Human Capital Estimates in China: New Panel Data

Transcript:Human Capital Estimates in China: New Panel Data:
Human Capital Estimates in China: New Panel Data on China by Provinces 1985-2010 Haizheng Li School of Economics Georgia Institute of Technology Email: haizheng.li@econ.gatech.edu Qinyi Liu School of Economics and Trade Hunan University Bo Li China Center for Human Capital and Labor Market Research Central University of Finance and Economics Barbara Fraumeni Muskie School of Public Service University of Southern Maine Xiaobei Zhang School of Economics Zhejiang University of Finance and Economics 中国人力资本与劳动经济研究中心 China Center for Human Capital and Labor Market Research Human capital “The knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of personal, social and economic well-being” --OECD, 2001 Importance of Human Capital A central determinant of economic growth Significant contributions to 30 years’ economic growth in China Enhances the ability in Developing technological innovations Adapting and implementing technologies developed Reduce poverty and inequality 2 中国人力资本与劳动经济研究中心 China Center for Human Capital and Labor Market Research Human capital Importance of Human Capital Measurement Trace the distribution and dynamics of human capital Aid empirical studies and policy analysis Promote the creation of human capital satellite account 3 中国人力资本与劳动经济研究中心 China Center for Human Capital and Labor Market Research Human capital measurement Challenges The unique characteristics make it difficult to estimate its value Partial measurements like education are commonly used Lack of data existing method cannot be applied to China Arduous work for data collection, processing and calculation, especially at provincial level Empirical researches desire panel data of human capital Panel data of comprehensive measures of human capital at a state or province level are lacking for most countries including China 4 中国人力资本与劳动经济研究中心 China Center for Human Capital and Labor Market Research Research team and sponsors Research Team (starting in 2008) China Center for Human Capital and Labor Market Research (CHLR) special-term faculty, full-time faculty, doctoral and Master’s student, and staff Sponsors National Natural Science Foundation of China Central University of Finance and Economics 5 中国人力资本与劳动经济研究中心 China Center for Human Capital and Labor Market Research Methodology Jorgenson-Fraumeni Lifetime Income-based Approach Include all aspects of human capital services measured by market value Widely used in measuring a nation’s total human capital stock Argentina (Coremberg, 2010), Australia (Wei, 2007, 2008), Canada (Gu and Wong, 2009), India (Gundimeda et al., 2007), New Zealand (Le, Gibson, and Oxley, 2005), Norway (Liu and Greaker, 2009), Sweden (Ahlroth, Bjorkland, and Forslund, 1997), United Kingdom (O’Mahony and Stevens, 2004 and Jones and Chirpanhura, 2010), and