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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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  • Kim, Seung-Wook & Fishback, Price V, 1999. "The Impact of Institutional Change on Compensating Wage Differentials for Accident Risk: South Korea, 1984-1990," Journal of Risk and Uncertainty, Springer, vol. 18(3), pages 231-248, October.
    • Handle: RePEc:kap:jrisku:v:18:y:1999:i:3:p:231-48
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    Cited by:

    1. 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.
    2. Bellavance, Franois & Dionne, Georges & Lebeau, Martin, 2009. "The value of a statistical life: A meta-analysis with a mixed effects regression model," Journal of Health Economics, Elsevier, vol. 28(2), pages 444-464, March.
    3. W. Kip Viscusi, 2015. "The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life," American Journal of Health Economics, University of Chicago Press, vol. 1(1), pages 27-52, Winter.
    4. Brajer, Victor & Mead, Robert W. & Xiao, Feng, 2006. "Valuing the health impacts of air pollution in Hong Kong," Journal of Asian Economics, Elsevier, vol. 17(1), pages 85-102, February.
    5. Polat, Sezgin, 2016. "Industry Wage Differentials and Working Conditions in Turkey: A Brief Note," MPRA Paper 73165, University Library of Munich, Germany.
    6. Askildsen, Jan Erik & Jirjahn, Uwe & Smith, Stephen C., 2006. "Works councils and environmental investment: Theory and evidence from German panel data," Journal of Economic Behavior & Organization, Elsevier, vol. 60(3), pages 346-372, July.
    7. Shah Rome Khan & Muhammad Imran Khan & Dr. Sardar Javaid Iqbal Khan, 2023. "An Investigation into the Statistical Significance of Labor Force Longevity in Brick Kilns and Marble Industry: A Case Study of Peshawar," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 679-688.
    8. Weber, Shlomo & Castaneda Dower, Paul & Markevich, Andrei, 2018. "The Value of a Statistical Life in a Dictatorship: Evidence from Stalin," CEPR Discussion Papers 12814, C.E.P.R. Discussion Papers.
    9. Castañeda Dower, Paul & Markevich, Andrei & Weber, Shlomo, 2021. "The value of a statistical life in a dictatorship: Evidence from Stalin," European Economic Review, Elsevier, vol. 133(C).
    10. W. Kip Viscusi & Clayton Masterman, 2017. "Anchoring biases in international estimates of the value of a statistical life," Journal of Risk and Uncertainty, Springer, vol. 54(2), pages 103-128, April.

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