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Human Capital, Entrereneurship, and Farm Household Earnings

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  • Yang, Dennis T.
  • An, Mark Yuying

Abstract

Farm households in modern environments engage in multiple productive activities. In this paper we formulate and estimate a profit maximization model in which human capital enhances earnings through both activity-specific effects and across-activity factor allocation. Our purpose is to decompose these contributions. The model is estimated using Chinese household data that contain detailed activity information. We find that schooling and experience improve the allocation of family-supplied inputs between agricultural and non-agricultural uses, counting for 46 percent of their total returns. The evidence suggests that studies ignoring activity choice could substantially undervalue the role of human capital in development.

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Paper provided by Duke University, Department of Economics in its series Working Papers with number 97-03.

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Date of creation: 1997
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Handle: RePEc:duk:dukeec:97-03

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  1. Huffman, Wallace E, 1977. "Allocative Efficiency: The Role of Human Capital," The Quarterly Journal of Economics, MIT Press, vol. 91(1), pages 59-79, February.
  2. Yang, Dennis T., 1995. "Education in Production: Measuring Labor Quality and Management," Working Papers 95-56, Duke University, Department of Economics.
  3. Lau, Lawrence J & Yotopoulos, Pan A, 1971. "A Test for Relative Efficiency and Application to Indian Agriculture," American Economic Review, American Economic Association, vol. 61(1), pages 94-109, March.
  4. George Psacharopoulos, 1985. "Returns to Education: A Further International Update and Implications," Journal of Human Resources, University of Wisconsin Press, vol. 20(4), pages 583-604.
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  7. Schmidt, Peter & Knox Lovell, C. A., 1979. "Estimating technical and allocative inefficiency relative to stochastic production and cost frontiers," Journal of Econometrics, Elsevier, vol. 9(3), pages 343-366, February.
  8. Huffman, Wallace, 1980. "Farm and Off-Farm Work Decisions: The Role of Human Capital," Staff General Research Papers 10973, Iowa State University, Department of Economics.
  9. Hymer, Stephen H & Resnick, Stephen, 1969. "A Model of an Agrarian Economy with Nonagricultural Activities," American Economic Review, American Economic Association, vol. 59(4), pages 493-506, Part I Se.
  10. Behrman, Jere R. & Deolalikar, Anil B., 1988. "Health and nutrition," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 14, pages 631-711 Elsevier.
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  12. Phillips, Joseph M, 1994. "Farmer Education and Farmer Efficiency: A Meta-Analysis," Economic Development and Cultural Change, University of Chicago Press, vol. 43(1), pages 149-65, October.
  13. J. Edward Taylor & Antonio Yunez-Naude, 2000. "The Returns from Schooling in a Diversified Rural Economy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 287-297.
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  15. Schultz, T. Paul, 1988. "Education investments and returns," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 13, pages 543-630 Elsevier.
  16. Yang, Dennis Tao, 1997. "Education and Off-Farm Work," Economic Development and Cultural Change, University of Chicago Press, vol. 45(3), pages 613-32, April.
  17. Rosenzweig, Mark R, 1980. "Neoclassical Theory and the Optimizing Peasant: An Econometric Analysis of Market Family Labor Supply in a Developing Country," The Quarterly Journal of Economics, MIT Press, vol. 94(1), pages 31-55, February.
  18. Mark Rosenzweig & Andrew D. Foster, . "Learning by Doing and Learning from Others: Human Capital and Technical Change in Agriculture," Home Pages _068, University of Pennsylvania.
  19. Wim P. M. Vijverberg, 1993. "Educational Investments and Returns for Women and Men in Côte d'Ivoire," Journal of Human Resources, University of Wisconsin Press, vol. 28(4), pages 933-974.
  20. Pitt, Mark M & Sumodiningrat, Gunawan, 1991. "Risk, Schooling and the Choice of Seed Technology in Developing Countries: A Meta-Profit Function Approach," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(2), pages 457-73, May.
  21. Strauss, John & Thomas, Duncan, 1995. "Human resources: Empirical modeling of household and family decisions," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 3, chapter 34, pages 1883-2023 Elsevier.
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