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Measuring Human Capital: Alternative Methods and International Evidence

Author

Listed:
  • Les OXxley

    (University of Canterbury)

  • Ttrinh Le

    (New Zealand Institute for Economics Research)

  • John Gibson

    (University of Waikato)

Abstract

Human capital is increasingly believed to play an important role in the growth process, however, adequately measuring its stock remains controversial. This paper identifies three general approaches to human capital measurement; cost-based, income-based and education-based, and presents a critical review of the theories and their applications to data from a range of countries. Emphasis on empirical evidence will be given to the case of New Zealand.

Suggested Citation

  • Les OXxley & Ttrinh Le & John Gibson, 2008. "Measuring Human Capital: Alternative Methods and International Evidence," Korean Economic Review, Korean Economic Association, vol. 24, pages 283-344.
    • Handle: RePEc:kea:keappr:ker-20081231-24-2-01
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    References listed on IDEAS

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    3. Pietro Giorgio Lovaglio & Giuseppe Folloni, 2011. "The estimation of Human Capital in structural models with flexible specification," Working Papers 11, AlmaLaurea Inter-University Consortium.
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    9. Giuseppe Folloni & Giorgio Vittadini, 2010. "Human Capital Measurement: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 24(2), pages 248-279, April.
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    11. Daniel L. Millimet & Michael Nieswiadomy & Daniel Slottje, 2010. "Detailed Estimation Of Worklife Expectancy For The Measurement Of Human Capital: Accounting For Marriage And Children," Journal of Economic Surveys, Wiley Blackwell, vol. 24(2), pages 339-361, April.
    12. Foundjem-Tita, Divine & D’Haese, Marijke & Speelman, Stjin & Degrande, Ann & Gyau, Amos & Van Damme, Patrick & Tchoundjeu, Zac & Van Huylenbroeck, Guido, 2014. "Would strictly enforced forestry regulations affect farmers’ stated intentions to plant indigenous fruits trees? Insights from Cameroon," Food Policy, Elsevier, vol. 49(P1), pages 95-106.
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    More about this item

    Keywords

    Human Capital; Economic Growth;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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