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The Wage Effect of the COVID-19 Pandemic by Company Size: Evidence from Thailand

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  • Hayakawa,Kazunobu
  • Sudsawasd,Sasatra

Abstract

Large enterprises tend to perform better than small and medium-sized enterprises (SMEs) in normal times. However, this general principle may not hold true during periods of instability such as large-scale pandemics. While large companies may be able to implement a work-from-home system more flexibly, SMEs may require government support. Against this backdrop, we empirically investigate the effect of the COVID-19 pandemic on the labor market, especially wages, in Thailand. By using the individual-level quarterly data in Thailand from 2019 to 2022, we examine the differences in the wage impact of the COVID-19 pandemic according to company size. Our finding is that, as in other countries, workers in larger-sized companies had significantly higher wages. However, we also find that the COVID-19 pandemic contributed to reducing the wage gap across company sizes on average, especially in the manufacturing sector.

Suggested Citation

  • Hayakawa,Kazunobu & Sudsawasd,Sasatra, 2024. "The Wage Effect of the COVID-19 Pandemic by Company Size: Evidence from Thailand," IDE Discussion Papers 945, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    • Handle: RePEc:jet:dpaper:dpaper945
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    File URL: https://ir.ide.go.jp/record/2001136/files/IDP000945_001.pdf
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    References listed on IDEAS

    as
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    2. Huayu Shen & Mengyao Fu & Hongyu Pan & Zhongfu Yu & Yongquan Chen, 2020. "The Impact of the COVID-19 Pandemic on Firm Performance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2213-2230, August.
    3. Juarez, Laura & Villaseñor, Paula, 2024. "Effects of the Covid-19 pandemic on the labor market outcomes of women with children in Mexico," LSE Research Online Documents on Economics 122534, London School of Economics and Political Science, LSE Library.
    4. Alessandra Casarico & Salvatore Lattanzio, 2022. "The heterogeneous effects of COVID-19 on labor market flows: evidence from administrative data," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 20(3), pages 537-558, September.
    5. Huayu Shen & Mengyao Fu & Hongyu Pan & Zhongfu Yu & Yongquan Chen, 2020. "The Impact of the COVID-19 Pandemic on Firm Performance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2213-2230, August.
    6. Nalitra Thaiprasert & Supanika Leurcharusmee & Peerapat Jatukannyaprateep & Jirakom Sirisrisakulchai, 2020. "Determinants of Labor Force Participation and Wages in Thailand: What is the Role of the Informal Sector?," Asian Economic Journal, East Asian Economic Association, vol. 34(3), pages 301-326, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Covid-19|wages|Thailand;

    JEL classification:

    • I14 - Health, Education, and Welfare - - Health - - - Health and Inequality
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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