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Table 11 Effect of the minimum wage on log wage gap, sub-sample private employees age 25–54 in small and medium firms outside the agricultural sector in 32 provinces (1994 – 2010)1

From: Does the minimum wage reduce wage inequality? Evidence from Thailand

Percentile OLS 2SLS Predicted median
  (1) (2) (1) (2) (1) (2)
5 0.364*** 0.426*** 8.731 –0.073 –0.163 –0.056
  (0.108) (0.118) (7.926) (1.707) (0.5) (1.332)
10 0.432*** 0.496*** 5.429 –0.956 –0.182 –0.702
  (0.102) (0.101) (5.202) (1.576) (0.339) (1.067)
20 0.449*** 0.5*** 0.835 –0.045 0 –0.025
  (0.064) (0.062) (1.657) (0.738) (0.201) (0.573)
25 0.468*** 0.523*** –0.117 –0.438 –0.049 –0.315
  (0.054) (0.054) (1.251) (0.798) (0.182) (0.531)
30 0.406*** 0.454*** –0.625 –0.221 –0.031 –0.167
  (0.044) (0.044) (1.008) (0.542) (0.151) (0.384)
40 0.298*** 0.328*** –0.555 –0.124 0.028 –0.088
  (0.035) (0.038) (0.667) (0.428) (0.105) (0.323)
75 0.116*** 0.115** 0.058 0.848 0.171** 0.627**
  (0.04) (0.046) (0.402) (0.585) (0.071) (0.308)
90 0.176** 0.172* 1.086 0.672 0.243 0.478
  (0.089) (0.09) (1.412) (0.819) (0.221) (0.516)
95 0.128 0.097 2.782 1.015 0.441 0.742
  (0.108) (0.104) (2.716) (1.117) (0.298) (0.68)
F-test (weak IV)    0.828 2.362   
Year dummy Yes Yes Yes Yes Yes Yes
Province dummy Yes Yes Yes Yes Yes Yes
Provincial trend No Yes No Yes No Yes
  1. Note: Standard errors are in parentheses while ***, ** and * indicate significant at 1%, 5% and 10% level respectively. 1This sample does not include both quarters of 2001 due to a change in definition of a variable “firm size” in that year