Social Investment Policy, Economic Growth, and Welfare States: Channels of Pro-Growth Effects of Policy
Social Investment Policy, Economic Growth, and Welfare States: Channels of Pro-Growth Effects of Policy
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DOI：
10.1093/sf/soz178
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发表时间：
2020-03
期刊：
影响因子：
4.8
通讯作者：
T. Sakamoto
中科院分区：
文献类型：
--
作者：
T. Sakamoto
翻译后摘要：社会投资（SI）的政策在过去的二十年中一直流行的工业国家。各国政府希望，SI政策将通过创造高技能劳动力来促进生产力和经济增长，这些劳动力能够适应新知识经济和技术进步的需要，或者能够自己创造新技术。他们还希望社会保险协会的政策能够减轻新的社会风险，如单亲家庭和就业不稳定的工人，使工人更好地为就业做好准备，促进社会包容。然而，很少有研究存在，实证调查SI政策是否真的产生这些积极的结果。在所有的经济成果中，本文着眼于经济增长和经济增长的渠道--多要素生产率（MFP）、实物资本投资和劳动力投入，考察SI政策是否促进了GDP增长及其渠道。分析了17个工业国家的数据。分析发现，家庭支持，教育和ALMP支出（所有衡量为每个孩子，学生和失业人员，分别支出）与MFP和GDP增长呈正相关，MFP增长是SI政策促进GDP增长的主要渠道。教育支出通过这些渠道促进了MFP，实物资本存量，劳动力投入和GDP增长的增长。虽然家庭支持并没有促进劳动投入的增长，但结果表明，较大的家庭支持支出会导致较高的劳动投入水平。总的来说，这些类型的SI支出对经济增长通常有积极的影响。
Abstract:Social investment (SI) policies have been popular among industrial countries in the past two decades. Governments hope that SI policies will promote productivity and economic growth by creating high-skill labor forces that can adapt to the imperatives of the new knowledge economy and technological advances, or that can create new technologies themselves. They also hope that SI policies will mitigate new social risks, such as single-parent families and workers in precarious employment by better preparing workers for jobs and promoting social inclusion. However, little research exists that empirically investigates whether or not SI policies really produce these positive outcomes. Of all economic outcomes, this paper focuses on economic growth and the channels of economic growth—multifactor productivity (MFP), physical capital investment, and labor input—and investigates whether SI policies promote growth in GDP and its channels. Data from 17 industrial countries are analyzed. The analysis finds that family support, education, and ALMP spending (all measured as spending per child, student, and an unemployed person, respectively) is positively associated with MFP and GDP growth, and that MFP growth is the main channel through which SI policies enhance GDP growth. Education spending boosts the growth of all of MFP, physical capital stock, labor input, and GDP growth via those channels. While family support does not promote the growth of labor input, the results suggest that larger family support spending leads to higher levels of labor input. Overall, these types of SI spending have generally positive effects on economic growth.