외국인직접투자가 한국 노동시장에 미치는 영향 분석

An Analysis of FDI Effects on the Labor Market in Korea

This paper analyzes the effect of foreign direct investment (FDI) on the labor market in Korea, quantitatively and qualitatively. In particular, we measure the routine task-intensity (RTI) index similar to that of Autor and Dorn (2013) to investigate the FDI effect on Korean labor market qualitatively. It is shown that the RTI index is higher in the manufacturing sector than in the non-manufacturing sector; the FDI effect on employment in the manufacturing sector is insignificant but in the non-manufacturing sector, it is significantly positive. Moreover, the FDI effect on per capita labor costs and the share of full-time jobs is significantly positive in both the manufacturing and non-manufacturing sectors. In addition, the FDI effect on the RTI index is significantly negative in the manufacturing sector but is insignificant in the non-manufacturing sector. Finally, an analysis using a propensity score matching technique shows that the employment in foreign-invested companies is higher than that in domestic companies, leading us to think that relatively insufficiently competitive domestic companies are crowded out in the market.