Salario eficiente y crecimiento económico para el caso de América Latina (Efficient Salary and Economic Growth for the case of Latin America)

Authors

  • Tomás Gómez Rodríguez Universidad Autónoma del Estado de Hidalgo
  • Humberto Ríos Bolívar Instituto Politécnico Nacional
  • Ali Aali Bujari Universidad Autónoma del Estado de Hidalgo

DOI:

https://doi.org/10.29105/ensayos37.2-4

Keywords:

Crecimiento Económico, Salarios Eficientes, Eficiencia Técnica

Abstract

En la actualidad, la investigación sobre el salario eficiente ha llamado la atención acerca de la posibilidad de que incrementos salariales puedan aumentar la productividad y, por lo tanto, el crecimiento económico de un país. Por otro lado, se plantea la hipótesis de que el desempleo y la inflación sean variables que aumentan la ineficiencia. Para estudiar estos posibles resultados, se utiliza un enfoque de frontera de producción estocástica para panel de datos, en un período que abarca del año 1995 al año 2011. Los países considerados en el estudio son: Argentina, Brasil, Colombia, Chile, México, Perú y Venezuela. Se encuentra evidencia de que existe una relación positiva entre aumento salarial y crecimiento económico. Así mismo, los resultados muestran que el desempleo y la inflación son variables que aumentan los efectos de ineficiencia.

 

ABSTRACT

At present, efficiency wage research has drawn attention to the possibility that wage increases can boost productivity and thus the economic growth of a country. On the other hand, the possibility is suggested that the negative effects of wage increase, specifically unemployment and inflation, will have a positive effect on inefficiency. In order to study these possible results, a stochastic production frontier approach is used for panel data in a period ranging from 1995 to 2011. The countries considered in the study are: Argentina, Brazil, Colombia, Chile, Mexico, Peru and Venezuela. There is evidence that there is a positive relationship between wage increase and economic growth. The results also show that unemployment and inflation have a positive effect on inefficiency.

 

Downloads

Download data is not yet available.

Author Biographies

Tomás Gómez Rodríguez, Universidad Autónoma del Estado de Hidalgo

Profesor-Investigador titular “A”

Humberto Ríos Bolívar, Instituto Politécnico Nacional

Profesor-Investigador titular “C”

Ali Aali Bujari, Universidad Autónoma del Estado de Hidalgo

Profesor-Investigador titular “B”

References

Askenazy, P. (2003). “Minimum wage, exports and growth.” European Economic Review, 47(1), 147–164.

Battese, G., y Coelli, T, (1988). “Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data.” Journal of Econometrics, 38 (3), 387-399.

Battese, G., y Coelli, T. (1993). “A Stochastic Frontier Production Function incorporating a model for technical inefficiency effects.” Working Paper in Econometrics and Applied Statistics 69/93.

Battese, G. y Coelli, T. (1995). “A model for technical inefficiency effects in a stochastic frontier production function for panel data.” Empirical Economics, 20(2), 325–332.

Cahuc, P. y Michel, P. (1996). “Minimum wage unemployment and growth.” European Economic Review, 40 (7), 1463-1482.

Choi, H. (1995). “Goodwin's growth cycle and the efficiency wage hypothesis.” Journal of Economic Behavior and Organization, 27(2), 223-235.

Coelli, T.J. (1996). “A Guide to FRONTIER Version 4.1: A Computer Program for Stochastic Frontier Production and Cost Function Estimation”. CEPA Working Paper.

Cohn, A., Fehr, E., Herrmann, B., y Schneider, F. (2014). “Social comparison and effort provision: evidence from a field experiment.” Journal of the European Economic Association, 12(4), 877–898.

Fanti, L. y Gori, L., (2011). “On economic growth and minimum wages.” Journal of Economics, 103(1), pp.59–82.

Feldstein, M. (2008). “Did wages reflect growth in productivity?” Journal of policy modeling, 30(4), 591-594.

Feenstra, R., Inklaar, R., y Timmer, M. (2015). “The Next Generation of the Penn World Table.” American Economic Review, 105 (10), 3150-3182,

Ferdushi, K., Baten, A., Kamil, A., y Mustafa, A. (2011). “Wage augmented stochastic frontier model with truncated normal distribution.” International Journal of Physical Sciences, 6(14), 3288-3295.

Gerhards, L., y Heinz, M. (2017). “In good times and bad – Reciprocal behavior at the workplace in times of economic crises.” Journal of Economic Behavior and Organization. 134, 228-239.

Goodwin, R.M. (1967). A Growth Cycle. Feinstein, C.H. (Ed.), Socialism, Capitalism and Economic Growth (pp. 54-58). Cambridge: Cambridge University Press.

Huang, T. L., Hallam, A., Orazem, P. F., y Paterno, E. M. (1998). “Empirical Tests of Efficiency Wage Models.” Economica, 65(257), 125–143.

Iheanacho, E. (2017). “Emperical Review on the Relationship between Real Wages, Inflation and Labour Productivity in Nigeria. ARDL bounds testing approach.” International Economics and Business, 3(1).

ILO (2012) Global Wage Report 2012/13: Wages and Equitable Growth. Available in: www.ilo.org

Karim, Z., Chan, S. G. y Hassan, S. (2016). “Minimum Wage Policy and Country’s Technical Efficiency.” International Journal of Economics and Financial Issues, 6(4), 1729-1735.

Kodde, D. A., y Palm, F. C. (1986). “Wald Criteria for Jointly Testing Equality and Inequality Restrictions”. Econometrica, 54(5), 1243.

Kumar, S., Webber, D. J., y Perry, G. (2012). “Real wages, inflation and labour productivity in Australia.” Applied Economics, 44(23), 2945–2954.

Kumbhakar, S. y Lovell, C. A. (2000), Stochastic Frontier Analysis, Inglaterra, Cambridge University Press.

Levine, D. (1992). “Can Wage Increases Pay For Themselves? Tests with a Productive Function.” The Economic Journal, 102 (414), 1102-1115.

Lucas, R. (1988). “On the mechanics of economic development.” Journal of Monetary Economics, 22 (1), 3-42

Meckl, J. (2001). “Efficiency-wage Unemployment and Economic Welfare in a Model of Endogenous Growth.” Labour, 15(4), 579–602.

Mertzanis, H. (2009). "Efficiency Wages, Inflation And Growth." Journal of Economic Development, 34(2), 131-151.

Rana, M., Baten, A. y Kamil, A. (2010). “A stochastic frontier approach for empirical tests of efficiency wage models.” Scientific Research and Essays, 5(11), 1234-1242.

Ravn, M. y Sorensen, J. (1999). “Schooling, Training, Growth and Minimum Wages.” Scandinavian Journal of Economics, 101, 441–457.

Razzak, W. A. (2015). “Wage, productivity and unemployment: microeconomics theory and macroeconomics data.” Applied Economics, 47(58), 6284–6300.

Romer, P. M. (1986). “Increasing Returns and Long-Run Growth.” Journal of Political Economy, 94(5), 1002–1037.

Sabia, J., (2015). “Do minimum wages stimulate productivity and growth?”. IZA World of Labor, 221.

Shapiro, C., y Stiglitz, J. (1984). “Equilibrium Unemployment as a Worker Discipline Device.” American Economic Review, 74 (3), 433-444.

Solow, R. (1979). “Another possible source of wage stickiness.” Journal of Macroeconomics, 1 (1), 79-82.

Stigler, G. (1946). “The Economics of Minimum Wage Legislation.” The American Economic Review, 36(3), 358-365.

Tadjoeddin, M. (2016). “Productivity, wages and employment: evidence from the Indonesia's manufacturing sector.” Journal of the Asia Pacific Economy, 21 (4), 489-512.

Tang, C. F. (2014). “The effect of real wages and inflation on labour productivity in Malaysia.” International Review of Applied Economics, 28(3), 311–322.

Taymaz, E., y Saatci, G. (1997) “Technical Change and Efficiency in Turkish Manufacturing Industries.” Journal of Productivity Analysis, 8 (4), 461-475.

Wang, H., y Schmidt, P. (2002) “One-Step and Two-Step Estimation of the Effects of Exogenous Variables on Technical Efficiency Levels”. Journal of Productivity Analysis, 18 (2), 129-144.

Wadhwani, S. y Wall, M. (1991). “A Direct Test of the Efficiency Wage Model Using UK Micro-data”. Oxford Economic Papers, 43 (4), 529-548.

Weiss, A. (1990). Efficiency Wages. doi:10.1515/9781400862061

Xu, S., Huo, L., y Shang, W. (2015). “The Impact of Wage Distributions on Economics Growth Based on Multi-agent Simulation”. Procedia Computer Science, 55, 809–817.

Yamaguchi, M. (2017). "Stagnation and minimum wage: Optimal minimum wage policy in macroeconomics". MPRA Paper

Yildirim, Z. (2015). “Relationships among labour productivity, real wages and inflation in Turkey”. Economic Research-Ekonomska Istraživanja, 28(1), 85–103.

Zagler, M. (2011). “Endogenous Growth, Efficiency Wages, and Persistent Unemployment.” Review of Economics & Finance, 1, 34-42.

Published

2018-10-31

How to Cite

Gómez Rodríguez, T., Ríos Bolívar, H., & Aali Bujari, A. (2018). Salario eficiente y crecimiento económico para el caso de América Latina (Efficient Salary and Economic Growth for the case of Latin America). Ensayos Revista De Economía, 37(2), 213–235. https://doi.org/10.29105/ensayos37.2-4

Most read articles by the same author(s)

Similar Articles

<< < 1 2 3 4 5 6 7 8 9 > >> 

You may also start an advanced similarity search for this article.