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규제가 노동생산성에 미치는 영향:한국의 산업패널 자료를 이용한 실증분석

Effect of Regulation on Labor Productivity: Empirical Analysis Using a Panel of Korean Industries

최종일|이동렬|이종한
한국응용경제학회|2016.06|응용경제 (Korea Review of Applied Economics)|제18권 제2호|pp. 167-202

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참고문헌

키워드

노동생산성Labor productivity규제지수규제의 효과패널공적분 검정패널공적분 벡터Regulatory stringency indexEffect of regulationPanel cointegration testPanel cointegration vector
주제분류경제학

초록

본 연구는 한국의 산업별 규제지수를 이용하여 패널공적분 검정과 패널공적분 벡터 추정을 통해 규제가 산업별 노동생산성에 미치는 장기적 영향을 분석하였다. 패널공적분 검정에서는 산업별 노동생산성이 1인당 자본스톡, 1인당 연구개발자본스톡 및 규제지수와 장기적으로 안정적인 관계를 갖는 것으로 나타났다. 한편 규제와 노동생산성간 장기균형 관계에 대한 패널공적분 벡터를 추정한 결과, 경제규제지수는 장기적으로 노동생산성에 부정적인 영향을 미치지만 사회규제지수는 노동생산성에 유의한 영향을 미치지 못하는 것으로 분석되었다. 이는 사회적 규제보다 경제적 규제의 완화가 노동생산성 향상에 효과적일 수 있으므로 규제정책의 우선순위를 경제규제 완화에 둘 필요가 있음을 시사한다.

Abstract

We measure regulatory stringency indices across Korean industries and analyze the effects of regulation on labor productivity using a panel cointegration method. Panel cointegration test finds the existence of cointegration among labor productivity, physical capital stock, R&D capital stock, and regulatory stringency index. Moreover, the estimation of panel cointegration vector shows that economic regulation has adverse impacts on productivity while social regulation does not have significant impacts on productivity. This finding implies that priorities of regulation policy need to be placed on mitigation of adverse impacts from economic regulation on labor productivity given its effectiveness in enhancing productivity.

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