Increasing women’s economic participation has been considered pivotal to sustained economic growth in the aging society.
Nevertheless, researches on long-term behavior of the time series of female labor force participation rates in Korea have surprisingly been rare.
The study aims to redress this dearth. Specifically, it tries to fit the long-term trajectory of changes in Korean female labor force participation rates using an ARIMA model and, on the basis of which, to forecast future changes in female labor force participation rates.
Then, it focuses on factors influencing female labor force participation rates in Korea, especially on the ratio of part-timers to the employed people, using various estimation techniques such as an ARIMAX and a fixed effects model.
The study finds that female labor force participation rates in Korea will not rise above the current low levels of 49-50% even after 5 years from now, and that increases in the rate of part-time workers has not induced increases in the female labor force participation rates in Korea. The study is expected to be germinal in generating more enriched researches in near future.
|