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The impact of social pension scheme on the quality of labor supply: empirical evidence based on health human capital

Shulin Xu (School of Economics, Guangzhou College of Commerce, Guangzhou, China)
Zefeng Tong (School of Public Finance and Taxation, Zhongnan University of Economics and Law, Wuhan, China)
Cheng Li (School of Finance and Public Administration, Hubei University of Economics, Wuhan, China)
Shuoqi Chen (School of Finance, Zhongnan University of Economics and Law, Wuhan, China)

Kybernetes

ISSN: 0368-492X

Article publication date: 2 January 2023

11

Abstract

Purpose

High-quality labor supply is inevitable to maintain sustainable and steady economic growth. This study mainly explores the impact of the social pension system on the health of human capital, and further explores its impact mechanism.

Design/methodology/approach

On the basis of the data from China Family Panel Studies from 2012 to 2018, this article uses the fixed effect model and the mediation effect model to empirically study the influence of the social pension scheme on the health of human capital and further explore its influence mechanism.

Findings

This study shows that the social pension scheme can significantly improve the physical and mental health of laborers, especially for low-income and agricultural groups. The implementation of the social pension scheme contributes to increasing medical services and reducing the labor supply for the benefit of human health capital. Therefore, the government should continue to expand the coverage of the social pension scheme and comprehensively improve the importance of human health capital on economic growth.

Practical implications

Medical costs and labor supply play a mediating effect in the relationship between social pension and rural labors' health status, which indicates that medical costs and labor supply level are still important factors affecting the health status of rural labor. There are essential factors affecting the health status of the rural labor force, and their role should be given more consideration in the process of system design and improvement.

Originality/value

The existing studies have more frequently studied the effect of the implementation of social pension schemes from the perspective of economic performance, but this paper evaluates the policy effect of social pension schemes based on the perspective of health human capital, which enriches research on health performance in related fields.

Keywords

Acknowledgements

Funding: This research is supported by Youth Project of Department of Education of Hubei Province of Humanities and Social Sciences Research (Number: 19Q142).

Citation

Xu, S., Tong, Z., Li, C. and Chen, S. (2023), "The impact of social pension scheme on the quality of labor supply: empirical evidence based on health human capital", Kybernetes, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/K-10-2022-1413

Publisher

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Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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