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Some results from the OECD Human Capital Project and CES Questionnaire
Gang Liu
OECD/STD
Presented at e-Frame Conference, OECD, Paris, 28.06.2012
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The OECD Human Capital Project: An overview
• Background and motivation
• Purpose
• Methodology
• Database
• Empirical results
• Conclusions
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The OECD Human Capital Project: Stock value
Figure 1. Ratios of human and physical capital to GDP, 2006
02468
1012141618
Human capital/GDP Human capital/Physical capital
Note: Estimates for Australia refer to 2001, those for Denmark to 2002.
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The OECD Human Capital Project: Distribution
Figure 2. Real human capital per capita (US$ in thousands) in 2006
0100200300400500600700800900
Human capital per capita (US$ in thousands) GDP per capita (US$ in hundreds)
0100200300400500600700800900
Male Female
0100200300400500600700800900
EDU_0/1/2 EDU_3/4 EDU_5/6
0100200300400500600700800900
AGE_I (15-34) AGE_II (35-54) AGE_III (55-64)
Note: Estimates for Australia refer to 2001 and for Denmark to 2002.
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The OECD Human Capital Project: Driving forces behind the HC evolution
Figure 3. Decomposition of average annual growth of human capital volumes per capita due to age, gender and educational attainment
First-order partial volume index, percentages
-0.8-0.6-0.4-0.20.00.20.40.60.81.01.21.4
Au
stra
lia (
19
97-
20
01
)
Can
ada
(19
97-2
00
6)
Fran
ce (1
99
8-20
07
)
Isra
el (
20
02-2
00
7)
Ital
y (1
99
8-20
06
)
Ko
rea
(19
98-2
00
7)
Ne
w Z
eal
and
(1
99
7-20
07
)
No
rway
(1
99
7-20
06
)
Po
lan
d (1
99
9-20
06
)
Spai
n (
20
01-2
00
6)
UK
(19
97-2
00
7)
US
(19
97-2
00
7)
Age Education Gender HC per capita
Note: For many countries, the contribution from gender is too small to be discernable in the figure.
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CES Questionnaire on Measuring Human Capital: An overview
• Background and motivation
• Purpose
• Response
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CES Questionnaire on Measuring Human Capital: Some findings
• For most countries the purpose of measuring human capital is multiple.
• Data sources used to measure human capital are diverse and many of the estimates are in the form of research results only.
• Only a few countries plan to construct satellite accounts for human capital in general and for educational sector in particular.
• The majority of countries use multiple human capital measures.
• As for the specific physical indicators, conventional indicators drawn from education statistics are widely used.
• For the monetary measures, the income-based approach clearly dominates the cost-based and the residual approaches.
• The main reasons for choosing the cost-based approach are data availability, applicability in the SNA, and no imputation for uncertain future, while the main challenges are the issues related to data.
• The income-based approach is taken because it is regarded as being consistent with the economic theory, and with the way that other assets are measured in the SNA; being the well established and widely employed approach with the possibility for constructing a full-fledged human capital account with volumes, values and prices as basic elements.
