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http://dx.doi.org/10.17703/IJACT.2022.10.3.25

The relation between occupational accidents and economic growth: Evidence from Korea  

Lee, Jaehee (Korea Institute of Child Care and Education)
Choi, Clara Jungwon (Faculty, University of Auckland)
Lim, Jin-Seok (Korea Occupational Safety and Health Agency)
Park, Jinbaek (Korea Research Institute for Human Settlements)
Publication Information
International Journal of Advanced Culture Technology / v.10, no.3, 2022 , pp. 25-32 More about this Journal
Abstract
This study analyzes the impact of occupational accidents on economic growth and labor productivty losses in Korea between January 2008 and July 2018, using the Vector Error-Correction Model (VECM). According to the analysis, the occurrence of occupational accidents was revealed to reduce the number of employed workers and also hinder economic growth. This can be reinterpreted as the reduction of occupational accidents does not cause labor losses in the industry, rather may induce economic growth. Also, the findings discovered that an increase in the number of workers may lead to increase in the probability of occupational accidents in the short term. This suggests that greater number of work-related accidents may occur during the early stages- due to new employees' lack of knowledge related to safety at workplace.
Keywords
Occupational Accidents; Economic Growth; Vector Error-Correction Model(VECM);
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
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