The global human capital outlook depends greatly on improvements in the average education level of countries. Human capital, from better education, matters for economic growth, welfare, and happiness, but the significance of this relationship varies according to countries. This study uses the panel data of human capital over the period of 1990-2014 for 140 countries. The human capital data are constructed by using the information of average years of total schooling per person and from the present value of the average labor payment and the expected working period in life. This study also represents a comparative analysis between human capital and GDP per capita, the Human Development Index (HDI), genuine savings, and happiness. Finally, this study identifies the contribution of human capital in the global aggregate wealth composition.
|Title of host publication
|Measuring Human Capital
|Number of pages
|Published - Jan 1 2021
All Science Journal Classification (ASJC) codes
- Economics, Econometrics and Finance(all)
- General Business,Management and Accounting