Abstract
Impacts of industrial robot usage on international labor markets and productivity: Evidences from 22 OECD countries
Highlights
In this study, the relationships between employment, productivity, minimum wage, and the number of industrial robots are examined by using the panel pooled mean group estimator method in the context of the Creative Destruction hypothesis of Schumpeter and the Technological System of Freeman with Dosi
The study aims to determine the impact the number of industrial robots has on employment, minimum wage, and productivity
This study is dependent on the data available from 2006-2017 for 22 OECD countries to illustrate the impact that the number of industrial robots has on employment, minimum wage, and productivity for the period 2006-2017
Summary
The relationships between employment, productivity, minimum wage, and the number of industrial robots are examined by using the panel pooled mean group estimator method in the context of the Creative Destruction hypothesis of Schumpeter and the Technological System of Freeman with Dosi. Schumpeter mentions the effects of new production techniques on the economy in his Creative Destruction hypothesis. The Creative Destruction hypothesis states that if a country does not become an innovator, it will lose its international competitiveness. Innovation may take place if new production techniques are employed (Schumpeter, 1939 & Schumpeter, 1942). Freeman et al (1982 & 2000) and Dosi (1982 & 2000), both being influenced by Schumpeter's Creative Destruction Theory, explain the impact of technological development on employment via the technological system Innovation may take place if new production techniques are employed (Schumpeter, 1939 & Schumpeter, 1942). Freeman et al (1982 & 2000) and Dosi (1982 & 2000), both being influenced by Schumpeter's Creative Destruction Theory, explain the impact of technological development on employment via the technological system
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