Labor Supply Intention of the Elderly in Thailand
Keywords:
elderly labor, elderly worker, labor supplyAbstract
Using data from the LFS conducted by the National Statistical Office (1998 - 2017), this paper studies personal and macroeconomic factors influencing the elderly’s decisions to work after retirement. The findings show that working hours became the most significant factor affecting the elderly’s work decisions at both the country and the regional levels. Personal factors also affected the elderly’s work decisions at both levels. For macroeconomic factors, the growth rate of GPP significantly affected the elderly’s work decisions only in the Northern Region. At the whole country level, the elderly who have the burden of raising children and providing care for senior family members were less likely to remain economically active. The study suggested that the government should issue a policy or measure that helps reduce the older persons’ burdens to enable them to continue working.
References
Adhikari, R., Soonthorndhada, K., & Haseen, F. (2011). Labor force participation in later life: Evidence from a cross-sectional study in Thailand. BMC geriatrics, 11(1), 15.
Amonvatana, C. et al. (2008). The Study on Guidelines and Measures to Promote Employment in the Elderly. Development Strategies During the Tenth National Economic and Social Development Plan into Practice Project. Report to the Office of the National Economic and Social Development Council. Chula Unisearch.
Arifin, E. N., & Ananta, A. (2009). Employment of older persons: Diversity across nations and subnations in Southeast Asia. Older Persons in Southeast Asia. An Emerging Asset, 167-217.
Bank of Thailand. (2018). Aging society and the challenges of the Thai labor market. Retrieved from http://www.bot.or.th/Thai/MonetaryPolicy/EconomicConditions/AAA/AgePeriodCohort.pdf.
Bank of Thailand. (2018). Thailand’s Macro Economic Indicators. (Online). Retrieved from http://www.bot.or.th/Thai/Statistics/EconomicAndFinancial/Pages/StatMacroEconomicIndicators.aspx.
Becker, G. S. (1965). A Theory of the Allocation of Time. The Economic Journal, 75(299).
Bloom, D. E., Chatterji, S., Kowal, P., Lloyd-Sherlock, P., McKee, M., Rechel, B., ... & Smith, J. P. (2015). Macroeconomic implications of population ageing and selected policy responses.The Lancet, 385(9968), 649-657.
Chansarn, S. (2011). Thailand’s Economic Prospect in Ageing Society: Implications from Labor Productivity. Thai Population Journal, 2(2), 7-30.
Cheng, Y. H. A., & Loichinger, E. (2017). The future labor force of an aging Taiwan: The importance of education and female labor supply. Population Research and Policy Review, 36(3), 441-466.
Chi, S. D. (2012). Aging workforce and ergonomics in construction: opportunities and challenges. Journal of Ergonomics, 3(1), 1000e116.
Clark, R. L., & Clark, R. L. (Eds.). (2004). The economics of an aging society. Cornwall: Blackwell Publishing.
Contreras, D., De Mello, L., & Puentes, E. (2011). The determinants of labour force participation and employment in Chile. Applied Economics, 43(21), 2765-2776.
Copeland, C. (2007). Labor-force participation: The population age 55 and older. EBRI notes, 28(6).
Cutler, D. & Lleras-Muney, A. (2008). Education and health: evaluating theories and evidence. In Schoeni, R.F., House, J.S., Kaplan, G.A., and Pollack, H. (Eds.), Making Americans healthier. New York: Russell Sage Foundation: 29-60.
Duggan, J. E. (1984). The labor-force participation of older workers. ILR Review, 37(3), 416-430.
Elo, I. T., & Preston, S. H. (1996). Educational differentials in mortality: United States, 1979–1985. Social science & medicine, 42(1), 47- 57.
Foundation of Thai Gerontology Research and Development institute. (2013). Situation of Thai Elderly 2013. Bangkok.
. 2016. Bangkok.
. 2018. Bangkok.
Filer, R. K., & Petri, P. A. (1988). A job-characteristics theory of retirement. The Review of Economics and Statistics, 123-128.
Giles, J. & Huang, Y. (2015). Are the Elderly Left Behind in a Time of Rapid Demographic and Economic Change? A Comparative Study of the Poverty and Well-Being of East Asia’s Elderly. Journal of Public Economics, 90(12): 2229–2255.
Gustman, A. L., & Steinmeier, T. L. (1994). Retirement analysis, social security and pensions. NBER Reporter: 14-18.
Hansson, R. O., DeKoekkoek, P. D., Neece, W. M., & Patterson, D. W. (1997). Successful aging at work: Annual review, 1992–1996: The older worker and transitions to retirement. Journal of vocational behavior, 51(2), 202-233.
Hotopp, U. (2005). The employment rate of older workers. Labour Market Trends, 113(2): 73-88.
Hurd, M., & McGarry, K. (1993). The relationship between job characteristics and retirement (NBER Working Paper No. w4558). National Bureau of Economic Research.
Kim, S. (2016). Factors affecting employment retention among older workers in South Korea. Working with Older People, 20 (1): 14-22.
Laowiwattana, S. (2008). The study of labour force participation of the elderly in Bangkok. Unpublish master’s thesis. Chulalongkorn University, Bangkok, Thailand.
Lee, Y. (2019). Determinants of Employing Older People: A Comparative Analysis from Asia. Transylvanian Review of Administrative Sciences, 15(57), 34-50.
Maestas, N. (2010). Back to work expectations and realizations of work after retirement. Journal of Human Resources, 45(3), 718-748.
McKee-Ryan, F., Song, Z., Wanberg, C. R., & Kinicki, A. J. (2005). Psychological and physical well-being during unemployment: a meta-analytic study. Journal of applied psychology, 90(1), 53.
Ministry of Culture. (2016). Cultural Lifestyle and Wisdom. Rungsilp Printing Co., Ltd.
Ministry of Social Development and Human Security. (2018). Rights and Welfares of Elderly. Retrieved from http://www.dop.go.th/th/benefits/3/765. (in Thai)
National Statistical Office. (2018). The Labor Force Survey Whole Kingdom. Bangkok: National Statistical Office.
Organisation for Economic Co-operation and Development. (2006). Live Longer, Work Longer. Paris: OECD.
Office of the National Economic and Social Development Board. (2018). Gross Regional and Provincial Product (GPP). Retrieved from http://www.nesdb.go.th/nesdb_en/main. php? filename=national_account.
Official Statistic Registration Systems. (2018). The statistical of Thai population. Retrieved from http:// www. stat.dopa.go.th/stat/statnew /upstat_age.php.
Oshio, T., Usui, E., & Shimizutani, S. (2018). Labor force participation of the elderly in Japan (NBER Working Paper No. w24614). National Bureau of Economic Research.
Patrickson, M. & Hartmann, L. (1996). Australian gender differences in preferences for early retirement. International Employment Relations Review, 2(1): 1-19.
Patrickson, M. & Clarke, M. (2001). Voluntary redundancy: Its role in stimulating early Retirement. Australian and New Zealand Academy of Management, Auckland: 7.
Raksasap, S., Ninbai, T. & Intrawisaes, N. (2008). The Pilot Study on Appropriate Work for Older Persons. Report to Ministry of Labour.
Sakai, H. & Asaoka, H. (2007). Factors affecting labor force participation in Japan: empirical study of labor supply of the elderly and females. In Hamada, K. & Kato, H. (Eds.), Ageing and the Labor Market in Japan: Problems and Policies. Cheltenham: Edward Elgar, 24-56.
Shacklock, K., & Brunetto, Y. (2011). A model of older workers' intentions to continue working. Personnel Review, 40(2): 252-274.
Shimizutani, S., Oshio, T., & Fujii, M. (2014). Option value of work, health status, and retirement decisions in Japan: Evidence from the Japanese Study on Aging and retirement (JSTAR). In Social Security Programs and Retirement around the World: Disability Insurance Programs and Retirement (pp. 497-535). University of Chicago Press.
Soonthornchawakan, N., & Cintakulchai, S. (2009). Job Opportunities Creation for the Elderly in Thailand (Report to the Foundation of Thai Gerontology Research and Development institute). Economic Research and Training Center Faculty of Economics Thammasat University. (in Thai)
Srisuchart, S., Tangtipongkul, K., & Aroontrungsawat, A. (2017). The pilot project developed a model for extending the age of employment of older workers in the workplace. Thai Health Promotion Foundation. (in Thai)
Srisuchart, S., Tangtipongkul, K., & Aroontrungsawat, A. (2019). Promotion of income and employment of the elderly of the elderly according to the civil society policy. Ministry of social Development and Human Security. (in Thai)
Sukontamarn, P., & Herberholz, C. (2018). Work status of Thai Elderly. (Online) www.thansettakij.com/content/350049, December 12, 2019.
Suksiriserekul, S. (2013). The study of the continuation of elderly working career effect on relieving the lack of experience workforce.
Székely, M., Behrman, J., & Duryea, S. (2011). We are all getting older: A world perspective on aging and economics. East Asian Economic Perspectives, (13): 18-51.
Vicens-Feliberty, M. A., & Reyes, F. (2015). Female Labor Force Participation and Dependency Ratios in Border States. Journal of Borderlands Studies, 30(2): 137-150.
Wise, D. A. (2017). Social security programs and retirement around the world: The capacity to work at older ages. University of Chicago Press.
Wolcott, I. (1998). Families in later life: Dimensions of retirement. Australian Institute of Family Studies.
Yamada, A., & Higo, M. (2011). Institutional barriers to work beyond retirement in an aging Japan: Evidence from a recent employee survey. Contemporary Japan, 23(2): 157-186.
Amonvatana, C. et al. (2008). The Study on Guidelines and Measures to Promote Employment in the Elderly. Development Strategies During the Tenth National Economic and Social Development Plan into Practice Project. Report to the Office of the National Economic and Social Development Council. Chula Unisearch.
Arifin, E. N., & Ananta, A. (2009). Employment of older persons: Diversity across nations and subnations in Southeast Asia. Older Persons in Southeast Asia. An Emerging Asset, 167-217.
Bank of Thailand. (2018). Aging society and the challenges of the Thai labor market. Retrieved from http://www.bot.or.th/Thai/MonetaryPolicy/EconomicConditions/AAA/AgePeriodCohort.pdf.
Bank of Thailand. (2018). Thailand’s Macro Economic Indicators. (Online). Retrieved from http://www.bot.or.th/Thai/Statistics/EconomicAndFinancial/Pages/StatMacroEconomicIndicators.aspx.
Becker, G. S. (1965). A Theory of the Allocation of Time. The Economic Journal, 75(299).
Bloom, D. E., Chatterji, S., Kowal, P., Lloyd-Sherlock, P., McKee, M., Rechel, B., ... & Smith, J. P. (2015). Macroeconomic implications of population ageing and selected policy responses.The Lancet, 385(9968), 649-657.
Chansarn, S. (2011). Thailand’s Economic Prospect in Ageing Society: Implications from Labor Productivity. Thai Population Journal, 2(2), 7-30.
Cheng, Y. H. A., & Loichinger, E. (2017). The future labor force of an aging Taiwan: The importance of education and female labor supply. Population Research and Policy Review, 36(3), 441-466.
Chi, S. D. (2012). Aging workforce and ergonomics in construction: opportunities and challenges. Journal of Ergonomics, 3(1), 1000e116.
Clark, R. L., & Clark, R. L. (Eds.). (2004). The economics of an aging society. Cornwall: Blackwell Publishing.
Contreras, D., De Mello, L., & Puentes, E. (2011). The determinants of labour force participation and employment in Chile. Applied Economics, 43(21), 2765-2776.
Copeland, C. (2007). Labor-force participation: The population age 55 and older. EBRI notes, 28(6).
Cutler, D. & Lleras-Muney, A. (2008). Education and health: evaluating theories and evidence. In Schoeni, R.F., House, J.S., Kaplan, G.A., and Pollack, H. (Eds.), Making Americans healthier. New York: Russell Sage Foundation: 29-60.
Duggan, J. E. (1984). The labor-force participation of older workers. ILR Review, 37(3), 416-430.
Elo, I. T., & Preston, S. H. (1996). Educational differentials in mortality: United States, 1979–1985. Social science & medicine, 42(1), 47- 57.
Foundation of Thai Gerontology Research and Development institute. (2013). Situation of Thai Elderly 2013. Bangkok.
. 2016. Bangkok.
. 2018. Bangkok.
Filer, R. K., & Petri, P. A. (1988). A job-characteristics theory of retirement. The Review of Economics and Statistics, 123-128.
Giles, J. & Huang, Y. (2015). Are the Elderly Left Behind in a Time of Rapid Demographic and Economic Change? A Comparative Study of the Poverty and Well-Being of East Asia’s Elderly. Journal of Public Economics, 90(12): 2229–2255.
Gustman, A. L., & Steinmeier, T. L. (1994). Retirement analysis, social security and pensions. NBER Reporter: 14-18.
Hansson, R. O., DeKoekkoek, P. D., Neece, W. M., & Patterson, D. W. (1997). Successful aging at work: Annual review, 1992–1996: The older worker and transitions to retirement. Journal of vocational behavior, 51(2), 202-233.
Hotopp, U. (2005). The employment rate of older workers. Labour Market Trends, 113(2): 73-88.
Hurd, M., & McGarry, K. (1993). The relationship between job characteristics and retirement (NBER Working Paper No. w4558). National Bureau of Economic Research.
Kim, S. (2016). Factors affecting employment retention among older workers in South Korea. Working with Older People, 20 (1): 14-22.
Laowiwattana, S. (2008). The study of labour force participation of the elderly in Bangkok. Unpublish master’s thesis. Chulalongkorn University, Bangkok, Thailand.
Lee, Y. (2019). Determinants of Employing Older People: A Comparative Analysis from Asia. Transylvanian Review of Administrative Sciences, 15(57), 34-50.
Maestas, N. (2010). Back to work expectations and realizations of work after retirement. Journal of Human Resources, 45(3), 718-748.
McKee-Ryan, F., Song, Z., Wanberg, C. R., & Kinicki, A. J. (2005). Psychological and physical well-being during unemployment: a meta-analytic study. Journal of applied psychology, 90(1), 53.
Ministry of Culture. (2016). Cultural Lifestyle and Wisdom. Rungsilp Printing Co., Ltd.
Ministry of Social Development and Human Security. (2018). Rights and Welfares of Elderly. Retrieved from http://www.dop.go.th/th/benefits/3/765. (in Thai)
National Statistical Office. (2018). The Labor Force Survey Whole Kingdom. Bangkok: National Statistical Office.
Organisation for Economic Co-operation and Development. (2006). Live Longer, Work Longer. Paris: OECD.
Office of the National Economic and Social Development Board. (2018). Gross Regional and Provincial Product (GPP). Retrieved from http://www.nesdb.go.th/nesdb_en/main. php? filename=national_account.
Official Statistic Registration Systems. (2018). The statistical of Thai population. Retrieved from http:// www. stat.dopa.go.th/stat/statnew /upstat_age.php.
Oshio, T., Usui, E., & Shimizutani, S. (2018). Labor force participation of the elderly in Japan (NBER Working Paper No. w24614). National Bureau of Economic Research.
Patrickson, M. & Hartmann, L. (1996). Australian gender differences in preferences for early retirement. International Employment Relations Review, 2(1): 1-19.
Patrickson, M. & Clarke, M. (2001). Voluntary redundancy: Its role in stimulating early Retirement. Australian and New Zealand Academy of Management, Auckland: 7.
Raksasap, S., Ninbai, T. & Intrawisaes, N. (2008). The Pilot Study on Appropriate Work for Older Persons. Report to Ministry of Labour.
Sakai, H. & Asaoka, H. (2007). Factors affecting labor force participation in Japan: empirical study of labor supply of the elderly and females. In Hamada, K. & Kato, H. (Eds.), Ageing and the Labor Market in Japan: Problems and Policies. Cheltenham: Edward Elgar, 24-56.
Shacklock, K., & Brunetto, Y. (2011). A model of older workers' intentions to continue working. Personnel Review, 40(2): 252-274.
Shimizutani, S., Oshio, T., & Fujii, M. (2014). Option value of work, health status, and retirement decisions in Japan: Evidence from the Japanese Study on Aging and retirement (JSTAR). In Social Security Programs and Retirement around the World: Disability Insurance Programs and Retirement (pp. 497-535). University of Chicago Press.
Soonthornchawakan, N., & Cintakulchai, S. (2009). Job Opportunities Creation for the Elderly in Thailand (Report to the Foundation of Thai Gerontology Research and Development institute). Economic Research and Training Center Faculty of Economics Thammasat University. (in Thai)
Srisuchart, S., Tangtipongkul, K., & Aroontrungsawat, A. (2017). The pilot project developed a model for extending the age of employment of older workers in the workplace. Thai Health Promotion Foundation. (in Thai)
Srisuchart, S., Tangtipongkul, K., & Aroontrungsawat, A. (2019). Promotion of income and employment of the elderly of the elderly according to the civil society policy. Ministry of social Development and Human Security. (in Thai)
Sukontamarn, P., & Herberholz, C. (2018). Work status of Thai Elderly. (Online) www.thansettakij.com/content/350049, December 12, 2019.
Suksiriserekul, S. (2013). The study of the continuation of elderly working career effect on relieving the lack of experience workforce.
Székely, M., Behrman, J., & Duryea, S. (2011). We are all getting older: A world perspective on aging and economics. East Asian Economic Perspectives, (13): 18-51.
Vicens-Feliberty, M. A., & Reyes, F. (2015). Female Labor Force Participation and Dependency Ratios in Border States. Journal of Borderlands Studies, 30(2): 137-150.
Wise, D. A. (2017). Social security programs and retirement around the world: The capacity to work at older ages. University of Chicago Press.
Wolcott, I. (1998). Families in later life: Dimensions of retirement. Australian Institute of Family Studies.
Yamada, A., & Higo, M. (2011). Institutional barriers to work beyond retirement in an aging Japan: Evidence from a recent employee survey. Contemporary Japan, 23(2): 157-186.
Downloads
Published
2020-12-29
Issue
Section
Articles
License
All opinions and contents in the CMJE are the responsibility of the author(s). Chiang Mai University Journal of Economics reserves the copyright for all published materials. Papers may not be reproduced in any form without the written permission from Chiang Mai University Journal of Economics.
ข้อคิดเห็นที่ปรากฏและแสดงในเนื้อหาบทความต่างๆในวารสารเศรษฐศาสตร์มหาวิทยาลัยเชียงใหม่ ถือเป็นความเห็นและความรับผิดชอบโดยตรงของผู้เขียนบทความนั้นๆ มิใช่เป็นความเห็นและความรับผิดชอบใดๆของวารสารเศรษฐศาสตร์ มหาวิทยาลัยเชียงใหม่
บทความ เนื้อหา และข้อมูล ฯลฯ ในวารสารเศรษฐศาสตร์มหาวิทยาลัยเชียงใหม่ ถือเป็นลิขสิทธิ์เฉพาะของคณะเศรษฐศาสตร์มหาวิทยาลัยเชียงใหม่ หากบุคคลหรือหน่วยงานใดต้องการนำทั้งหมดหรือส่วนหนึ่งส่วนใดไปเผยแพร่ต่อหรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษร จากวารสารเศรษฐศาสตร์ มหาวิทยาลัยเชียงใหม่
