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Cost- and Income-based Measures of Human Capital (2003)

Le, Trinh ; Gibson, John ; Oxley, Les

Oxford, UK : Blackwell Publishing Ltd

Journal of economic surveys 17 (2003), S. 0

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ISSN: 1467-6419

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Economics

Notes: Human capital is increasingly believed to play an important role in the growth process, however, adequately measuring its stock remains controversial. In this paper three general approaches to measurement are identified; cost-based, income-based and educational stock-based. This survey focuses on the first two approaches and provides a critical review of the theories and their applications to data from a range of countries. Particular emphasis is placed upon the work of Jorgenson and Fraumeni (1989, 1992) and some new results for New Zealand based upon their approach are also presented.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/1467-6419.00196

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