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http://dx.doi.org/10.14400/JDC.2020.18.5.025

The Effect of Workforce Aging on Human Capital Job and Regional Economic Performance in Korea: focusing on Metro Cities and Provinces  

Lee, Seong-Hoon (Department of Economics and Statistics, Korea University)
Lee, Hyangsoo (College of Humanities and Social Sciences, Konkuk University)
Jung, Yonghun (Department of Economics and Statistics, Korea University)
Publication Information
Journal of Digital Convergence / v.18, no.5, 2020 , pp. 25-31 More about this Journal
Abstract
This study analyzes the effects of aging workforce on human capital and the per capita gross regional domestic product, using regional panel statistics from 1995 to 2017. According to the results of the two-stage least-squares panel regression analysis reflecting the fixed effects by region, the aging of the labor force had no effect on the human capital employment ratio and per capita gross domestic product in the metropolitan cities, but reduced human capital and per capita gross domestic product in the provinces. The share of service businesses had a positive effect on human capital in metropolitan cities, but the effect was not significant in the provinces. Human capital significantly contributed to the increase in per capita gross regional domestic product in the metropolitan cities, but the physical capital stock significantly contributed to the increase in per capita gross regional domestic product in the provinces. The results of this study suggest that the human capital job policy and the per capita regional GDP growth policy due to the aging workforce may be different between metropolitan cities and provinces.
Keywords
Ageing; Human capital; Per capita GRDP; Regional economy; Panel analysis;
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Times Cited By KSCI : 12  (Citation Analysis)
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