Aging labor,ICT capital,and productivity in Japan and Korea |
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| Institution: | 1. Economics Department, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul, 02841, Republic of Korea;2. Graduates School of International Studies, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul, 02841, Republic of Korea;1. Australian National University, Canberra, Australia;2. Griffith University, Brisbane, Australia;1. Graduate School of Economics, Keio University, 2-15-45 Mita Minato-ku Tokyo 108-8345, JAPAN;1. Gakushuin University and RIETI, Japan;2. Rissho University, Japan;3. Graduate School of Economics, Hitotsubashi University, Japan;1. Chiba University, 1-33 Yayoi-cho, Inage-ku, Chiba-shi, Chiba 263-8522, Japan;2. Hosei University, 4342 Aihara-machi, Machida-shi, Tokyo 194-0298, Japan;3. Economic and Social Research Institute, Cabinet Office, 1-6-1 Nagata-cho, Chiyoda-ku, Tokyo 100-8914, Japan |
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| Abstract: | This study examines how aging affects labor productivity using industry-level data of Japan and Korea. The analysis shows that, for both Japan and Korea, aging has positive effects on labor productivity when older workers are working in industries with a large share of information and communication technology (ICT) in the capital stock. We also find that, on average, older workers exert positive effects on labor productivity across all industries when they are low-educated in Japan and high-educated in Korea. In addition, a complementary effect between ICT capital and older workers is observed for both high- and low-educated workers in Japan but only for low-educated workers in Korea. The complementarity between ICT and old workers existed in both manufacturing and services industries of Korea and Japan. |
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