Low Fertility, Human Capital, and Economic Growth: The Importance of Financial Education and Job Retraining
Low Fertility, Human Capital, and Economic Growth: The Importance of Financial Education and Job Retraining
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低生育率、人力资本和经济增长：金融教育和工作再培训的重要性
DOI：
10.4054/demres.2013.29.32
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发表时间：
2013
影响因子：
2.1
通讯作者：
N. Ogawa
中科院分区：
文献类型：
--
作者：
R. Clark;R. Matsukura;N. Ogawa
背景：国际研究表明，工人的金融知识水平相当低。理财知识与终身规划和退休储蓄有关。本文主要关注金融知识在日本老年工人对人力资本的需求和在职培训中的作用。金融知识水平较高的员工更有可能需要人力资本，计划参加培训项目，并希望在退休后继续工作。目的：金融知识是否会影响日本老年工人对额外人力资本的需求？在日本，金融知识水平如何影响退休年龄和退休后的工作计划？方法：本文分析了日本全国雇员调查的数据。我们估计了金融知识对额外人力资本需求的影响，以保持晋升和退休后就业的竞争力。结果：在日本，较高的金融知识水平与对额外人力资本和参与在职培训计划的更大需求有关。结论：鉴于日本人口的快速老龄化和总人口的下降，为老年工人（60岁及以上）提供就业机会是维持经济增长和人均收入的关键。分析表明，较高的金融知识水平与对更多培训和人力资本的渴望有关。因此，提高老年员工的金融知识水平可能是维持经济福祉的关键。
Background: International research has shown that workers have a rather low level of financial literacy. Financial literacy is associated with lifetime planning and saving for retirement. This article focuses on the role of financial literacy in the demand for human capital and on-the-job training among older workers in Japan. Workers with higher levels of financial literacy are more likely to demand human capital, plan to enter training programs, and desire to work after retirement. Objective: Does financial literacy affect the demand for additional human capital among older Japanese workers? How does the level of financial literacy affect the age of retirement and plans for working after retirement from a career job in Japan? Methods: This paper analyzes data from a national survey of Japanese employees. We estimate the effect of financial literacy on the demand for additional human capital to remain competitive for promotions and for finding employment after retirement. Results: Higher levels of financial literacy are associated with greater demand for additional human capital and for participation in on-the-job training programs among older workers in Japan. Conclusions: Given the rapid aging of the Japanese population and the decline in the total population, providing employment opportunities for older workers (ages 60 and older) is a key to sustaining economic growth and per capita income. The analysis indicates that greater levels of financial literacy are associated with a desire for more training and human capital. Thus, enhancing the level of financial literacy among older workers may be a key to maintaining economic wellbeing.