inward investment by multinational companies (MNCs). Domestically owned businesses failed when faced with international competition, and their agenda hampers policies supporting an active role from the state. Inward investment is attracted by low wages and has contributed to substantial growth, but the slowdown in investment was accompanied by much slower economic growth and dangers that past investment could turn into a burden on the external balance. The strategies pursued by incoming MNCs have brought areas of upgrading, but frequently leave technological levels somewhat behind those of western Europe. Even where they use the same technologies as in their home countries, wages still remain significantly lower. Achieving full convergence would require a different growth model following a substantial change in economic policies: this does not appear likely in the near future.
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Burman, Leonard E. "A Universal EITC: Making Work Pay in the Age of Automation." National Tax Journal 73, no. 4 (December 1, 2020): 1187–218. http://dx.doi.org/10.17310/ntj.2020.4.12.
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The universal earned income tax credit is a worker subsidy designed to offset wage stagnation. The base proposal would replace existing subsidies for working families with a refundable 100 percent tax credit on individual wages up to $10,000 and a larger, refundable child tax credit. The maximum credit grows with gross domestic product, guaranteeing that low-wage workers benefit from economic growth. The credits are offset by a broad-based value-added tax or income surtax. The proposals are progressive: After-tax income for the bottom quintile would increase by about 25 percent. The tax burden on the top 1 percent would increase by 7-14 percent of income, depending on financing.
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Suryani, Krisna Gita, and Nenik Woyanti. "The Effect of Economic Growth, HDI, District/City Minimum Wage and Unemployment on Inequity of Income Distribution in Province of D.I Yogyakarta (2010-2018)." Media Ekonomi dan Manajemen 36, no. 2 (July 1, 2021): 170. http://dx.doi.org/10.24856/mem.v36i2.1990.
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The high inequality of income distribution that occurs in the Special Region of Yogyakarta Province shows that economic development has not succeeded in bringing equity to the community. For this reason, an analysis is needed to determine the factors that inequality of income distribution in order to reduce inequality of income distribution that occurs in the Province of DI Yogyakarta. The purpose of this study was to determine the effect of economic growth, HDI, Distric/City Minimum Wage, and Unemployment. This research uses secondary data obtained from the Central Statistics Agency of D.I Yogyakarta Province. The data in this research is panel data consisting of cross section data from 5 districs/cities and time series data for 2010-2018. The data analysis used was panel data regression analysis with the Fixed Effect regression model. The results of the regression analysis show that economic growth does not have a significant effect on inequality of income distribution. Meanwhile, HDI, Distric/City Minimum Wages and Unemployment have a significant effect on the inequality of income distribution. HDI has a negative effect, while Distric/City Minimum Wage and Unemployment have a positive effect on inequality of income distributed in the Province of DI Yogyakarta in 2010-2018
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Trpeski, Predrag. "Wages Inequality in the Republic of Macedonia in a Post Crisis Period." ECONOMICS 3, no. 2 (December 1, 2015): 19–26. http://dx.doi.org/10.1515/eoik-2015-0015.
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Abstract The aim of this paper is to show the distribution of net wages in the Republic of Macedonia and whether the great world economic crisis of 2008 has had an impact on the inequality in the distribution of wages. In this paper it is analyzed the level of inequality in the distribution of wages in Macedonia in 2008 as a year when the economic crisis started in the last quarter, in 2012 as the year in which GDP still has had a negative rate of economic growth and in 2014, when the economy maintained positive economic growth. In the three selected years the analysis is based on examination of the inequality in the distribution of the paid net wages. In the paper, the analysis of inequality in the distribution of net wages is based on determining the distribution of frequencies, constructing the Lorenz curve and the Gini index calculation. The results show that there is a quite expressed inequality in the distribution of net wages in Macedonia, whereas the estimated Gini index is 27.98 in 2008, 26.76 in 2012 and 25.88 in 2014. Thus, it should be kept in mind that the inequality in the distribution of total income is higher and in the analyzed period the Gini index is greater than 40. This points the fact that Macedonia has the highest inequality in the distribution of income compared to all EU member states and candidate countries for EU membership.
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Bivens, Josh, and Lawrence Mishel. "The Pay of Corporate Executives and Financial Professionals as Evidence of Rents in Top 1 Percent Incomes." Journal of Economic Perspectives 27, no. 3 (August 1, 2013): 57–78. http://dx.doi.org/10.1257/jep.27.3.57.
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The debate over the extent and causes of rising inequality of American incomes and wages has now raged for at least two decades. In this paper, we will make four arguments. First, the increase in the incomes and wages of the top 1 percent over the last three decades should be interpreted as driven largely by the creation and/or redistribution of economic rents, and not simply as the outcome of well-functioning competitive markets rewarding skills or productivity based on marginal differences. This rise in rents accruing to the top 1 percent could be the result of increased opportunities for rentshifting, increased incentives for rent-shifting, or a combination of both. Second, this rise in incomes at the very top has been the primary impediment to having growth in living standards for low- and moderate-income households approach the growth rate of economy-wide productivity. Third, because this rise in top incomes is largely driven by rents, there is the potential for checking (or even reversing) this rise through policy measures with little to no adverse impact on overall economic growth. Lastly, this analysis suggests two complementary approaches for policymakers wishing to reverse the rise in the top 1 percent's share of income: dismantling the institutional sources of their increased ability to channel rents their way and/or reducing the return to this rent-seeking by significantly increasing marginal rates of taxation on high incomes.
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Rodgers, Gerry. "Inequality in the Indian Growth Regime*." Indian Journal of Human Development 12, no. 2 (August 2018): 134–48. http://dx.doi.org/10.1177/0973703018793956.
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Researchers and policymakers have traditionally been more concerned with poverty than with inequality in India but this is now changing. The long-term trend in India was for economic inequality to decline until the 1980s, but it has since been rising, especially in urban areas, and between urban and rural areas. Wages have been rising and absolute poverty has been falling, but there has been a tendency for the gains from growth to be concentrated among the highest income groups. This applies not only to income and expenditure but also to wealth. These trends reflect the social and economic institutions that underpin the changing growth regime in India—the macroeconomic framework; wage labour relations; agrarian relations; the competition regime; type of integration in the international economy; and the role of the state. These institutions and their interactions give rise to particular patterns of growth and distribution, which change over time, and which need to be analysed in historical context. The article briefly reviews the impact of these factors on inequality over the period since Independence, and suggests that the forces driving the upward path of inequality remain strong.
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Donaubauer, Julian, and Christian Dreger. "The End of Cheap Labor: Are Foreign Investors Leaving China?" Asian Economic Papers 17, no. 2 (June 2018): 94–107. http://dx.doi.org/10.1162/asep_a_00611.
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China's government has been promoting the shift toward a consumption-based economy in the past few years to arrive at a path of sustainable and socially inclusive growth. In this context, the explicit goal to significantly raise the percentage of wages in the national household income was an integral part of the 12th Five-Year Plan (2011–15). These changes in economic strategy are likely to affect the attractiveness of the country to foreign investors. In this paper, we raise the hypothesis that soaring relative wages negatively affect foreign direct investment (FDI) inflows to China, and alter their distribution within China. In addition, low-wage countries in the Asian region might benefit from the changed direction of FDI inflows. We utilize fixed-effects panel models with spatial spillovers for Chinese provinces and developing ASEAN countries to provide strong and robust evidence that wage increases change the allocation of FDI within China. In addition, we show that the changes in China's economic strategy improve the chances of its low-income neighbors to attract FDI.
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Marchal, Sarah, and Ive Marx. "Stemming the tide: What have European Union countries done to support low-wage workers in an era of downward wage pressures?" Journal of European Social Policy 28, no. 1 (June 22, 2017): 18–33. http://dx.doi.org/10.1177/0958928717704747.
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Governments across the European Union (EU) have been striving to get more people into work while at the same time acknowledging that more needs to be done to ‘make work pay’. Yet this drive comes at a time when structural economic shifts are putting pressure on wages, especially of less skilled workers. This article focuses on trends in minimum wages, income taxes and work-related benefits within a selection of 15 EU countries, for the period 2001–2012, with three US states included as reference cases. We find evidence for eroding relative minimum wages in various EU countries, yet combined with catch-up growth in the new member states. We also find that governments counteracted eroding minimum wages through direct income support measures, especially for lone parents. Most prevalent among these were substantial declines in income tax liabilities.
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Malik, Afia, and Ather Maqsood Ahmed. "The Relationship between Real Wages and Output: Evidence from Pakistan." Pakistan Development Review 39, no. 4II (December 1, 2000): 1111–26. http://dx.doi.org/10.30541/v39i4iipp.1111-1126.
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Information on wage levels is essential in evaluating the living standards and conditions of work and life of the workers. Since nominal wage fails to explain the purchasing power of employees, real wage is considered as a major indicator of employees purchasing power and can be used as proxy for their level of income. Any fluctuations in the real wage rate have a significant impact on poverty and the distribution of income. When used in relation with other economic variables, for instance employment or output they are valuable indicators in the analysis of business cycles. There has been a long debate regarding the relationship between real wages and the employment (output). Despite the apparent simplicity, the relationship between real wages and output has remained deceptive both theoretically and empirically. Keynes (1936) viewed cyclical movements in employment along a stable labour demand schedule thus indicating counter cyclical real wages. His deduction is in line with sticky wages and sticky expectations, which augments models like Phillips curve. In these models real wages behaved as counter-cyclical as nominal wages are slow to adjust during recession (decrease in aggregate demand and associated slowdown in price growth). Stickiness of wages or expectations shifts the labour supply over the business cycles [Abraham and Haltiwanger (1995)]. Barro (1990) and Christiano and Eichenbaum (1992) have associated these labour supply shifts with intertemporal labour-leisure substitution. This in response to temporary changes in real interest rates (fiscal policy shocks) could yield counter-cyclical real wages. However, Long and Plosser (1983) and Kydland and Prescott (1982) while studying the real business cycle models highlight on the technology shocks which leads to pro-cyclical real wages.
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Tabassum, Amina, and M. Tariq Majeed. "Economic Growth and Income Inequality Relationship: Role of Credit Market Imperfection." Pakistan Development Review 47, no. 4II (December 1, 2008): 727–43. http://dx.doi.org/10.30541/v47i4iipp.727-743.
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The 20th century has witnessed unequalled success in improving the living standard of people in most part of the world. According to World Bank annual Statistical reports, poverty has declined significantly in developing countries over the past twenty years but the progress has been uneven. The number of people living in poverty fell from 1.5 billion in 1981 to 1.1 billion in 2001. However, many low-income developing countries are still trapped in vicious circle of poverty. In Sub-Saharan Africa, the number of poor rose from 41 percent to 46 percent between 1981 to 2001.While in Eastern Europe and Central Asia, the numbers of poor people have risen to around 20 percent in 2001.1 Therefore; reduction of widely scattered poverty is the most challenging goal for low income developing countries. Economic growth is considered to be a powerful force for reducing poverty. High and sustained economic growth increases the labor demand and wages which in return will reduce poverty. Similarly, better earnings as a result of reduction in poverty lead to increase productivity and growth. But the extent of poverty reduction as a result of economic growth depends on how the distribution of income changes with economic growth and on initial Inequalities in income. If income inequality increases, then economic growth does not lead to a significant poverty reduction. Many developing countries achieved high growth rates in different periods but poverty does not reduce significantly in these periods due to increase in income inequalities. Most South and East Asian economies grew at higher per capita rates since early 1970 along with rise in income inequality over time. In contrast, Latin American countries grew by less than the half of average growth rates in South and East Asia while maintaining high income inequality.2 The differences in income inequality at a given rate of growth require that efforts to reduce poverty by stimulating growth are not sufficient and need to be complemented by efforts to reduce income inequalities.
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Hamza, Bedri, and Petraq Milo. "Fiscal policy and economic growth: Some evidence from Kosovo." Journal of Governance and Regulation 10, no. 4 (2021): 130–36. http://dx.doi.org/10.22495/jgrv10i4art11.
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The main purpose of this study is to analyze the effects of fiscal policy on economic growth in the Republic of Kosovo for the time period from January 2006 to September 2018 in terms of their long-term and short-term relationships. The methods used are measured using the second data (monthly series) provided by the Department of Finance as the appropriate national institution. Kosovo as one of the Balkan countries is facing the same problems as other labor countries. This study will contribute greatly to analyzing the impact of fiscal policy and will help policymakers come up with good decision-making. The econometric vector autoregression (VAR) model used in this study uses total public expenditure, total public income, fixed income structure, and consumer price index as independent variables and gross domestic product (GDP) as a dependent variable. In addition, in order of consistency time-series data were evaluated by the augmented Dickey-Fuller unit root test. The study concludes that total public expenditure significantly affects GDP; on the other hand, the total public income has a positive but visible impact on GDP, which means that the impact of government investment is more pronounced on financial development compared to public revenue; and increased demand for co-operation has decreased in monetary terms (World Bank, 2021). It is possible that government spending and structure may be related to key development quality ideas, such as the segregation of wages and environmental support (Halkos & Paizanos, 2015).
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Dutt, Amitava Krishna. "Income inequality, the wage share, and economic growth." Review of Keynesian Economics 5, no. 2 (April 2017): 170–95. http://dx.doi.org/10.4337/roke.2017.02.03.
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Savina, S. V. "Improvement of the remuneration system in modern conditions." Normirovanie i oplata truda v promyshlennosti (Rationing and remuneration of labor in industry), no. 9 (September 1, 2020): 6–12. http://dx.doi.org/10.33920/pro-3-2009-01.
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Today, a difficult situation has developed in the field of wages and incomes of the population, associated with the need to increase the level of wages and real incomes of the population, since low effective demand in the domestic market can become the main constraint on economic growth in the near future. The main goal of wage reform in modern conditions is to restore the role of wages as the main incentive for productivity growth and labor efficiency, which will have a positive impact on the functioning of production and will give an impetus to its further development.
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Arestis, Philips, Jesús Ferreiro, and Carmen Gómez. "Employment protection legislation and labour income shares in Europe." Panoeconomicus 67, no. 3 (2020): 291–308. http://dx.doi.org/10.2298/pan2003291a.
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The paper analyses the determinant elements of the evolution of labour income share, measured by the size of compensation of employees as a percentage of GDP in twenty European economies. In doing so, special attention is paid to the impact of employment protection legislation. Our study?s results show that the evolution of labour income share is explained by the economic growth, the growth of employment and unemployment rates, and the growth of real wages. Regarding employment protection, only employment protection for temporary workers matters. Our results shows that stricter provisions on the use of fixed-term and temporary agency contracts have a positive impact on the growth of the labour shares.
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Taresh A., Abdulrahman, Dyah Wulan Sari, and Rudi Purwono. "Joint Determinants of Monetary, Macroeconomic, Social and Income Inequality." Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan 21, no. 2 (December 30, 2020): 134–60. http://dx.doi.org/10.23917/jep.v21i2.11254.
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This study discusses all the potential relationships between monetary, macroeconomic, social and income inequality in an integrated manner by making Indonesia a concrete case study. This empirical study discussed the relationship based on theoretical modelling and carried out through appropriate estimators applied to the data of 33 provinces in Indonesia. To achieve this objective, the simultaneous model of seemingly unrelated regressions (SUR) was used. The results concluded that there are variables that jointly determined the monetary, macroeconomic and social also income inequality. Like, consumption can increase inflation and macroeconomic while at the same time can reduce population growth and human development, and increases income inequality. Savings which determine credit also pushes macroeconomics while simultaneously increasing population growth, and it can reduce income inequality. Minimum wages can reduce inflation and encourage production growth, while increases human development and reduces population growth also can reduce income inequality. Unemployment can also reduce inflation and increase economic growth, at the same time reduces population growth and human development while increases income inequality. Education and health encourages economic growth and the level of human development then can reduce income inequality.
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Hein, Eckhard, and Thorsten Schulten. "Unemployment, wages and collective bargaining in the European Union." Transfer: European Review of Labour and Research 10, no. 4 (November 2004): 532–51. http://dx.doi.org/10.1177/102425890401000407.
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This article questions the predominant view on unemployment and wages in the European Union, according to which high unemployment is primarily caused by labour market rigidities, i.e. social institutions and regulations which prevent ‘market-clearing’ real wage levels and structures. The article shows that the foundations of that view coming either from neoclassical or New Keynesian theory are not convincing, neither theoretically nor empirically. Analysis of the developments in the EU during the last four decades shows that the claimed positive relationship between real wage growth and unemployment cannot be found. On the contrary, persistently high unemployment has had strong adverse effects on nominal wage growth and on the labour income share. Weakened union bargaining power and changing collective bargaining structures have contributed to this result. This article therefore concludes that the current EU economic and employment policies aiming at further wage restraint, wage differentiation and decentralisation of collective bargaining are deeply misguided and need to be replaced by an alternative wage policy as part of a growth- and employment-oriented coordination of macroeconomic policies.
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Kawuryan, Anna Maria Siti. "Education in Indonesia's Regional Economic Development Before Fiscal Decentralization." Jurnal Ekonomi dan Pembangunan Indonesia 2, no. 2 (January 1, 2002): 40–62. http://dx.doi.org/10.21002/jepi.v2i2.625.
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Indonesia is a diverse country with uneven resource endowment across its provinces. This study examines the effects of human capital investment policies on the promotion of more equitable income growth across provinces. First, the rate of return to education is estimated for each province using the 1976 and 1989 Indonesian National Labor Force Surveys (SAKERNAS). Then, regional economic indicators are used to explain differences in the rates of return to education among provinces and to develop and test hypotheses regarding the contribution of investment in education to personal income growth in different regions in Indonesia.The study finds large differences in the rates of return to education among provinces with the highest rates of return in the poorest provinces. A model of segmented regional labor markets is advanced to explain why wage differences across provinces may exist. The estimates suggest that labor market segmentation was more pronounced for un- or low-educated workers because inter-provincial differences in wages were greater among this group than among more educated workers. Education may reduce regional labor market segmentation. More educated workers may be better able to compete for jobs in other provinces, and therefore more mobile, because they possess the needed language and market skills.Thus, it appears that education not only enhances personal (and national) income, but also promotes greater equity across provinces. Equitable investment in education across provinces is compatible with both equity and efficiency goals in regional economic development.
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Shyfrina, N. I. "The Adequacy of Setting the Level of Minimum Wage in Ukraine." Business Inform 2, no. 517 (2021): 183–89. http://dx.doi.org/10.32983/2222-4459-2021-2-183-189.
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The article is aimed at examining the adequacy of setting the level of minimum wage to modern conditions of economic management in Ukraine. At the heart of the State regulation of Ukrainian economy, as in most countries of the world, are social standards, the justified establishing of which allows to stimulate the economic growth of the country, control the redistribution of income in the economy, ensure an adequate level of reproduction of labor and quality of life of the population. One of the key levers of socio-economic policy of the State is the setting of a minimum wage in the legislative order. The author systematizes the basic factors on the ground of which the minimum wage should be determined: subsistence minimum; relation to the average level of wages, taking into account its unevenness in the regions of Ukraine; growth rate of the consumer price index. The level of minimum wage and its compliance with the above specified factors, taking into account the practice of developed countries, is analyzed. The author determines an inadequacy of this indicator of the economic situation and the inconsistency of its dynamics from 2016 to the present time with the basic factors studied. The negative impact of raising the minimum wage on the dynamics of the number of people transferred to part-time and those who were on vacation without wages is defined. Several directions of improvement of the State policy on setting the level of minimum wage are proposed.
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Arno, Abdul Kadir, Ilham Ilham, Akbar Sabani, and Iksan Purnama. "Analysis of Inflation Targets in Indonesia During The New Normal Era: New Consensus Approach to an Open Economy." Jurnal Iqtisaduna 1, no. 1 (September 10, 2020): 23. http://dx.doi.org/10.24252/iqtisaduna.v1i1.15810.
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This article aims to discuss a growth model in terms of demand constrained by economic policy with inflation targeting in a super multiplier sraff model by analyzing how economic policy can affect productive capacity growth. This article also analyzes the open economy if inflation is a phenomenon resulting from the policy of the monetary authority that can manage the nominal exchange rate through changes in interest rates. Since the distribution of functional income will depend on the evolution of nominal wages, exchange rates and interest rates, we will show that the inflation targeting system, apart from being neutral in terms of long-term growth, can also produce different results in terms of the distribution of functional income
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Ivanchuk, Nataliia Volodymyrivna, and Nataliia Anatoliivna Mamontova. "Payroll taxes increase reserves in Ukraine." Independent Journal of Management & Production 12, no. 2 (April 1, 2021): 575–89. http://dx.doi.org/10.14807/ijmp.v12i2.1297.
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The authors analyzed the reformation of the payroll taxation mechanism in Ukraine, identified wage differences of the employees at the large, medium-sized and small business entities, figured out the reserves to increase tax revenues and cover the deficit of the Pension Fund of Ukraine by decreasing shadow wages and improving payroll taxation in Ukraine. Significant attention is paid to the salaries of the top managers of large business entities as a possible field of applying progressive taxation of personal income. Based on the analysis of the EU countries experience, the authors suggest imposing the second progressive personal income tax rate of 32% for the monthly income that exceeds 15 minimum wages. As well, the abolishment of the maximum unified social contribution base is recommended. In the paper, the authors prove the importance of reducing the level of the shadow economy in Ukraine by forming a public trust to the government policy and using accumulated tax funds appropriately. It has been proved that by reducing the shadowing of the Ukrainian economy to the EU level, the deficit of the Pension Fund of Ukraine can be covered only partially. This fact determines the necessity for Ukraine to ensure economic growth and increase wages.
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Kasanah, Yunani Tiya, Anifatul Hanim, and P. Edi Suswandi. "Faktor - Faktor yang Mempengaruhi Pengangguran Terbuka di Provinsi Jawa Tengah Tahun 2009-2014." e-Journal Ekonomi Bisnis dan Akuntansi 5, no. 1 (May 23, 2018): 21. http://dx.doi.org/10.19184/ejeba.v5i1.7727.
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Economic development of a country aims to increase social welfare by expanding employment opportunities and direct distribution of income evenly. Uneven economic development would be problematic one of them is unemployment. Unemployment is a complex problem that can lead to social phenomena in society as someone who did not work so it does not earn. It is therefore necessary to find a solution to overcome the problem of unemployment. This study aims to determine the effect of the minimum wage, the labor force and economic growth on unemployment in Central Java province in 2009-2014. The analytical method used in this research is panel data regression with fixed effect model approach (FEM). Based on the analysis, it is known that variable minimum wage a significant negative effect on the variable open unemployment in Central Java, a variable workforce positive and significant effect on the variable open unemployment in Central and variable economic growth does not significantly influence the variables of unemployment in Central Java. Keywords: Unemployment, Minimum Wages, Labor Force, economic growth
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Beztelesna, Lyudmila. "PERFORMANCE MANAGEMENT OF LABOR: THE MACROECONOMIC ASPECT." International Journal of New Economics and Social Sciences 3, no. 1 (June 30, 2016): 0. http://dx.doi.org/10.5604/01.3001.0010.4717.
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Proved that is competitive and the economy, which provided faster growth of labor productivity growth over wages. Identified an urgent need to manage productivity in modern conditions. Reflected the negative effects of liberal economic reforms in Russia and Kazakhstan. Showing weather hit countries in a trap average income. On the basis of experience of competitive economies necessity to stimulate productivity growth based on public-private partnership.
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Wilmers, Nathan. "Wage Stagnation and Buyer Power: How Buyer-Supplier Relations Affect U.S. Workers’ Wages, 1978 to 2014." American Sociological Review 83, no. 2 (March 27, 2018): 213–42. http://dx.doi.org/10.1177/0003122418762441.
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Since the 1970s, market restructuring has shifted many workers into workplaces heavily reliant on sales to outside corporate buyers. These outside buyers wield substantial power over working conditions among their suppliers. During the same period, wage growth for middle-income workers stagnated. By extending organizational theories of wage-setting to incorporate interactions between organizations, I predict that wage stagnation resulted in part from production workers’ heightened exposure to buyer power. Panel data on publicly traded companies shows that dependence on large buyers lowers suppliers’ wages and accounts for 10 percent of wage stagnation in nonfinancial firms since the 1970s. These results are robust to a series of supplementary measures of buyer power; instrumental variable analysis using mergers between buyers; corrections for selection and missing data; and controls for individual worker characteristics like education and occupation. The results show how product market restructuring and new forms of economic segmentation affect workers’ wages. The spread of unequal bargaining relations between corporate buyers and their suppliers has slowed wage growth for workers.
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Podkaminer, Leon. "Globalization, secular stagnation, and soft national balances: A pro-equilibrium manifesto." Acta Oeconomica 68, s1 (January 2018): 141–52. http://dx.doi.org/10.1556/032.2018.68.s.11.
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It is argued that increased freedom to run economic activities combined with the growing impotence of national governments (i.e., globalization) have contributed to the secular growth slowdown at the global level. Fast globalisation-driven growth of international trade has unleashed the global race for economic surpluses. The process involves the suppression of wages and widening income inequalities – restricting aggregate demand globally. A “beggar-thy-neighbor” tactics of keeping large trade surpluses by countries successfully suppressing wages and domestic demand is likely to be unproductive. Overcoming the secular stagnation may not be possible without safeguarding equilibrium (or balance) in international transactions between major industrial countries – even if this may necessitate that in most (or all) of them the public sectors run large fiscal deficits permanently.
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Simonov, Sergei, Margarita Alexandrova, and Olga Yutkina. "INDIVIDUAL INCOME TAX - AS AN INDICATOR OF SOCIO-ECONOMIC DEVELOPMENT OF REGIONS." Russian Journal of Management 8, no. 2 (September 23, 2020): 21–25. http://dx.doi.org/10.29039/2409-6024-2020-8-2-21-25.
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The article provides a comprehensive analysis of the structure and composition of taxes levied on the territory of Russia from individuals and on this basis it is concluded that personal income tax is the main tax paid by the population of the Russian Federation to the state budget. The study and comparison of the population and the level of their average wages with the volume of personal income tax revenues made it possible to establish a direct relationship between the growth of tax revenues and the level of socio-economic development of the regions. In the course of the study, the main problems of taxation of individuals were identified and promising directions for improving the collection of tax on personal income in the territory of the Russian Federation were proposed.
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Samborska, Oksana. "MONITORING OF INDICATORS OF SOCIO-ECONOMIC DEVELOPMENT OF UKRAINE." Three Seas Economic Journal 1, no. 4 (December 28, 2020): 117–25. http://dx.doi.org/10.30525/2661-5150/2020-4-17.
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The transition to market relations and the corresponding structural changes in economy influenced the formation of incomes, their use and distribution system. The largest share in the structure of monetary income of the population is wages; it has increased in recent years. At the same time, there occurred the decline in production in the process of market transformation economy and, as a consequence, forced underemployment and unemployment of a large part of the working population, lack legislative levers of influence on the regulation of the property process stratification of the population led to a decline in living standards, deepening its stratification by the level of cash income and distribution of property, the inability of the majority of the population to do savings, spreading the shadow of monetary income of citizens, hiding them from taxation. This led to a reduction in the effective demand of the population, narrowing the volume of domestic market, reducing opportunities for domestic investment resources and restraint of economic growth of the state. The country’s economic growth is observed from year to year, it directly depends on the welfare of the population and their income. Socio-economic development of the country is impossible without the participation of the population and accumulation of human capital, investment in it. Structural changes in Ukraine’s economy – human capital index, average income, migration processes, declining total population – have negative consequences for economic growth in the country as a whole. Therefore, there is an urgent need to study this issue, taking into account all possible prospects. The peculiarities of these indicators specify the development of any country, where one of the main macroeconomic goals is due to the need to outpace the growth of national income in comparison with the growth of the index of human capital and income of citizens. The economic development of the country concerns money and the increase of the general welfare of the population. The way to improve the better life and economic development of the country is possible taking into account the transformation processes, but achieving this involves solving a set of goals and objectives facing governments at all levels. Economic and social development of the oblasts of Ukraine seeks to be better today. The delimitation of oblasts is caused by the level of the average wage, as well as the total per capita income. The study of indicators of socio-economic development requires clear and precise actions on the part of the state and local self-government. The creation of development strategies for a certain period helps to improve the situation in the oblasts of Ukraine, but it is a temporary phenomenon that is not a managed system in some cases. Currently, there is a problem of economic development, social protection of low-income groups and health care, retirement-age people and so on. All human and civil rights are equal and interrelated, and therefore they must be equally protected by the state: human’s life and health, honour and dignity, inviolability and security are the highest social values (Article 3); free development of personality (Article 23) is determined by the Constitution of Ukraine. The study outlines the relationship and interdependence of local budget revenues from subsidies and subventions of the state budget, economic activity of the population, as well as the unemployment rate is an important indicator of the general state of the economy.
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Syarif, Ahmad, and Wahyu Hadi Wibowo. "The Relation Between Minimum Wages and Poverty in Indonesia: An Islamic Perspective." Global Review of Islamic Economics and Business 5, no. 2 (December 7, 2017): 083. http://dx.doi.org/10.14421/grieb.2017.052-02.
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This study is part of Islamic economics research that aims to determine the relationship between the minimum wage and poverty rate in Indonesia, especially case studies in West Java, Central Java, East Java, Special Region of Yogyakarta, and Banten during the period 2007-2013. In addition to the primary independent variable, there are six control variables are used, the level of education, the GDP per capita, unemployment rate, inflation rate, average wages and economic growth. The analysis technique used in this study are Arellano Bond Dynamic GMM (Generalized Method of Moment). The results of this study found that the minimum wage is not a significant effect on poverty levels in 2007-2013, especially in the districts/cities in West Java, Central Java, East Java, Special Region of Yogyakarta and Banten. Based on the explanation above, it can be concluded that government has responsibilities and sufficient role to reduce poverty through minimum wage standardization, the state also has responsibilities to create social security, both for those who are unable to work, informal workers and vulnerable workers, so that the level of wages (income) they can meet any basic needs according to Ibn Hazm include food, clothing, health, education and housing.
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Sekmen, Fuat, and Mehmet Toptas. "Education, Technical Progress, and Economic Growth in the Information Age." International Journal of Social Ecology and Sustainable Development 6, no. 1 (January 2015): 73–84. http://dx.doi.org/10.4018/ijsesd.2015010106.
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Recent studies consider education and human capital growth as a main source of economic growth. In the classical model, population growth and capital accumulation was envisaged as an engine of economic development. Population and market rate of wages were believed to have mutual affinity. Neoclassical model, it is known as Solow Model, shows capital accumulation would increase the growth rates in the short run, but cannot generate any long run GDP growth rate increase. The Solow model implies that economies will conditionally converge to the same level of income, given that they have the same rates of savings, depreciation, labor force growth, and productivity growth. This study firstly examines the structural and economic changes in Turkish economy and then analysis the effect of education and the role of technical progress on Turkish economic growth during the period 1990-2012. This study finds out that the real GDP growth rate is dependent on capital formation and growth rate of labor force.
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Astorga, Pablo. "REAL WAGES AND SKILL PREMIUMS IN LATIN AMERICA, 1900-2011." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 35, no. 3 (November 10, 2017): 319–53. http://dx.doi.org/10.1017/s021261091700009x.
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AbstractThis paper discusses and documents a new data set of real wages for unskilled, semi-skilled and relatively skilled labour in Argentina, Brazil, Chile, Colombia, Mexico and Venezuela (LA-6) over the period 1900-2011. Three interrelated aspects are examined: the wage growth record associated with periods dominated by a particular development strategy; developments in the wage share of income; and movements in skill premiums and their links with fundamentals. The key findings are: (i) the region’s unskilled wage rose by 147 per cent compared to rises of 254 per cent in the average wage and 440 per cent in income per worker (including both property and labour income); (ii) the average LA-6 wage share started a secular fall in the 1950s; (iii) skill premiums tended to peak during the middle decades of the 20thcentury, coinciding with the acceleration of industrialisation and the timing of the demographic transition. Movements in the terms of trade are broadly associated with both fluctuations and trends in wage premiums, though the direction of the link is country and time specific.
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Hyder, Syed Kalim, Qazi Masood Ahmed, and Haroon Jamal. "Simulating the Impact of Income Distribution on Poverty Reduction." Pakistan Development Review 54, no. 4I-II (December 1, 2015): 931–44. http://dx.doi.org/10.30541/v54i4i-iipp.931-944.
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The traditional notion that has influenced the development thinking for almost half a century is that economic growth is fundamental to the development process, and that the objective of poverty reduction can only be achieved by allowing the benefits of growth to ultimately trickle down to the poor. The „primacy of growth‟ paradigm is based on the premise that high growth, through high investment, would lead to higher employment and higher wages, and thereby reducing poverty. The „trickle-down‟ paradigm assumes that the benefits of economic growth would, in the first round, accrue to the upper income groups, and the ensuing consumption expenditures of these households would, in subsequent rounds, accrue incomes to relatively lower income households. Importance of equity consideration in poverty alleviation efforts has been brought out of the cold and now has re-entered the mainstream development policy agenda in many developing countries. This is the consequence of a deep-rooted disillusionment with the development paradigm which placed exclusive emphasis on the pursuit of growth. During 1990s, the proliferation of quality data on income distribution from a number of countries has allowed rigorous empirical testing of standing debates on the relative importance of growth and redistribution in poverty reduction. While the debate is still inconclusive, the majority of development economists emphasised, based on empirical cross-country data, that an unequal income distribution is a serious impediment to effective poverty alleviation [Ravallion (1997, 2001)]. Many researchers suggested that growth is, in practice the main tool for fighting poverty. However, they also reiterated that the imperative of growth for combating poverty should not be misinterpreted to mean that “growth is all that matters”. Growth is a necessary condition for poverty alleviation, no doubt, but inequality also matters and should also be on the development agenda
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Hahn, Joyce K., Henry R. Hyatt, Hubert P. Janicki, and Stephen R. Tibbets. "Job-to-Job Flows and Earnings Growth." American Economic Review 107, no. 5 (May 1, 2017): 358–63. http://dx.doi.org/10.1257/aer.p20171077.
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The US workforce has had little change in real wages, income, or earnings since the year 2000. However, even when there is little change in the average rate at which workers are compensated, individual workers experienced a distribution of wage and earnings changes. In this paper, we demonstrate how earnings evolve in the US economy in the years 2001-2014 on a forthcoming dataset on earnings for stayers and transitioners from the U.S. Census Bureau's Job-to-Job Flows data product. We account for the roles of on-the-job earnings growth, job-to-job flows, and nonemployment in the growth of U.S. earnings.
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Mokline, Adla. "Criminality, Human Capital and Economic Performance." Business and Economic Research 8, no. 4 (November 22, 2018): 130. http://dx.doi.org/10.5296/ber.v8i4.13948.
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Criminality is any breach of the law likely to give rise to legal proceedings. It is determined by several factors namely (population density- unemployment-income- poverty and education). The objective of our work is to study criminality determinants on a sample of 51 American States over the period (2000-2013). Particular attention is paid to study the causal relationship between education (with its different measures) and criminality.In line with the approach to the economics of crime, this paper attempts to verify that urbanization, income inequality, unemployment, poverty and educational attainment significantly explain crime, on the one hand, and education is an investment activity that produces human capital, which is a fundamental factor of economic growth, job creation, wages and increased productivity of factors of production. Our results showed that the investment in human capital has a negative impact on crime in general. This effect is more considerable on crime against property. This leads us to define a crime deterrence policy through the implementation of structures able to help with installation of young people out of school and increase public spending on education.
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Rodríguez-Pose, Andrés, and Michael Storper. "Housing, urban growth and inequalities: The limits to deregulation and upzoning in reducing economic and spatial inequality." Urban Studies 57, no. 2 (September 17, 2019): 223–48. http://dx.doi.org/10.1177/0042098019859458.
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Urban economics and branches of mainstream economics – what we call the ‘housing as opportunity’ school of thought – have been arguing that shortages of affordable housing in dense agglomerations represent a fundamental barrier to economic development. Housing shortages are considered to limit migration into thriving cities, curtailing their expansion potential, generating rising social and spatial inequalities and inhibiting national growth. According to this dominant view, relaxing zoning and other planning regulations in the most prosperous cities is crucial to unleash the economic potential of cities and nations and to facilitate within-country migration. In this article, we contend that the bulk of the claims of the housing as opportunity approach are fundamentally flawed and lead to simplistic and misguided policy recommendations. We posit that there is no clear and uncontroversial evidence that housing regulation is a principal source of differences in home availability or prices across cities. Blanket changes in zoning are unlikely to increase domestic migration or to improve affordability for lower-income households in prosperous areas. They would, however, increase gentrification within metropolitan areas and would not appreciably decrease income inequality. In contrast to the housing models, we argue that the basic motors of all these features of the economy are the current geography of employment, wages and skills.
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LIU, MINQUAN. "GROWTH AND EQUITY IN CHINA: PATTERN, CAUSES AND CHALLENGES." Journal of International Commerce, Economics and Policy 03, no. 03 (August 14, 2012): 1250017. http://dx.doi.org/10.1142/s1793993312500172.
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Many factors have shaped the current pattern of growth and equity in the People's Republic of China (PRC). Among them are the foundations laid before 1978, especially in respect of land-related institutions and social sector investments. These successfully complemented the PRC's subsequent export and FDI promotion strategies. In the forthcoming decades, it will be important for the PRC to expand its domestic demand, improve on income distribution, and increase social sector investments. Greater social protections, higher wages and increased public spending on education can all help the PRC to meet these challenges to ensure sustained economic growth and development.
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Zvarych, Roman. "DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES." JOURNAL OF EUROPEAN ECONOMY Vol 17, Vol 17, No 1 (2018) (2018): 19–33. http://dx.doi.org/10.35774/jee2018.01.019.
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The research of the determinants of economic growth in developing countries is focused to assessing the prospects for the development of this group and its convergence with developed countries. The purpose of research is to identify the determinants of the economic growth of developing countries for the further development of conclusions on their development and convergence with developed countries. The object of research is the economic development of developing countries. The concept of development was investigated in the context of two general approaches, it were estimated its critical remarks and it were established historical links between industrialization and economic growth. It is defined the relationship between the growth rates of the developing countries, their deviations in per capita income and the share in world GDP. It is defined the place of developing countries in world industrial production and export and it is established the influence of industrialization on international trade and investment. It is investigated the degree of attraction of human and physical capital in the production of natural resources and added value. It is analyzed the world level of real wages and It is determined the extent of its promotion in the achievement of high end results of labor. It is estimated the inflation rate and its impact on the profitability of investment projects and it is defined the competitiveness of countries. It is formulated the conclusions on the development of developing countries and the prospects of their convergence with developed countries.
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Hunt, E. H. "Industrialization and Regional Inequality: Wages in Britain, 1760–1914." Journal of Economic History 46, no. 4 (December 1986): 935–66. http://dx.doi.org/10.1017/s0022050700050658.
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This paper describes the geographical pattern of wages in Britain between 1760 and 1914. It then draws out some of the implications of the wages pattern and considers, in particular, the implications for the “growth pole” debate on the likely effect of industrialization upon regional income inequalities. The market forces responsible for creating and maintaining these differentials are then described, followed by a final section which discsusses the significance of changing regional wage differentials to the standar-of-living debate. It concludes that from a regional perspective the overall effects of industrialization upon living standards are indisputably favorable.
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Hansen, Susan B. "The Impact of a Low-Wage Strategy on State Economic Development." State Politics & Policy Quarterly 1, no. 3 (September 2001): 227–54. http://dx.doi.org/10.1177/153244000100100301.
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The American states have pursued several different approaches to create jobs and foster economic development, including reducing the social cost of labor. I show that state labor costs are markedly lower in 1995 than in 1970, based on a factor analysis of wages and state regulations affecting unions and the cost of labor. Corporate low-wage strategies, international and interstate competition for business, and the growing weakness of labor unions are posited to account for this. But regression analysis shows that lower labor costs have had no significant impact on rates of job creation since 1980, have reduced unemployment only slightly, and have been less effective in the latter respect than either tax cuts or other economic development policies. Moreover, reducing labor costs can have adverse consequences, such as rising income inequality, slower growth in gross state product and productivity, and a less competitive position for states in the international economy.
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Rozelle, Scott, Yiran Xia, Dimitris Friesen, Bronson Vanderjack, and Nourya Cohen. "Moving Beyond Lewis: Employment and Wage Trends in China’s High- and Low-Skilled Industries and the Emergence of an Era of Polarization." Comparative Economic Studies 62, no. 4 (October 21, 2020): 555–89. http://dx.doi.org/10.1057/s41294-020-00137-w.
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AbstractOne of the defining features of China’s economy over the two decades between 1995 and 2015 was the persistent rise of wages for workers and professionals in nearly every segment of the economy—with wage rates for labor-intensive jobs in manufacturing, construction, and the informal service sector rising the fastest. Recently, however, the economic environment in China has begun to change, including changes in both employment and wages. We identify recent employment/wage trends throughout China’s economy and postulate the sources of these trends as well as possible future consequences if they continue. We use official, nationally aggregated data to examine employment and wages in multiple sectors and industries. Our findings indicate that China may have entered a new phase of economic development in the mid-2010s. According to the data, in recent years, wage growth has begun to polarize: Rising for professionals employed in formal skill-intensive industries; and falling for workers in the informal labor-intensive service sector. We attribute this increase in skill-intensive wages to an increase in demand for skill-intensive employment, due to the emergence of a large middle class in China, for whom the demand for high technology, finance, banking, health, and higher education industries is increasing while, at least in the recent short term, the supply of experienced, high-skilled professionals has not kept up. The employment/wage trend in the informal (low-wage) service sector, however, is following a different pattern. While there is a rising demand for services in China’s economy, the growth, due to a number of factors (e.g., large shares of GDP targeted by policymakers to investment; high rates of savings by consumers), is relatively slow. In contrast, due to a number of economic forces, including globalization and automation, the supply of labor into the service sector of the informal economy is being fueled by the flow of labor out of manufacturing and construction (two industries that that have experienced employment declines since 2013). These supply and demand trends, in turn, are leading to the fall in the growth rate of wages in the informal service sector. We conclude by discussing the possible longer-term consequences of these emerging polarization trends based on an examination of recent experience with wage polarization occurring in both middle- and high-income countries, as well as its consequences. We also present policy recommendations for greater investment in education and human capital, as well as for the development of a more comprehensive set of social safety nets for different segments of China’s population.
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Rockoff, Hugh. "On the Controversies Behind the Origins of the Federal Economic Statistics." Journal of Economic Perspectives 33, no. 1 (February 1, 2019): 147–64. http://dx.doi.org/10.1257/jep.33.1.147.
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Our federal economic statistics originated in the economic and political divisions in the United States and the bitter debates over economic policy they engendered at the end of the 19th century and during the world wars and Great Depression. Workers were angry because they believed that they were being exploited by robber barons who were capturing all of the benefits of economic growth, while employers were just as sure that the second industrial revolution had brought workers an unparalleled increase in real wages. Other debates centered on the effects of unrestricted immigration on wages and employment opportunities of native-born Americans, on the effects of tariffs on prices paid by consumers, on the effects of frequent financial panics on employment, and, during the world wars, on the effects of wage and price controls on the living standards of workers. Participants on all sides of these debates believed that nonpolitical and accurate statistics constructed by experts would help to win support for the policies they favored. In most cases, the development of these statistics was led by individuals, private organizations, and state governments, although the federal government eventually took over the role of producing these statistics on a regular basis. Here I provide brief histories of the origins of US statistics on prices, national income and product, and unemployment to illustrate this story.