DOI link for Human capital
Human capital book
This chapter focuses on human capital, particularly on those that are captured in levels and trends in country's educational attainment, with reference to the United Nations' Millennium Project and Sustainable Development education goals. It describes the methodology for compiling the Barro-Lee dataset. The Barro-Lee dataset uses a variety of techniques to fill in gaps in observations and educational attainment subcategories, with the purpose to avoid misestimating of average years of schooling. The chapter presents several numerical results. It also focuses on the quality of education, where by using the implicit quality-adjustment method, and examines the findings drawn from the progress of primary, secondary and tertiary education. To combine both the quantity and the quality side of educational attainment, research has been conducted by using the quality indicators to adjust the educational attainment quantity, the quality indicator including test scores, labour earnings or lifetime income.