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- Title
The generalized efficiency wage hypothesis and the scissors problem.
- Authors
Li, Dominic; Tsui, Kai Y.
- Abstract
This paper examines some positive aspects of a two-sector model of a hypothetical LDC, in which the state exercises control over the relative prices of agricultural and industrial goods, and workers behave according to the generalized efficiency wage hypothesis. It is shown that, contrary to conventional wisdom, a pro-peasant pricing policy does not necessarily lead to a decline in the state's accumulation of industrial goods; empirical evidence from China suggests that a pro-peasant pricing policy has actually been conducive to the increase of such a type of accumulation.
- Subjects
WAGES; GOVERNMENT pricing policy; AGRICULTURAL policy; DEVELOPING countries
- Publication
Canadian Journal of Economics, 1990, Vol 23, Issue 1, p144
- ISSN
0008-4085
- Publication type
Article
- DOI
10.2307/135524