Minimum-Wage Fixing and Economic Development

N. N. Franklin

Chapter Paper 6 in Wage Policy Issues in Economic Development, 1969, pp 338-353 from Palgrave Macmillan

Abstract: Abstract Though coverage and effectiveness of enforcement vary widely, most developing countries now have some system, national or sectoral, of state regulation of minimum wages.2 Indeed, regulation of minimum wages is one of the main instruments available to governments that wish to influence the level and structure of wages. Four possible purposes of minimum-wage fixing may be distinguished to bring the lowest wages up towards the general level of wages paid for similar work; to exert upward pressure on the general level of wages as a whole; to eliminate ‘unfair competition’; and to serve as one among a number of instruments of a comprehensive policy aimed at promoting rapid growth and fair sharing of the national income.

Keywords: Minimum Wage; Collective Bargaining; High Wage; Wage Increase; Wage Earner (search for similar items in EconPapers)
Date: 1969
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-00105-7_23

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DOI: 10.1007/978-1-349-00105-7_23

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