The Correlation between Minimum Wage and Shadow Economies Worldwide
Worldwide, the inverse correlation between the strength of the shadow economy and the minimum wage is pretty strong. As the proportion of the shadow economy decreases, the minimum wage tends to go up.
The Correlation between Minimum Wage and Shadow Economies in Oceania
In Oceania, the inverse correlation between the strength of the shadow economy and the minimum wage is extremely strong. However, the sample size if four countries so it needs more data.
The Correlation between Minimum Wage and Shadow Economies in Africa
In Africa, the inverse correlation between the strength of the shadow economy and the minimum wage is very weak. There is no real relationship between the strength of the shadow economy and minimum wage.
The Correlation between Minimum Wage and Shadow Economies in Asia
In Asia, the inverse correlation between the strength of the shadow economy and the minimum wage is very weak. There is no real relationship between the strength of the shadow economy and minimum wage.
The Correlation between Minimum Wage and Shadow Economies in Europe
In Europe, the inverse correlation between the strength of the shadow economy and the minimum wage is very strong. As the shadow economy weakens, the minimum wage tends to be higher.
The Correlation between Minimum Wage and Shadow Economies in South America
In South America, the inverse correlation between the strength of the shadow economy and the minimum wage is pretty weak. There is no real relationship between the strength of the shadow economy and minimum wage.
The Correlation between Minimum Wage and Shadow Economies in North America
In North America, the inverse correlation between the strength of the shadow economy and the minimum wage is somewhat strong. As the proportion of the shadow economy decreases, the minimum wage tends to go up.
The Correlation between Minimum Wage and Economic Strength Worldwide
Worldwide, the correlation between economic strength and the minimum wage is pretty strong. Most countries have low minimum wages and a small per capita GDP PPP.
The Correlation between Minimum Wage and Economic Strength in Oceania
In Oceania, the correlation between economic strength and the minimum wage is extremely strong. As far as these metrics go, there's New Zealand and Australia, and then there's everyone else.
The Correlation between Minimum Wage and Economic Strength in Africa
In Africa, the correlation between economic strength and the minimum wage is pretty weak. The majority of nations on the continent have a per capita GDP PPP below 10,000 international dollars and a minimum wage below 4,000 international dollars.
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