This paper develops a new measure of human capital, calculated as a cohort-weighted average of the quality of education (PISA scores) and the quantity of education (mean years of schooling). Contrary to the existing studies, the relative weights of quality and quantity are estimated (and not calibrated). The quality of education is estimated to be…

This study explores the relative impact of human capital formation on economic growth in Nigeria from 1981 to 2014 using time series data of thirty four (34) years. The empirical analysis begins with an investigation of the stationarity of the variables specified under the model specification. Upon which the study used the ARDL bound estimation…

In the course of a study on the impacts of changing early childhood policy in Aotearoa New Zealand since 1989, the illustrations accompanying three major government reports and policies stood out as encapsulating the changes in underlying discourses. This enabled the illustrations from these three policy reports to be used for a historical…

The purpose of this study is to examine whether the human capital theory tenets hold in Central and Eastern European countries (CEEC) that transitioned from socialist regimes to a market-based economy. The modeling approach relied on 18 years (1994-2012) of country level data collected from the World Bank, in order to explore whether the increase…

Empirical evidence suggests that educational attainment nurtures people's social outcomes and promotes active participation in society and stability. However, it is unclear to what extent other types of human capital also correlate with social outcomes. Hence, we explored the opportunity offered by the PIAAC survey through its provision of…

This report reviews the economic literature investigating the effects of the share of immigrants in classes and schools on the school performance of immigrants and natives. The review is organized in four sections. In the first section, we document the recent expansion in the presence of immigrants in European schools, introduce a measure of…

Purpose: The purpose of this paper is to investigate how the quality of teachers based on education and training provided under new reform policies in Malaysia affects their earnings outcomes. The study conducted a benefit and returns analysis guided by human capital theory. Design/methodology/approach: The study used survey research methods to…

Educational change in the neoliberal state is permeated by the effects of forces from outside the field of education itself. The process of governmentality welcomes, indeed demands, the participation of those non-state actors valorised by neoliberalism as well as government agencies dedicated to the advancement of such groups. Inevitably, the…

In Australia, like many western countries, there has been a convergence of education policy around a set of utilitarian and economistic approaches to vocational education and training in schools. Such approaches are based on the assumption that there is a direct relationship between national economic growth, productivity and human capital…

This study leverages human capital theory to identify the correlates of expected returns on investment in higher education at the level of institutions. We leverage estimates of average ROI in post-secondary education among more than 400 baccalaureate degree conferring colleges and universities to understand the correlates of a relatively new…

Purpose: The aim of this article is to explore the phenomenon of gifted migrants in vocational training and education. To date, migrant apprentices have been predominantly discussed from a deficit perspective. Special attention has been given to competence insufficiency and underperformance, as well as to migrant adolescents' lack of professional…

Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and post-secondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation choice that stresses the roles of specificity of human…

Created by the U.S. Congress in 2006, the Teacher Incentive Fund (TIF) represents the first federal initiative targeted directly at state and district efforts to introduce performance measures into educator compensation. TIF responds to a growing body of evidence that existing pay structures do not respond to labor force realities or adequately…

This paper challenges Hanushek and Woessmann's (2008) contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation's average test scores and average schooling attainment are included in a national income model,…

In this paper we analyze the role played by self-confidence, modeled as beliefs about one's ability, in shaping task choices. We propose a model in which fully rational agents exploit all the available information to update their beliefs using Bayes' rule, eventually learning their true type. We show that when the learning process does not…