Table 6 The determinants of minimum wages in 2003 and 2009, OLS

Ln(GDP per capita)

0.109^b

0.0494^b

0.0818^a

0.0230

0.115^c

0.0502^b

0.0802^b

0.0307

(0.0409)

(0.0209)

(0.0479)

(0.0239)

(0.0287)

(0.0183)

(0.0297)

(0.0217)

Employment rate

−0.484^a

−0.203

−0.612^a

−0.141

0.0778

0.140

0.193

0.167

(0.274)

(0.169)

(0.318)

(0.124)

(0.177)

(0.0876)

(0.199)

(0.142)

GDP growth rate

−0.448

−0.232^a

−0.260

−0.00420

−0.666^c

−0.221^c

−0.570^b

−0.318^a

(0.322)

(0.129)

(0.352)

(0.133)

(0.197)

(0.0708)

(0.220)

(0.183)

Tertiary sector share

0.0458

−0.00792

0.0403

−0.0464

0.367^c

0.155^c

0.324^b

0.0729

(0.0981)

(0.0582)

(0.135)

(0.0486)

(0.0948)

(0.0558)

(0.126)

(0.105)

Private employment share

−0.104

0.0834

−0.260

−0.209^b

−0.278^b

−0.0547

−0.134

0.0402

(0.272)

(0.132)

(0.341)

(0.0867)

(0.109)

(0.0688)

(0.135)

(0.0923)

FDI share in GDP

0.524

0.656^c

0.330

0.700^c

−0.266

0.113

−0.818^a

−0.0560

(0.387)

(0.206)

(0.415)

(0.234)

(0.383)

(0.205)

(0.415)

(0.327)

Fiscal expenditure/GDP

−0.197

−0.154

0.349

0.133

−0.0715

−0.0678

0.130

0.0892

(0.314)

(0.144)

(0.313)

(0.114)

(0.104)

(0.0940)

(0.0990)

(0.0873)

Service sector/GDP

0.612

0.811

−0.500

0.737

0.599

−0.362

−0.501

−0.768

(2.133)

(0.809)

(2.090)

(0.597)

(0.806)

(0.799)

(1.350)

(1.056)

Per capita number of enterprises

0.0109

0.00512

0.00890

0.00940^b

0.0101^c

0.00331^b

0.0108^b

0.00490^a

(0.00869)

(0.00405)

(0.00884)

(0.00454)

(0.00345)

(0.00142)

(0.00391)

(0.00264)

Ln(consumption per capita)_rural

0.0135

−0.00786

0.119^b

0.103^b

0.00467

0.0415

0.100^a

0.0944^b

(0.0429)

(0.0303)

(0.0519)

(0.0437)

(0.0428)

(0.0248)

(0.0529)

(0.0381)

Ln(consumption per capita)_urban

0.245^b

0.192^c

0.293^b

0.0563

0.110

0.157^c

0.0690

0.0572

(0.109)

(0.0602)

(0.124)

(0.0607)

(0.0736)

(0.0381)

(0.0869)

(0.0488)

Province dummies

No

Yes

No

Yes

No

Yes

No

Yes

N

240

240

240

240

262

262

262

262

Adj. R ²

0.513

0.881

0.479

0.899

0.591

0.853

0.460

0.763