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Human Capital Policy: Building a Competitive Workforce for 21st Century Thailand

Author

Listed:
  • Ashvin Ahuja

    (Bank of Thailand)

  • Thitima Chucherd

    (Bank of Thailand)

  • Kobsak Pootrakool

    (Bank of Thailand)

Abstract

This paper identifies policy challenges to the skill formation process in Thailand. Specifically, we examine whether the foundation of current policies help foster skill acquisition and prepare our labor force well for heightened competition in the 21st century. Human capital is a major source of competitiveness and growth. Better educated and more able citizens contribute to civic affairs, crime reduction, and intergenerational transfers of skills. We view skill formation as a life-long process and consider 3 major sources of learning: formal schooling, labor market and families. We also draw on a wealth of literature and suggest a comprehensive life-cycle framework for public policies to foster human capital accumulation. Based on the choice of students, parents, trainees and firms, this framework aims to get the incentives right through increased interaction between the labor market, formal education institutions and families.

Suggested Citation

  • Ashvin Ahuja & Thitima Chucherd & Kobsak Pootrakool, 2006. "Human Capital Policy: Building a Competitive Workforce for 21st Century Thailand," Working Papers 2006-04, Monetary Policy Group, Bank of Thailand.
    • Handle: RePEc:bth:wpaper:2006-04
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    Cited by:

    1. Kiatipong Ariyapruchya & Sukonpat Chantapant & Tosapol Apaitan, 2011. "Dealing with Structural Change: A Diagnosis of the Thai Economy," Working Papers 2011-04, Monetary Policy Group, Bank of Thailand.

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