An alternative approach to the measurement of the Human capital index

Author(s): Craigwell, Roland; Lewis, Denny (1996)

Created 22 Jul, 1996
Categories Working Papers Roland Craigwell Special Collection
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This paper explores an alternative approach to the measurement of human capital, drawing upon the work of Tallman and Wang (1994). The writers formulated this measure in the context of an economic growth model for Taiwan, in which it is suggested that endogenously accumulated human capital has a direct impact on the productivity of labour. The writers found that the incorporation of a labour quality index into the labour input improved the performance of the growth model in Taiwan. They note also that educational attainment levels constitute a better measure of human capital than enrolments, as measures based on educational attainment levels have performed better in empirical studies.

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