Measuring Human Capital
- 1st Edition - July 1, 2021
- Imprint: Academic Press
- Editor: Barbara Fraumeni
- Language: English
- Paperback ISBN:9 7 8 - 0 - 1 2 - 8 1 9 0 5 7 - 9
- eBook ISBN:9 7 8 - 0 - 1 2 - 8 1 9 0 5 8 - 6
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 sustai… Read more
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Request a sales quoteMeasuring 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
- Cover image
- Title page
- Table of Contents
- Copyright
- Part I: Introduction
- Introduction
- I.1: Monetary Measures Projects
- I.2: Indicators-Based Measures Projects
- I.3: Comparison of Human Capital Estimates Among Projects
- I.4: Single-Country Studies
- Part II: Major Measures of Human Capital
- Section II.A: Monetary Measures
- Chapter 1: The Impact of Air Pollution on Human Capital Wealth
- Abstract
- 1.1: Introduction
- 1.2: Data and Methods for Measuring the Impact of Air Pollution on Human Capital
- 1.3: Results
- 1.4: Next Steps for Human Capital and Air Pollution
- Appendix 1.1: Global Wealth Accounts, 1995–2014
- Appendix 1.2: Methodology for Calculating Human Capital Wealth
- Appendix 1.3: Estimates of Human Capital and Wealth for 2014 With Impacts of No Premature Deaths From Air Pollution
- Chapter 2: Global Human Capital: View From Inclusive Wealth
- Abstract
- 2.1: Introduction
- 2.2: Methodology
- 2.3: Results and Discussion
- 2.4: Conclusion and Policy Recommendation
- Annex
- Section II.B: Indexes
- Chapter 3: The World Bank Human Capital Index
- Abstract
- 3.1: Introduction
- 3.2: Methodology of the World Bank Human Capital Index
- 3.3: The Human Capital Index 2020 Update
- 3.4: Discussion
- 3.5: The Measurement Agenda Ahead
- Chapter 4: Human Development: A Perspective on Metrics
- Abstract
- 4.1: Introduction
- 4.2: Human Development and the Capabilities Approach
- 4.3: Measurement Framework of Human Development
- 4.4: Simplicity of the HDI and Related Criticisms
- 4.5: Choice of Indicators for the Human Development Index
- 4.6: Functional Form of the HDI
- 4.7: Summary of the Critiques and a Debate About the Switch to the Geometric Mean
- 4.8: Country Ranking and Classification by HDI
- 4.9: Data Issues and Perspectives
- 4.10: Conclusion
- Chapter 5: Summary of Lim, S. S., et al., “Measuring human capital: A systematic analysis of 195 countries and territories, 1990–2016”
- Abstract
- 5.1: Methods
- 5.2: Results
- 5.3: Discussion
- Chapter 6: Summary of World Economic Forum, “The Global Human Capital Report 2017—Preparing people for the future of work”
- Abstract
- 6.1: Capacity
- 6.2: Deployment
- 6.3: Development
- 6.4: Know-How
- 6.5: Overall Human Capital Index
- 6.6: Income (Gross National Income per Capita)
- 6.7: Brief Summary of Human Capital Components in Other Recent WEF Reports
- 6.8: Conclusion of the WEF 2017 Human Capital Report
- Part III: Country Studies
- Chapter 7: Human Capital of Mainland China, Hong Kong and Taiwan, 1997–2018
- Abstract
- Acknowledgments
- 7.1: Introduction
- 7.2: Human Capital Measurements
- 7.3: Labor Force Composition and Age Structure
- 7.4: Overview of the Education Systems
- 7.5: Education-Based Human Capital Measures
- 7.6: Jorgenson-Fraumeni Measure of Human Capital
- 7.7: Human Capital, GDP and Physical Capital
- 7.8: Human Capital Development and Population Dividends
- 7.9: Conclusion
- Chapter 8: Accumulation of Human and Market Capital in the United States: The Long View, 1948–2013
- Abstract
- 8.1: Human Capital Methodology
- 8.2: Factors Impacting on Human and Market Capital
- 8.3: Overview of the Accounts
- 8.4: Analysis of the Accounts in Nominal Dollars
- 8.5: Analysis of Contributions and Rates of Growths
- 8.6: Conclusion
- Appendix
- Index
- Edition: 1
- Published: July 1, 2021
- Imprint: Academic Press
- No. of pages: 222
- Language: English
- Paperback ISBN: 9780128190579
- eBook ISBN: 9780128190586
BF
Barbara Fraumeni
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.
Affiliations and expertise
Central University of Finance and Economics, Beijing, ChinaRead Measuring Human Capital on ScienceDirect