An empirical proposal on power, knowledge and truth of correlations among the minimum wage, foreign direct investment in the industrial sector and export
| Autor: | Kittisak Jermsittiparsert, Thanaporn Sriyakul, Chayongkan Pamornmast |
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| Rok vydání: | 2012 |
| Předmět: | |
| Zdroj: | Social and Management Research Journal. 9:21 |
| ISSN: | 0128-1089 1675-7017 |
| DOI: | 10.24191/smrj.v9i1.5210 |
| Popis: | This research has an objective to demonstrate the correlations among the minimum wage, foreign direct investment in the industrial sector, and export, which has been criticized severely by the authorities, especially since the Pua Thai Party’s policy announcement on the guarantee of labors’ minimum wage at 300 baht per day. The research employs an advanced quantitative methodology, analyzing time-series data of the minimum wage, foreign direct investment in the industrial sector, and export by regression, the Johansen Cointegration Test, and the Pairwise Granger Causality Test. The regression analysis reveals that the minimum wage correlates in the same direction with both foreign direct investment in the industrial sector and export, whereas when applied the Johansen Cointegration Test, the minimum wage has no cointegration with foreign direct investment in the industrial sector but has a causal relationship with export according to the Pairwise Granger Causality Test.This indicates that the claim that the minimum wage increase will affect the competitiveness of the country with regard to foreign direct investment in the industrial sector and export, has been reinforced by the authorities using their superior status to dominate the process of building a body of knowledge as well as to distort the truth so as to possess a control over the society. This is thus not a good-faith mistake but an effort of discourse fights on the economic unfairness and social-class discrimination, which is the root of Thailand’s important structural problems. |
| Databáze: | OpenAIRE |
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