@article{ART003011504},
author={Jin-Yeong Kim},
title={Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data},
journal={Analyses & Alternatives},
issn={2508-822X},
year={2023},
volume={7},
number={3},
pages={145-179},
doi={10.22931/aanda.2023.7.3.006}
TY - JOUR
AU - Jin-Yeong Kim
TI - Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data
JO - Analyses & Alternatives
PY - 2023
VL - 7
IS - 3
PB - Korea Consensus Institute
SP - 145
EP - 179
SN - 2508-822X
AB - This study empirically examines the relationship between the education and competence, age and competence, and the returns to skills in the labor market in different countries using PIAAC data. The main focus is notable characteristics of Korea compared to other PIAAC participant countries. Contrary to young students who have highest scores in international tests, Korean adults made mediocre performances in all three areas, numeracy, literacy, and problem solving. It turns out that the correlation between educational level and competence is weak in Korea compared to other countries, whereas the depreciation of competence from aging is strongest. In terms of labor market returns, literacy skills get highest returns while problem-solving skills get lowest in Korea. In contrast, the numeracy skills get highest returns, and the problem-solving skills have high returns than those of Korea in many other countries When we include three skills in the Mincer wage equation, the returns to problem solving skills have negative effect in Korea, which is rarely found in other countries. These results implies that problem-solving skills are not much appreciated in the Korean labor market and Korean adults have few opportunities of accumulating human capital after finishing formal education. Korean need to rethink the ways to accumulate human capital and enhance economic performances to overcome high deprecation in human capital after formal education and to make the labor market more efficient in a sense that adults’ competence results in the due economic returns.
KW - PIAAC;Adults’ Competence;Return to Skills;OECD countries;Labor Market
DO - 10.22931/aanda.2023.7.3.006
ER -
Jin-Yeong Kim. (2023). Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data. Analyses & Alternatives, 7(3), 145-179.
Jin-Yeong Kim. 2023, "Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data", Analyses & Alternatives, vol.7, no.3 pp.145-179. Available from: doi:10.22931/aanda.2023.7.3.006
Jin-Yeong Kim "Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data" Analyses & Alternatives 7.3 pp.145-179 (2023) : 145.
Jin-Yeong Kim. Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data. 2023; 7(3), 145-179. Available from: doi:10.22931/aanda.2023.7.3.006
Jin-Yeong Kim. "Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data" Analyses & Alternatives 7, no.3 (2023) : 145-179.doi: 10.22931/aanda.2023.7.3.006
Jin-Yeong Kim. Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data. Analyses & Alternatives, 7(3), 145-179. doi: 10.22931/aanda.2023.7.3.006
Jin-Yeong Kim. Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data. Analyses & Alternatives. 2023; 7(3) 145-179. doi: 10.22931/aanda.2023.7.3.006
Jin-Yeong Kim. Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data. 2023; 7(3), 145-179. Available from: doi:10.22931/aanda.2023.7.3.006
Jin-Yeong Kim. "Adults’ Competence and Returns to Skills: An International Comparison using PIAAC data" Analyses & Alternatives 7, no.3 (2023) : 145-179.doi: 10.22931/aanda.2023.7.3.006
