Objectives of Wage Policy in Developing Countries
The number of less-developed countries is large and their economic structure is heterogeneous. General statements cannot be valid equally for all countries. It is necessary therefore to define the kind of economy under consideration.
KeywordsLabour Force Real Wage Wage Differential Wage Premium Wage Structure
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- 1.For convincing evidence of the historical importance of custom as a wage regulator, see E. H. Phelps Brown, The Economics of Labor (New Haven, Connecticut 1962) ch. 5.Google Scholar