투자상대국의 노동시장조건이 한국기업의 해외직접투자에 미치는 영향 분석: 이론과 실증연구
The Impact of Labor Market Condition of a Host Country on Foreign Direct Investment from South Korea: Theory and Evidence
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초록
본 연구는 투자대상국의 노동시장조건이 한국기업의 해외직접투자에 미치는 영향을 분석하였다. 먼저 Redding and Venables(2004)을 확장한 이론모형을 분석한 후 노동시장조건과 해외직접투자에 대한 인과관계 파악을 통해 실증분석모형을 수립하였다. 2001년~2012년 기간에 대한 패널자료를 구축했고 이를 근거로한국 기업의 해외직접투자 결정에 있어 투자대상국의 노동시장조건변수(노조조직률, 고용보호수준, 노동생산성, 노동자의 숙련도)들의 효과를 살펴보았다. 분석결과 노조조직률이 높을수록 한국기업의 해외직접투자는 유의하게 낮아졌으며내생성을 통제한 모형에서도 동일하게 나타났다. 근로자 협상력이 높거나 높아지는 국가에 대해서는 FDI를 줄이는 모습을 한국 사례에서도 확인한 것이다. 한편한국의 기업의 해외직접투자는 고용보호수준과 노동자의 숙련도는 유의한 결과를 보이지 않았는데 이는 OECD 국가에 대한 한국기업의 해외직접투자가 대부분시장 확보를 위한 수평적 투자로 이루어지기 때문인 것으로 보인다.
Abstract
This paper analyzes the effect of labor market condition of countries to attract FDI (foreign direct investment) from South Korea. To examine the effect, first we set up a theoretical framework, then empirically test it using the unbalance panel data on OECD countries for the period of 2011~2012. From the empirical estimation, this study shows that trade union density of the host countries has the negative effect on the FDI. However, employment protection and skill level of the countries do not show statistically significant impacts on the FDI. Other control variables such as GDP, EU member, and RTA(regional trade agreement) participation are significant on the FDI.
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