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KMID : 1001320120390010257
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Social Welfare Policy
2012 Volume.39 No. 1 p.257 ~ p.281
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The Effects of Social Investment and its Typology
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Yoo Hee-Won
Kim Seong-Wook
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Abstract
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This article aims to examine the development pattern of respective nation that has been emphasized the Social Investment policy and based on the result of which it aims to explore the direction of the social investment model of Korean society. For such purpose, typology was made in accordance with types of combination pattern between social investment and
income security policy such as the social investment state that indicates substituting relationship between the two, and the passive welfare state that still emphasize the role of classical income security policy, and the social investment strategic state that shows higher social investment and income security causing mutual complementary increase or decrease
based on which the economic and social outcome of those typology patterns were compared and examined.
According to the analysis, First, it revealed to have higher human capital increase effect of the countries indicating mutually complementary between social investment and income security compare to the countries otherwise. Second, in case of unemployment ratio, those countries that implemented active social investment strategy indicated lower nemployment ratio compare to the countries otherwise. Third, in the case of female employment ratio, the social investment strategic countries indicated the highest ratio but the social investment nation as well showed a certain result from which it could presume the possibility to achieve much bigger outcome through proper combination with income security system. Finally, in case of income inequality, in the ‘90s the social investment countries indicated the highest degree of income inequality which appears to be the result of substitution to social investment policy from existing income security policy that contributed to the improvement of distribution structure. Consequently, it could be noticed that the strategy of welfare state that substitutes income security policy to social investment indicates relatively weak economic-social outcome compare to the strategy mutually complements.
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KEYWORD
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welfare state, social risks, social investment, income security
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