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The Labor Force Participation Rate in the Context of ESG Models at World Level

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  • Leogrande, Angelo
  • Costantiello, Alberto

Abstract

In this article we analyze the impact of Labor Force Partecipation Rate-LFPR in the context of the Environmental, Social and Governance-ESG model at world level. We use data from the ESG dataset of the World Bank for the period 2011-2020. We use Panel Data with Fixed Effects, Panel Data with Random Effects, Pooled OLS, Dynamic Panel. We find that the level of LFPR is positively associated among others to “Ratio of Female to Male Labor Force Participation Rate” and “Life Expectancy at Birth”, and negatively associated among others, to “Unemployment” and “Agricultural Land”. Furthermore, we have applied a clusterization with the k-Means algorithm optimized with the Silhouette coefficient, and we found the presence of three clusters. Finally, we confront eight different machine learning algorithms to predict the value of LFPR. We find that the best predictor is the Linear Regression. Linear Regression predicts an increase in LFPR equal to 0.42% on average for the analyzed countries.

Suggested Citation

  • Leogrande, Angelo & Costantiello, Alberto, 2023. "The Labor Force Participation Rate in the Context of ESG Models at World Level," MPRA Paper 117500, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:117500
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    References listed on IDEAS

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    Cited by:

    1. Leogrande, Angelo & Leogrande, Domenico & Costantiello, Alberto, 2023. "The Impact of Patent Applications in the Context of the ESG Model at World Level," EconStor Preprints 273495, ZBW - Leibniz Information Centre for Economics.
    2. Leogrande, Angelo & Leogrande, Domenico & Costantiello, Alberto, 2023. "The Role of Unemployment in the ESG Model at World Level," MPRA Paper 117845, University Library of Munich, Germany.

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    More about this item

    Keywords

    Analysis of Collective Decision-Making; General; Political Processes: Rent-Seeking; Lobbying; Elections; Legislatures; and Voting Behaviour; Bureaucracy; Administrative Processes in Public Organizations; Corruption; Positive Analysis of Policy Formulation; Implementation.;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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