An Empirical Study about the Marketization Degree of Labor Market from the Perspective of Wage Determination Mechanism

Abstract : Ten years ago, economists had raised the issue of whether economic freedom can be measured, and there are a large number of domestic and foreign institutions and individuals had researched the measure of marketization degree, but it is few to measure the market degree of the labor market from the perspective of wage determination mechanism. This article attempts to investigate by using the stochastic frontier method of wage determination mechanisms from the micro-perspective, and measure the marketization degree of labor market, but also examine China’s labor market and wage reform process, understand and grasp the labor market. At the same time, the research result will feedback the effect of labor market reform and promote the reform of labor market.