Approaches to Labor Demand Forecast in Developing Economies and Their Implications for Korea's ODA

Young Ho Park (), Yejin Kim () and Minji Jeong ()
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Young Ho Park: Korea Institute for International Economic Policy, Postal: Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, http://www.kiep.go.kr/index.do
Yejin Kim: Korea Institute for International Economic Policy, Postal: Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, http://www.kiep.go.kr/index.do
Minji Jeong: Korea Institute for International Economic Policy, Postal: Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, http://www.kiep.go.kr/index.do

No 20-23, World Economy Brief from Korea Institute for International Economic Policy

Abstract: This study aims to develop systematic labor forecast methods, thereby contributing to increasing the efficiency of TVET ODA. This study suggests a new labor demand forecast methodology that combines quantitative and qualitative analyses and applies it to Vietnam, estimating labor demand by occupations in the country's wireless communication equipment industry. This methodology starts with a statistical projection of Vietnam's future labor market and industry. Subsequently, this study uses an enterprise survey and stakeholder interviews to complement missing information, as Vietnam's statistical system, like that of many other emerging economies, lacks some detailed data. Currently, the "element occupations" group takes the largest portion in the labor demand by industry and occupation. According to our results, however, the "plant and machine operators and assemblers" group is expected to gradually increase, thus becoming the largest occupation group in the wireless communication equipment industry in the near future. Given the various circumstances surrounding the labor market in developing countries, other alternatives in addition to our hybrid method of combining quantitative and qualitative analysis can also produce well-founded labor force projections. This study suggests analytical methodologies using global value chain (GVC) and big data as innovative alternatives, which can complement the shortcomings of traditional evaluation methods. ODA implementing agencies would benefit from paying attention to the labor forecasting methods presented in this research, and devising policies supporting these methods in order to properly apply them in reality.

Keywords: Labor Demand; ODA (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2020-08-24
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