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교육비 지출이 가계저축률에 미치는 영향

Expenditures on Education and Household Saving Ratio

박강우|임현준
한국은행|2012.09|경제분석 (Economic Analysis)|제18권 제3호|pp. 115-155|DOI 10.23299/bokeri.2012.18.3.004

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참고문헌

키워드

가계저축률교육프리미엄교육비 상대가격Education PremiumRelative Price of EducationHousehold Saving Ratio
주제분류경제학

초록

최근 들어 교육비 지출이 인적자본축적을 통한 경제성장뿐만 아니라 가계의 소비 및 저축 행태를 결정하는 데 중요한 요인으로 인식되고 있다. 실제로 1980년대 이후 가계소비에서 차지하는 교육비 지출의 비중이 증가세를 지속하는 가운데 가계 저축률이 하락 추세로 전환하는 양상을 나타내고 있다. 본고는 1980년대 후반 이후 우리나라 가계 저축률의 지속적인 하락 요인으로서 기존에 제기되어 온 원인 이외에 가계의 교육비지출 결정에 영향을 미치는 교육프리미엄과 교육비용의 변동이 가계소비 및 저축에 어떤 영향을 미쳤는지에 관하여 이론적, 실증적 분석을 시도하였다. 충격반응과 모의실험(simulation)을 통한 이론분석 결과, 교육투자의 효율성 증가에 따른 임금프리미엄 확대 및 교육비용의 상승은 저축률에 음(-)의 방향으로 영향을 미치며 그 크기도 상당한 것으로 나타났다. 아울러 『노동패널조사(KLIPS)』 자료를 이용한 패널 실증분석에서도 교육프리미엄 확대와 교육비 상대가격 상승에 따른 교육비지출의 확대가 가계 저축률 하락에 유의한 영향을 미쳤음을 확인할 수 있었다.

Abstract

It has been widely acknowledged that expenditures on education play very important roles in households’ savings and consumption, not to mention of its roles in stimulating economic growth through human capital accumulation. Interestingly, household savings ratio in Korea turned downward almost simultaneously with the education spending as the percentage of households’ consumption persistently on the rise. In Korea, education cost and the amount of benefits from education investment have been considered affecting households’ decision on education spending. Hence, this paper attempts to undertake a theoretic and empirical analysis of how changes in such factors would influence household consumption and saving. A historical simulation of the neoclassical growth model, which is mainly driven by shocks to the efficiency and the cost of human capital investment, reveals that increases in education premium and education cost have reduced household savings ratio to a considerable extent. Likewise, panel regression employing KLIPS data supports the result of the simulation analysis.

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