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Measuring human capital: Learning matters more than schooling

Summary:
Noam Angrist, Simeon Djankov, Pinelopi Goldberg and Harry Patrinos in this voxeu research: Human capital is a critical component of economic development. But the links between growth and human capital – when measured by years of schooling – are weak. This column introduces a better measurement, using a database that directly measures learning and represents 98% of the global population. The authors find that the link between economic development and human capital is strong when measured in this way. They also show that global progress in learning has been limited over the past two decades, even as enrolment in primary and secondary education has increased. This should be obvious to humanity. But isn’t perhaps and needs research to show the obvious…

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Noam Angrist, Simeon Djankov, Pinelopi Goldberg and Harry Patrinos in this voxeu research:

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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