International Minimum Wage and Development

The increased ability of some third world countries to produce and export manufacturing goods, combined with the liberalisation of international markets, has seen the gap between wages in the two groups of countries become more significant over time. The acceleration of the globalisation process over the last two decades, however, has led to the question of minimum wages gaining recognition as a significant international issue. This study will discuss the issue of an international minimum wage as a means for promoting international economic growth and reduction of global poverty.