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Measuring Human Capital addresses a country’s most important resource: its own people. Bettering human capital benefits individuals and their country and leads to improved sustainability for the future. For many years economists only used Gross Domestic Product (GDP), now acknowledged to be inadequate without supplemental measures, to gauge a country’s overall value. There is now a recognition that many variables contribute to a country’s worth, which make accurate measurement difficult. Looking beyond GDP by focusing on human capital, researchers, policymakers, government officials, and students can understand what elements impact human capital and how they might improve it in order to increase economic growth and well-being.
- Addresses six major measures of human capital, covering at least 130 countries
- Describes both monetary and index estimates
- Includes two monetary measures by the World Bank and the Inclusive Wealth Report by UNEP and the Urban Institute of Kyushu University
- Includes four index measures by the Institute for Health Metrics and Evaluation of the University of Washington, United Nations Development Programme, World Economic Forum, and World Bank
- Includes two country chapters, one on China and the other on the United States
Upper-division undergraduates, graduate students, researchers, policymakers and government officials concerned with economic growth and well-being
II. Major Measures of Human Capital
II.A. Monetary Measures
1. The Impact of Air Pollution on Human Capital and National Wealth in Developing Countries
2. Global Human Capital: View from Inclusive Wealth
3. The World Bank Human Capital Index
4. Human Development and Human Capital: A Perspective on Concepts and Metrics
5. Summary of Lim, S. S., et al.,"Measuring human capital: a systematic analysis of 195 countries and territories, 1990–2016"
6. Summary of World Economic Forum, "The global human capital report 2017 - Preparing people for the future of work"
III. Country Studies
7. Human Capital in Mainland China, Hong Kong, and Taiwan: 1985-2017
8. Accumulation of Human and Market Capital: The Long View, 1948-2013
- No. of pages:
- © Academic Press 2021
- 1st July 2021
- Academic Press
- Paperback ISBN:
Barbara M. Fraumeni is Special-term Professor of the China Center for Human Capital and Labor Market Research of the Central University of Finance and Economics, Beijing, China; Research Associate of the National Bureau of Economic Research, Cambridge, MA, USA, IZA Research Fellow, Bonn, Germany and Professor Emerita of the Muskie School of Public Service of the University of Southern Maine, Portland, ME, USA. She has conducted research in the area of economic growth, productivity, and human and nonhuman capital. A long-time associate of Dale W. Jorgenson, the Samuel W. Morris University Professor at Harvard University, she co-authored with him an early KLEM article in 1981, their three seminal articles on human and nonhuman capital in the late eighties and early nineties, also with him and Frank Gollop the book: "Productivity and U.S. Economic Growth" in 1987. In between academic appointments, she served as Chief Economist of the Bureau of Economic Analysis from 1999 to 2005. In that position she was awarded with others a U.S. Department of Commerce gold medal for capitalizing R&D in GDP. For the past 10 years, she has worked with Chinese researchers to produce estimates of human capital for China. Most recently, she served as a consultant to the World Bank to advise them in their construction of Jorgenson-Fraumeni human capital for 141 countries, which were released as part of their wealth estimates publication in early 2018.
Central University of Finance and Economics, Beijing, China
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