Onaran, Özlem ORCID: 0000-0002-6345-9922 and Oyvat, Cem ORCID: 0000-0002-5097-0246 (2023) The effects of public spending in the green and the care economy: the case of South Korea. [Working Paper]

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Abstract

The aim of this article is to analyse the impact of public spending in the green economy and the care economy on employment of men and women and GDP in South Korea. We empirically estimate a vector autoregression (VAR) model. In analysing the green economy, we focus on renewable energy, energy efficiency and public transport. The care economy includes healthcare, social care, education, and childcare. The results show the employment creation potential of the green and the care economy to facilitate a just transition to a zero-carbon and caring economy. We analyse the gendered employment effects of different public spending categories and point at the importance of a policy mix to ensure that a green transition is gender-equitable and both the ecological transition and care needs of the countries are adequately addressed. The multiplier effects on GDP are positive and above one in both spending categories, albeit larger in the care economy in the medium run.

Item Type:	Working Paper
Additional Information:	International Trade Union Confederation (ITUC): The employment effects of public investment in infrastructure, the care economy and the green economy: the case of emerging economies.
Uncontrolled Keywords:	green economy; care economy; fiscal policy; South Korea; VAR; multiplier; employment; gender gap
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HJ Public Finance
Faculty / School / Research Centre / Research Group:	Faculty of Business Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Last Modified:	02 May 2023 13:44
URI:	http://gala.gre.ac.uk/id/eprint/38766

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