Abstract:
This study aims to estimate the magnitude of economic loss from work accidents, and obtain determinants of work injury rate in Thailand. Human Capital Approach is applid based on secondary data of approved work injuries in 2000. Economic loss is comprised of direct loss, paid in the form of medical treatment cost and rehabilitation cost from the Workmen's Compensation Fund (WCF), and indirect loss whoch is the earning loss resulted from premature death, permanent total or partial disability, or temporary disability. The ordinary least square method is applied to obtain the determinants on work injury rate. The study reveals that the direct loss from work accidents is 458.79 million baht. The indirect loss ranges from 2,276.29 million to 5,274.35 million baht, representing 5.96 to 12.5 times greater than the direct loss when 6%-12% of earning growth rates are applied respectively. Total economic loss ranges from 2,735.08 million to 5,733.16 million baht, representing 0.05% to 0.117% of Thailand GDP. The average economic loss per worker ranges from 0.70% to 1.46% of the average employees' annual earnings. The result indicates that domestic products of non-agricultural sector have significant positive effect while the economic crisis has significant negative effect on the work injury rate. The GDP growth, the Ministry of Labour and Social Welfare notification on safety committee, WCF coverage, and budget allocated to occupational health and safety promotions have non-significant negative effects. Safety inspection coverage has non-significant positive effect on work injuries rate.
