Cabaran Globalisasi: Strategi Ekonomi Upah Tinggi

Zulkifly Osman () and Mohd Azlan Shah Zaidi ()
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Zulkifly Osman: Jabatan Analisis Ekonomi dan Dasar Awarn Fakulti Ekonomi Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor Darul Ehsan
Mohd Azlan Shah Zaidi: Jabatan Analisis Ekonomi dan Dasar Awam Fakulti Ekonomi Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor Darul Ehsan

Jurnal Ekonomi Malaysia, 2002, vol. 36, 3-17

Abstract: In high-wage economy model, wage should n0t only be regarded as merely a cost factor but also as all income factor for labors, This would means that having a higher wage will contribute to better live condition, higher work effort, and consequently higher productivity among labors. This in turn will increase employers’ profit, Nevertheless, a question arises 0n whether higher wage can actually be a cause to higher productivity or the other way around, Using causality tests of Granger(1969) and Toda and yamamota (1995). this paper makes an attemp to look at the causal relationship between the two variables, namely wage and productivity in two economic sectors of Malaysia (Manufacturing and Construction). The results show that the phenomenon of high-wage economy does in fact exist. This would mean that higher wage will indeed lead to higher productivity.

Date: 2002
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