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Measures of Human Capital: A Review of the Literature - WP 05/10

Publication Details

  • Measures of Human Capital: A Review of the Literature
  • Published: Nov 2005
  • Status: Current
  • Authors: Gibson, John K; Le, Trinh; Oxley, Les
  • JEL Classification: J24; O47
  • Hard copy: Available in PDF format only.
 

Measures of Human Capital: A Review of the Literature

New Zealand Treasury Working Paper 05/10

Published Nov 2005

Authors: Trinh Le, John Gibson and Les Oxley

Abstract

Human capital is increasingly believed to play an important role in the growth process, however, adequately measuring its stock remains controversial. This paper identifies three general approaches to human capital measurement; cost-based, income-based and education-based, and presents a critical review of the theories and their applications to data from a range of countries. Emphasis on empirical evidence will be given to the case of New Zealand.

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