Abstract
In Korea's Basic Plan for a Low Fertility and Aging Society, the work-life balance policy aims to create a society that works together and takes care of each other, and seeks to promote regional coexistence due to demographic changes. To this end, this study aims to empirically examine the relationship between the characteristics of work-life balance policies and fertility rates in OECD member countries according to the degree of fiscal decentralization. Based on data provided by the OECD and the International Network on Leave Policy and Research, we find that maternity and parental leave are significantly associated with fertility. Maternity leave duration is positively related to fertility, while women's parental leave, both unpaid and paid, is negatively related to fertility. The relationship between decentralization and fertility shows that the more fiscal autonomy local governments have, the higher the fertility rate. Based on the results of the regression analysis, it is necessary to implement policies in the direction of promoting autonomy in the combination of parental leave duration and salary level through the autonomy and discretion of local governments, and strengthening the duration of maternity leave and economic support. This study examines the characteristics and basic elements of leave policies (maternity leave and parental leave), which are key work-life balance policies, and how the degree of decentralization affects fertility rates in 35 OECD countries, with the ultimate goal of improving the quality of life of not only parents but also infants and young children.
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