2011•Zhongyang Caizheng Jinrong Xueyuan xuebaoRequires access

The Research of the Minimum Wage's Poverty Effect in the Monopsony Labor Market:An Example of Rural China

Luo Xiao-la

Abstract

Monopsony labor market is the background of the minimum wage system in China.The analysis shows that the minimum wage can reduce the poverty rate,while this kind of poverty reduction can not persist be-cause the minimum wage is too low.In addition,relationship between the minimum wage and the rural poverty is U-shaped curve,after a turning point,the minimum wage has a negative effect over the rural poverty.

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Key concepts: Monopsony, Minimum wage, Poverty, Economics, China, Labour economics, Wage, Point (geometry)