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The wage premium and market structure: The case of South Korea and Taiwan

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  • The wage premium and market structure: The case of South Korea and Taiwan
  • Yen, Meng-Feng
  • The Ohio State University


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Title The wage premium and market structure: The case of South Korea and Taiwan
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Material Type Reports
Author(English)

Yen, Meng-Feng

Publisher

[Columbus, U.S.] : The Ohio State University

Date 2013-08
Pages 30
Subject Country South Korea(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Subject Social Development < Employment
Holding IDEAS
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Abstract

We seek to understand why the difference between wages earned by skilled and unskilled labor, the so-called “wage premium”, varies across developing countries, using South Korea and Taiwan as empirical case studies. South Korea and Taiwan are both small developing countries with export-led economies that enjoy relatively high incomes compared to their Asian counterparts (excluding Japan). Between 1990 and 2000, Taiwan experienced a decrease in the wage premium, while South Korea remained the same wage premium. In particular, during that period, the wage premium fell from 67% to 25% in Taiwan, but remains around 44% in South Korea (Helms et al, 1999; Choi and Jeong, 2005); the trend continued through 2012 according statistics published by South Korean and Taiwanese Ministries of Labor. The existing academic literature offers several theories of how wage premia are determined. (The rest omitted)

User Note

Selected Paper prepared for presentation at the Agricultural & Applied Economics Association's 2013
AAEA & CAES Joint Annual Meeting, Washington, DC, August 4-6, 2013