On Measuring Human Capital: A Case Study of Viet Nam

37 Pages Posted: 25 Sep 2012

Date Written: September 1, 2012

Abstract

Human capital refers to the ability and efficiency of people to transform raw materials and capital into goods and services, the consensus being that these skills can be learned through the educational system. The concept of human capital, necessarily, is related to the productivity of workers. Thus, this paper develops a productivity-based single measure of human capital, taking account of different levels of education and productivity differentials across workers. Using this new measure, the paper presents empirical estimates of human capital in Viet Nam and compares the stock of human capital contributed by vocational education and general education. The paper extends its analysis by investigating the extent to which human capital is utilized at different levels of education in the labor market. It also deals with equity in human capital, particularly as contributed by vocational education, and measures this equity across income quintiles and various socioeconomic and demographic groups in Viet Nam.

Keywords: capital, human capital, equity, vocational education, goods and services, labor market, employment, inequality, skills, worker productivity, socioeconomic groups, viet nam

JEL Classification: J24, O4, O15

Suggested Citation

Son, Hyun H., On Measuring Human Capital: A Case Study of Viet Nam (September 1, 2012). Asian Development Bank Economics Working Paper Series No. 311. Available at SSRN: https://ssrn.com/abstract=2151102 or http://dx.doi.org/10.2139/ssrn.2151102

Hyun H. Son (Contact Author)

Asian Development Bank ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

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