Empirical Research, The Minimum Wage On Employment, Productivity, Export Impact

Wages is the major issues to people's life, and the most fundamental purpose of working is to gain money. The minimum wage system means the bottom line of the payment which required by the government. Now more than 90% of the countries have already established the system. As historical reasons, the implementation of China was much later than other countries. The labor law included the item in 1994 and the legal form of minimum wage standards was not introduced until 2004 which had required much improvement in its coverage, form, supervision and the frequency of adjustment, etc.The new minimum wage standards was promulgated in 2004.In order to study on the execution of minimum wage standards, its affection on employment, enterprise productivity and export, we searched the data of minimum wage standards from government website, combining with he industrial statistic database (data of 2004 is from economic census database), we make up a panel database witch is the base of our study. The main research methods are secondary data analysis and event study. Based on the fixed-effect model, we do correlation analysis, multiple regression analysis and matched samples T test analysis, and the results come out like this: the execution of minimum wage standards is significant improved than the year before 2004; the execution of minimum wage standards has positive impact on employment; the execution of minimum wage standards has positive impact on productivity; the productivity of enterprises which carry out the minimum wage standards has significant improved, and the improvement of enterprises which don't carry out the standards is less significant; the execution of minimum wage standards has positive impact on export through the intermediary variable named employment, but it doesn't take a completely effect; the export of enterprises which carry out the minimum wage standards has significant improved, and the improvement of enterprises which don't carry out the standards is less significant. So, the main conclusions of this paper are as follows, the execution of minimum wage standards have positive effect on employment, productivity and export. The perspective of this paper is new as it take advantage of micro enterprise level, what's more, we used a high quality panel data.