The Impact of Universal Basic Income on Labor Market Participation

Peter Ssentongo
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Abstract

Purpose: This study sought to investigate the impact of Universal Basic Income on labour market participation. Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library. Findings: The findings reveal that there exists a contextual and methodological gap relating to the impact of Universal Basic Income on labour market participation. Preliminary empirical review revealed the importance of considering both the short-term and long-term effects of Universal Basic Income (UBI) on labor market participation. While some evidence suggested that UBI may have led to modest reductions in employment rates, particularly among certain demographic groups or in specific contexts, the study recognized the broader societal benefits and trade-offs associated with implementing UBI policies. Additionally, the conclusion highlighted the need for nuanced policy design and implementation, considering UBI as a tool for promoting inclusive growth and addressing income inequality. Policymakers were urged to carefully consider the distributional effects of UBI and implement complementary social policies and institutional arrangements that support labor market participation. Overall, the conclusion underscored the complexity of the relationship between UBI and labor market participation, emphasizing the need for further research and experimentation to fully understand its potential effects and ensure its successful implementation. Unique Contribution to Theory, Practice and Policy: The Behavioural Economics theory, Human Capital theory and the Economic Sociology theory may be used to anchor future studies on the impact of Universal Basic Income on labor market participation. The study provided comprehensive recommendations for policymakers, contributed to theoretical advancements in understanding labor market dynamics, and offered practical insights for the implementation of UBI programs. Policymakers were advised to carefully design UBI policies to balance promoting labor market participation and providing financial security, considering the diverse impacts on different demographic groups. The study highlighted the importance of addressing disincentives to work, promoting inclusive growth, and continuously monitoring and evaluating UBI programs to assess their long-term impact. Additionally, the study emphasized leveraging UBI as a tool for social equity and economic empowerment. Through these recommendations, policymakers were able to make informed decisions to enhance labor market outcomes and socio-economic well-being. Keywords: Universal Basic Income (UBI), Labor Market Participation, Societal Benefits, Distributional Effects, Policy Design, Inclusive Growth
全民基本收入对劳动力市场参与的影响
目的:本研究旨在调查全民基本收入对劳动力市场参与的影响。研究方法:本研究采用案头研究方法。案头研究指的是二手数据或无需实地考察即可收集的数据。案头研究基本上是从现有资源中收集数据,因此,与实地研究相比,案头研究通常被认为是一种低成本技术,因为主要成本涉及行政人员的时间、电话费和目录。因此,本研究依赖于已出版的研究、报告和统计数据。这些二手数据可通过在线期刊和图书馆轻松获取。研究结果:研究结果表明,在全民基本收入对劳动力市场参与的影响方面存在着背景和方法上的差距。初步实证审查表明,必须同时考虑全民基本收入(UBI)对劳动力市场参与的短期和长期影响。虽然一些证据表明,全民基本收入可能导致就业率略有下降,特别是在某些人口群体中或特定情况下,但研究承认实施全民基本收入政策具有更广泛的社会效益和利弊权衡。此外,研究结论还强调,在考虑将全民教育作为促进包容性增长和解决收入不平等问题的工具时,有必要对政策的设计和实施进行细微的调整。结论敦促政策制定者认真考虑全民消费补贴的分配效应,并实施支持劳动力市场参与的补充性社会政策和制度安排。总之,结论强调了 UBI 与劳动力市场参与之间关系的复杂性,强调需要进一步开展研究和实验,以充分了解其潜在影响并确保其成功实施。对理论、实践和政策的独特贡献:行为经济学理论、人力资本理论和经济社会学理论可用于今后有关全民基本收入对劳动力市场参与影响的研究。本研究为政策制定者提供了全面的建议,有助于在理解劳动力市场动态方面取得理论上的进步,并为全民基本收入计划的实施提供了实用的见解。考虑到对不同人口群体的不同影响,建议政策制定者精心设计全民补贴政策,在促进劳动力市场参与和提供经济保障之间取得平衡。研究强调了解决抑制工作的因素、促进包容性增长以及持续监测和评估 UBI 计划以评估其长期影响的重要性。此外,研究还强调了利用全民教育作为实现社会公平和经济赋权的工具。通过这些建议,决策者能够做出明智的决策,以提高劳动力市场成果和社会经济福祉。关键词全民基本收入(UBI)、劳动力市场参与、社会效益、分配效应、政策设计、包容性增长
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