Minimum wage policies to boost inclusive growth

Sudip Ranjan Basu and Yusuke Tateno ()

No PB16, MPDD Policy Briefs from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: ESCAP analysis indicates that a minimum wage policy, if designed carefully along with supportive adjustment measures, boosts workers’ income and improves long-term job prospects without adversely affecting businesses. For example, recent minimum wage hikes in Thailand are projected to increase employment growth by up to 0.6 of a percentage point by 2015, while real GDP growth is expected to increase by 0.7 of a percentage point above the level foreseen if no minimum wage increases were implemented.

Date: 2013-08
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