[논문]Does Learning Matter for Wages in Korea? International Comparison of Wage Returns to Adult Education and Training

PARK, YOONSOO

doi:10.23895/kdijep.2022.44.2.29

Does Learning Matter for Wages in Korea? International Comparison of Wage Returns to Adult Education and Training 원문보기

KDI journal of economic policy, v.44 no.2, 2022년, pp.29 - 44

PARK, YOONSOO (Department of Economics, Sookmyung Women's University)

Abstract ▼ AI-Helper

This study compares the wage equation in Korea to those in other countries, focusing on the wage returns to adult education and training (AET) participation. It is found that the wage compensation structure in Korea is associated mainly with job characteristics such as tenure and workplace size rather than with worker characteristics such as AET participation and cognitive abilities. It is also found that Korea's AET participation is skewed toward non-job-related AET, relative to the situations in other countries. These findings imply that the link between a worker's productivity and wage should be strengthened in order to incentivize workers to invest in AET relevant to the labor market.

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표/그림 (7)

표 TABLE 1-SUMMARY STATISTICS
표 TABLE 2-ADULT EDUCATION AND TRAINING (AET) PARTICIPATION RATE
그림 FIGURE 1. DISTRIBUTION OF WAGE RETURNS TO AET PARTICIPATION ACROSS 33 COUNTRIES Note: The wage return estimate in Korea (0.114) is indicated by the vertical line. Source: Data from the OECD Survey of Adult Skills.
표 TABLE 3-WAGE RETURNS TO AET PARTICIPATION
표 TABLE 4-WAGE RETURNS TO AET PARTICIPATION BY JOB RELEVANCE
그림 FIGURE 2. DISTRIBUTION OF ADDITIONAL WAGE RETURNS TO JOB-RELATED AET PARTICIPATION OVER NON-JOB-RELATED AET PARTICIPATION ACROSS 33 COUNTRIES Note: The additional wage return estimate in Korea (-0.006) is indicated by the vertical line. Source: Data from the OECD Survey of Adult Skills.
표 TABLE 5-DETERMINANTS OF AET PARTICIPATION

참고문헌 (7)

Hanushek, Eric. A., Schwerdt, Guido, Wiederhold, Simon., and Woessmann, Ludger. 2015. "Returns to Skills around the World: Evidence from PIAAC," European Economic Review, 73: 103-130.

상세보기
Kim, Jinyoung. 2019. "International Comparison and Implications of Adult Skills and Wage Returns," Financial Forum, 272: 28-52 (in Korean).
Park, Yoonsoo. 2019. "Lifelong Learning: Current State and the Fiscal Implications," in Yong-Seong Kim et al., A New Direction in Korea's Service Industries and Job Creation, Chapter 3, Research Monograph 2019-07, Korea Development Institute: 124-149 (in Korean).
Park, Yoonsoo. 2021. "International Comparison of Lifelong Learning Status and Wage Returns," in Chulhee Lee et al., The Post CVOID-19 Labor Market, Chapter 3, Financial Expert Network Job Economy Report, Korea Institute of Public Finance: 108-137 (in Korean).
Lee, Ju-Ho, Jin Park, MyungJae Moon, Jieun Chung, and Joonghee Choi. 2015. "Skills and Wages of Public Employees: Investigating Korean Bureaucracy through PIAAC," in Ju-Ho Lee and Seulki Choi (eds.) Skills of Koreans: Empirical Analysis and Future Strategies, Chapter 2, Research Monograph 2015-08, Korea Development Institute: 75-11. (in Korean).
OECD. 2019. Individual Learning Accounts: Panacea or Pandora's Box?, OECD Publishing, Paris (https://doi.org/10.1787/203b21a8-en).
OECD. 2021. OECD Skills Outlook 2021: Learning for Life, OECD Publishing, Paris (https://doi.org/10.1787/0ae365b4-en).

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