최저 임금이 도시 실업률에 미치는 영향 - 중국 주 삼각지역을 중심으로 - = The Impact of the Minimum Wage on the Urban Unemployment Rate - Take the China Pearl River Delta as an Example -

다국어 초록 (Multilingual Abstract)

This paper explores the impact of minimum wage standards on unemployment rates in nine cities in China Pearl River Delta based on data from the China Urban Statistical Yearbook and the Bureau of Human Resources and Social Security's website from 2000 to 2020. The study shows that first, minimum wage's increase reduces urban unemployment rate. Second, from the perspective of heterogeneity, raising the minimum wage decreases state-owned collective employment rate and increases private sector employment rate; raising the minimum wage decreases urban unemployment rate in different economic development level cities; after the economic crisis in 2008, raising the minimum wage decreases the urban unemployment rate.
Third, through the systematic GMM and differential GMM robustness tests, this paper concludes that the minimum wage is negatively related to the urban unemployment rate. By testing the impact mechanism, the minimum wage’s increase reduces the urban unemployment rate through the urban innovation effect and cost effect.