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Measuring Human Capital addresses these issues, making it an excellent resource for students and researchers worldwide working on all economic disciplines, and especially international economics, labor economics, and the economics of innovation. Accurately measuring economic data is the first step toward successfully analysing them. For many years economists used the Gross National Product (GDP), now acknowledged to be inadequate, to measure a country’s overall value. The recognition that many variables contribute to a country’s value make accurate measurement difficult, as does recognizing the limits, methodological and otherwise, of measurement strategies. Being able to measure the same variables in all countries and economies is another challenge to economists, for without accurate data it is not possible to coordinate efforts within and across economies.
- Demonstrates how an approach based on sources of economic growth (KLEMS – capital, labor, energy, materials, and services) can be used to analyze economic growth and productivity
- Covers examples from the G7, E7, EU, Latin America, Norway, China, Taiwan, Japan, Korea, India and other South Asian countries
- Examines the effects of digital, information, communication and integrated technologies on national and regional economies
Upper-division undergraduates, graduate students, and researchers working on global economic growth and productivity issues
I. Global studies
• Monetary measures
• Education measures (maybe)
II. Individual Country Studies
- No. of pages:
- © Academic Press 2021
- 1st March 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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