IDEAS home Printed from https://ideas.repec.org/a/bla/manchs/v74y2006i5p593-609.html
   My bibliography  Save this article

A Forward-Looking Measure Of The Stock Of Human Capital In New Zealand

Author

Listed:
  • TRINH LE
  • JOHN GIBSON
  • LES OXLEY

Abstract

Human capital is increasingly believed to play an important role in the growth process; however, adequately measuring its stock remains controversial. Because the estimated impact that human capital has on economic growth is sensitive to the measures or proxies of human capital, accurate and consistent measures are needed. While many measures of human capital have been developed, most rely on some proxy of educational experience and are thus plagued with limitations. In this study, we modify the lifetime labour income approach outlined by (The Measurement of Savings, Investment and Wealth, Chicago, IL, University of Chicago Press, 1989, pp. 227-282; Output Measurement in the Services Sector, Chicago, IL, University of Chicago Press, 1992, pp. 303-338) to estimate the monetary value of the human capital stock for New Zealand. Based on data from the New Zealand Census of Population, we find that the country's working human capital grew by half between 1981 and 2001, mostly due to the rise in employment level. This stock of human capital was also well over double that of physical capital in all the census years studied. Copyright © 2006 The Authors; Journal compilation © 2006 Blackwell Publishing Ltd and The University of Manchester.

Suggested Citation

  • Trinh Le & John Gibson & Les Oxley, 2006. "A Forward-Looking Measure Of The Stock Of Human Capital In New Zealand," Manchester School, University of Manchester, vol. 74(5), pages 593-609, September.
  • Handle: RePEc:bla:manchs:v:74:y:2006:i:5:p:593-609
    as

    Download full text from publisher

    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9957.2006.00511.x
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Angel de la Fuente & Rafael Doménech, 2006. "Human Capital in Growth Regressions: How Much Difference Does Data Quality Make?," Journal of the European Economic Association, MIT Press, vol. 4(1), pages 1-36, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:sls:ipmsls:v:33:y:2017:7 is not listed on IDEAS
    2. Jan Kunnas & Nick Hanley & Eoin McLaughlin & David Greasley & Les Oxley & Paul Warde, 2013. "Human capital in the UK, 1760 to 2009," Working Papers 13029, Economic History Society.
    3. Yasir Khan & Attiya Yasmin Javid, 2015. "The Impact of Formal and Informal Institutions on Economic Performance: A Cross-Country Analysis," PIDE-Working Papers 2015:130, Pakistan Institute of Development Economics.
    4. Matthew D Shapiro, 2003. "Has the rate of economic growth changed? Evidence and lessons for public policy," Reserve Bank of New Zealand Discussion Paper Series DP2003/07, Reserve Bank of New Zealand.
    5. Smyslov, Dmitriy, 2007. "A Construction of a Human Capital Indicator of Social Groups," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 6(2), pages 95-125.
    6. Julia Hall & Grant Scobie, 2005. "Capital Shallowness: A Problem for New Zealand?," Treasury Working Paper Series 05/05, New Zealand Treasury.
    7. Michael S. Christian, 2011. "Human Capital Accounting in the United States: Context, Measurement, and Application," BEA Working Papers 0073, Bureau of Economic Analysis.
    8. David Greasley & Nick Hanley & Jan Kunnas & Eoin McLaughlin & Les Oxley & Paul Warde, 2012. "Testing the predictive power of genuine savings as a long-run indicator of future well-being," CEH Discussion Papers 007, Centre for Economic History, Research School of Economics, Australian National University.
    9. Irina Soboleva, 2011. "Patterns of Human Capital Development in Russia: Meeting the Challenge of Market Reforms and Globalization," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 3(2), pages 235-257, July.
    10. Dean Hyslop & Dave Mare & Jason Timmins, 2003. "Qualifications, Employment and the Value of Human Capital, 1986-2001," Treasury Working Paper Series 03/35, New Zealand Treasury.
    11. Greasley, David & Hanley, Nicholas & McLaughlin, Eoin & Oxley, Les & Warde, Paul, 2012. "Testing for long-run "sustainability": Genuine Savings estimates for B ritain, 1760-2000," Stirling Economics Discussion Papers 2012-05, University of Stirling, Division of Economics.
    12. Michael S. Christian, 2014. "Human Capital Accounting in the United States: Context, Measurement, and Application," NBER Chapters,in: Measuring Economic Sustainability and Progress, pages 461-491 National Bureau of Economic Research, Inc.
    13. James Zuccollo & Sholeh Maani & Bill Kaye-Blake & Lulu Zeng, 2013. "Private Returns to Tertiary Education - How Does New Zealand Compare to the OECD?," Treasury Working Paper Series 13/10, New Zealand Treasury.
    14. Gang Liu, 2014. "Measuring the Stock of Human Capital for International and Intertemporal Comparisons," NBER Chapters,in: Measuring Economic Sustainability and Progress, pages 493-544 National Bureau of Economic Research, Inc.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:manchs:v:74:y:2006:i:5:p:593-609. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley Content Delivery) or (Christopher F. Baum). General contact details of provider: http://edirc.repec.org/data/semanuk.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.