A Study on Minimum Wage Comparisons in the World, Especially in Developing Countries

The impact of the minimum wage on labor and goods markets continues to be a topic of constant interest to economists and policymakers and supplies fertile ground for academic research. More than nine hundred studies on the minimum wage were published between 2000 and 2020, and the number of these studies has increased since then. In contrast to earlier research on the minimum wage, which was mostly conducted using univariate time-series techniques, the current empirical work is notable for its wide variety of methodologies, data sources, and measurement standards. When the "New Minimum Wage Survey" (NMWR) was launched in the early 1990s, the problem of deciding the effects of the minimum wage resulted in the development of new methods. Methods such as panel data analysis and quasi-experiments are included in this category. More recently, the use of synthetic control methods has entered this literature. (“What Does the Minimum Wage Do in Developing Countries? A Review of ...”) (“What Does the Minimum Wage Do in Developing Countries? A Review of ...”) There has also been an expansion in the types of outcomes considered in the minimum wage study. While the employment implications of the minimum wage remain the focus of contemporary research, there has been an increasing emphasis on other employmentrelated effects. These include hours worked, attendances and departures, unemployment and vacancies, the impact on working in a second job or a part-time job, as well as the division of labor between the formal and informal sectors. There is also a greater focus on effects on wages and earnings, with special emphasis on distinguishing between effects on workers who should earn the minimum wage and spillover effects on workers who previously earned more. More than the new minimum wage Some research has been done on the effects of increased business volume as well as health care and receiving a pension, looking at the effects of the minimum wage on schooling and education, as well as on family income. In addition, studies have been conducted examining the effects of the minimum wage on the receipt of health and pensions