The Correlation between Minimum Wage and Economic Strength in Asia

Sep 7, 2017
Scatter plot of shadow economies and GDP

In Asia, the correlation between economic strength and the minimum wage is somewhat strong.  The majority of nations on the continent have a per capita GDP PPP below 30,000 international dollars and a minimum wage below 10,000 international dollars.  The only countries that surpass both of these numbers are Kuwait, Oman, Japan, South Korea, Israel, and Turkey.

The Correlation between Minimum Wage and Economic Strength in Europe

Sep 6, 2017
Scatter plot of shadow economies and GDP

In Europe, the correlation between economic strength and the minimum wage is pretty strong.  Just like with the shadow economy data, minimum wage tends to be similar to geographically proximate countries.

The Correlation between Minimum Wage and Economic Strength in South America

Sep 5, 2017
Scatter plot of shadow economies and GDP

In South America, the correlation between economic strength and minimum wage is very weak.  Every country studied on the continent - excluding Guyana - has an annual minimum wage of at least 5,000 international dollars.

The Correlation between Minimum Wage and Economic Strength in North America

Sep 4, 2017
Scatter plot of shadow economies and GDP

In North America, the correlation between economic strength and minimum wage is strong.  Only two countries on the continent have an annual minimum wage of over 15,000 international dollars, Canada and the United States.  All other countries' annual minimum wage is below 9,000 international dollars.

The Correlation between Shadow Economies and Economic Strength Worldwide

Aug 31, 2017
Scatter plot of shadow economies and GDP

The correlation between economic strength and the strength of the shadow economy is moderate.  Europe and Asia have the countries with the highest per capita GDP PPP while all continents except for Oceania have nations whose shadow economies make up more than half of their overall economies.

The Correlation between Shadow Economies and Economic Strength in Oceania

Aug 30, 2017
Scatter plot of shadow economies and GDP

In Oceania, the correlation between economic strength and the strength of the shadow economy is pretty strong.  Every country studied on the continent - excluding Papua New Guinea - has a shadow economy that takes up at most one-third of its overall economy.

The Correlation between Shadow Economies and Economic Strength in Africa

Aug 29, 2017
Scatter plot of shadow economies and GDP

In Africa, the correlation between economic strength and the strength of the shadow economy is pretty strong.  Crime certainly doesn't pay, it seems.

The Correlation between Shadow Economies and Economic Strength in Asia

Aug 28, 2017
Scatter plot of shadow economies and GDP

In Asia, the correlation between economic strength and the strength of the shadow economy is pretty weak.  Every country studied on the continent - excluding Thailand and Georgia - has a shadow economy that takes up at most one-half of its overall economy.

The Correlation between Shadow Economies and Economic Strength in Europe

Aug 25, 2017
Scatter plot of shadow economies and GDP

In Europe, the correlation between economic strength and the strength of the shadow economy is pretty strong.  Every country studied on the continent - excluding Albania, Bulgaria, and Ukraine - has a shadow economy that takes up at most one-third of its overall economy.

The Correlation between Shadow Economies and Economic Strength in South America

Aug 24, 2017
Scatter plot of shadow economies and GDP

In South America, the correlation between economic strength and the strength of the shadow economy is pretty weak.  Every country studied on the continent, excluding Chile, has a shadow economy that takes up at least one-fifth of its overall economy.


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