The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Specifying Human Capital
Abstract
A review of the measures of the stock of human capital used in empirical growth research – including adult literacy rates, school enrollment ratios, and average years of schooling of the working‐age population – reveals that human capital is mostly poorly proxied. The simple use of the most common proxy, average years of schooling, misspecifies the relationship between education and the stock of human capital. Based on human capital theory, the specification of human capital is extended to allow for decreasing returns to education and for differences in the quality of a year of education. The different specifications give rise to hugely differing measures of the stock of human capital across countries, and development‐accounting results show that misspecified human capital measures can lead to severe underestimation of the development effect of human capital.
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Cites
On the mechanics of economic development
Lucas, R. E. (1988) · Journal of Monetary Economics · doi:10.1016/0304-3932(88)90168-7 · Cited by 24,085
Technical Change and the Aggregate Production Function
Solow, R. M. (1957) · The Review of Economics and Statistics · doi:10.2307/1926047 · Cited by 12,259
The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988
Summers, R., & Heston, A. (1991) · The Quarterly Journal of Economics · doi:10.2307/2937941 · Cited by 3,429
Carneiro, P. M., & Heckman, J. J. (2003) · doi:10.2139/ssrn.434544 · Cited by 1,325
Metadata
- Authors
- Wößmann, L.
- Venue
- Journal of Economic Surveys
- Publisher
- Wiley
- Published
- 2003-06-03
- Volume
- 17
- Issue
- 3
- Pages
- 239-270
- ISSN
- 0950-0804 (ISSN-L)
- 1467-6419
- OpenAlex
- W2107976106
- Cited by
- 468
- References
- 4
- FWCI
- 54.88
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
