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Why: Drivers for Human Capital Measurement

Why: Drivers for Human Capital Measurement. Wulong Gu Economic Analysis Division Statistics Canada. The CES Plenary Session on “Measuring Human Capital” 14-16 June, 2011. The measurement of human capital informs policy debates in the areas outlined by the organizer of the session:

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Why: Drivers for Human Capital Measurement

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  1. Why: Drivers for Human Capital Measurement Wulong Gu Economic Analysis Division Statistics Canada The CES Plenary Session on “Measuring Human Capital” 14-16 June, 2011

  2. The measurement of human capital informs policy debates in the areas outlined by the organizer of the session: Economic growth; sustainable development; education sector output and productivity; and economic well-being of individuals Future direction in the measurement of human capital Outline Statistics Canada • Statistique Canada

  3. Measurement of human capital investment in the National Accounts allows us to quantity the contribution of investment in human capital to economic growth. The Canadian Productivity Accounts of Statistics Canada regularly publishes an index of labour input and labour composition that captures the effect of investment in human capital on economic growth. Investment in human capital accounted for about a quarter of labour productivity growth in the Canadian business sector since 1961. Human capital and economic growth Statistics Canada • Statistique Canada

  4. The proper measurement of human capital is essential for our understanding of sustainable development as human capital is pre-dominant form of a nation’ total wealth (World Bank, 2011). The wealth accounts published by statistical agencies excludes human capital. It needs to be expanded to address the issue of sustainability. Our research produced a measure of human capital stock that can be combined with the Wealth Accounts to provide a more comprehensive measure of total wealth. Human capital and sustainable development Statistics Canada • Statistique Canada

  5. Measurement of human capital facilitates the measure of the real output volume of the education sector in the National Accounts. Statistical agencies have made advances in the measurement of education sector output and productivity performance in recent years. A key to such advances is to recognize the expenditures in the education sector as investments in human capital. Investment in human capital and education output Statistics Canada • Statistique Canada

  6. A comprehensive treatment of human capital includes the estimates of both benefits and costs associated with investment in education. The benefits and costs associated with investment in education can be used to generate returns to education and provide information that is useful for evaluations of the efficacy of investments in education. Human capital and returns to education Statistics Canada • Statistique Canada

  7. Specific types of human capital and their contribution to economic growth and productivity growth Scientists and engineers managers training Quality of human capital and quality of education Estimates of human capital investment and stock at the sub-national level Future directions in the measurement of human capital Statistics Canada • Statistique Canada

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