Research on Wage Levels during the Take-off Phase of China's Economy

Author: Hu Fangzhi
Publisher:
Publish Date: 2005-05-01
Features: This academic monograph systematically studies the wage levels and their effects during the economic take-off stage from both theoretical and empirical perspectives, making the topic significant in both theory and reality. The monograph first provides a systematic review of wage determination theories. Then, based on empirical analysis of wage determination in the economic take-off stage of developing countries such as Latin America and East Asia, it focuses on analyzing China's wage levels and their effects after entering the economic take-off stage, particularly offering innovative insights in examining the negative impacts of low-wage systems on economic development. The monograph is well-structured, logically coherent, rich in data, and written in a relatively standardized manner, demonstrating the author's solid theoretical foundation and systematic professional knowledge in the field. —Excerpt from the dissertation defense committee's resolution
This book takes the "take-off" stage—a decisive phase in the industrialization and modernization of developing countries—as its backdrop, attempting to explore the issue of moderate wage levels during China's economic take-off period and the role of the wage mechanism in this process. The paper first reviews the evolving wage theories over the past two centuries, which provide important insights and theoretical guidance for studying and addressing China's wage level issues during the take-off stage. It also conducts an empirical analysis of the wage level determination during the early take-off period in the United Kingdom, as well as the wage level determination and characteristics of the two emerging economies in developing countries—Latin American countries and the East Asian "Four Little Dragons"—during their take-off stages. The findings reveal that the UK maintained stable wage levels during its early take-off period, while Latin American countries showed no coordination between wage levels and economic growth during their take-off stage, whereas the East Asian "Four Little Dragons" exhibited coordination between wage levels and economic growth during their take-off period. These conclusions also hold significant implications and guidance for studying and addressing China's wage level issues during the take-off stage.
This academic monograph systematically studies the wage levels and their effects during the economic take-off stage from both theoretical and empirical perspectives, making the topic significant in both theory and reality. The monograph first provides a systematic review of wage determination theories. Then, based on empirical analysis of wage determination in the economic take-off stage of developing countries such as Latin America and East Asia, it focuses on analyzing China's wage levels and their effects after entering the economic take-off stage, particularly offering innovative insights in examining the negative impacts of low-wage systems on economic development.