Education, Risk and Efficiency in Human Capital Investment
AbstractUniversity of York Beijing Normal University The efficiency of the process of investment in human capital through education is of considerable importance both to the individuals involved and to the wider economy. The paper develops an analytical framework in which issues of the efficiency of such investment can be considered alongside its interface with the operations of the labour market, and in which the risks posed by such educational investments when the labour market is less than fully efficient can be analysed. These issues are of particular relevance in the context of the major expansions in higher education which have taken place in recent years, not least in China, which is now second in its share of all 25 â€“ 64 year olds internationally with tertiary education. The paper therefore complements its theoretical analysis with an empirical investigation of the risk factors which impact on the efficiency of this large-scale educational investment for individual graduates and for the wider economy
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Bibliographic InfoPaper provided by Department of Economics, University of York in its series Discussion Papers with number 12/15.
Date of creation: May 2012
Date of revision:
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Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
Phone: (0)1904 323776
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More information through EDIRC
Human capital investment; higher education; graduate overeducation; risk factors; educational expansion in China.;
Find related papers by JEL classification:
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-06-13 (All new papers)
- NEP-DEV-2012-06-13 (Development)
- NEP-EDU-2012-06-13 (Education)
- NEP-HRM-2012-06-13 (Human Capital & Human Resource Management)
- NEP-LAB-2012-06-13 (Labour Economics)
- NEP-TRA-2012-06-13 (Transition Economics)
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