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The Impact of Institutional Change on Compensating Wage Differentials for Accident Risk: South Korea, 1984-1990

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  • Kim, Seung-Wook
  • Fishback, Price V

Abstract

Institutional change can lead to substantial changes in the size of compensating differentials for workplace accident risk. The South Korean labor market experienced two major institutional changes between 1984 and 1990. First, a relaxation of restrictions on Korean labor unions in 1987 led to a sharp jump in the extent of strike activity and bargaining rounds which was associated with a reduction in the size of compensating differences. Second, reform of Korean workers compensation in 1989 led to a substantial rise in benefits that also served to reduce the extent of compensating differentials. Copyright 1999 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 18 (1999)
Issue (Month): 3 (October)
Pages: 231-48

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Handle: RePEc:kap:jrisku:v:18:y:1999:i:3:p:231-48

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Web page: http://www.springerlink.com/link.asp?id=100299

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Cited by:
  1. Jan Erik Askildsen & Uwe Jirjahn & Stephan C. Smith, 2002. "Works Councils and Environmental Investment: Theory and Evidence from German Panel Data," CESifo Working Paper Series 785, CESifo Group Munich.
  2. Muhammad Rafiq & Mir Kalan Shah, 2010. "The Value of Reduced Risk of Injury and Deaths in Pakistan—Using Actual and Perceived Risk Estimates," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 49(4), pages 823–837.

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