Measuring Human Capital

Barbara M. Fraumeni is Special-term Professor of the China Center for Human Capital and Labor Market Research of the Central University of Finance and Economics, Beijing, China; Research Associate of the National Bureau of Economic Research, Cambridge, MA, USA, IZA Research Fellow, Bonn, Germany and Professor Emerita of the Muskie School of Public Service of the University of Southern Maine, Portland, ME, USA. She has conducted research in the area of economic growth, productivity, and human and nonhuman capital. A long-time associate of Dale W. Jorgenson, the Samuel W. Morris University Professor at Harvard University, she co-authored with him an early KLEM article in 1981, their three seminal articles on human and nonhuman capital in the late eighties and early nineties, also with him and Frank Gollop the book: "Productivity and U.S. Economic Growth" in 1987. In between academic appointments, she served as Chief Economist of the Bureau of Economic Analysis from 1999 to 2005. In that position she was awarded with others a U.S. Department of Commerce gold medal for capitalizing R&D in GDP. For the past 10 years, she has worked with Chinese researchers to produce estimates of human capital for China. Most recently, she served as a consultant to the World Bank to advise them in their construction of Jorgenson-Fraumeni human capital for 141 countries, which were released as part of their wealth estimates publication in early 2018.

• I. Introduction Introduction II. Major Measures of Human Capital II.A. Monetary Measures 1. The Impact of Air Pollution on Human Capital and National Wealth in Developing Countries 2. Global Human Capital: View from Inclusive Wealth II.B. Indexes 3. The World Bank Human Capital Index 4. Human Development and Human Capital: A Perspective on Concepts and Metrics 5. Summary of Lim, S. S., et al.,"Measuring human capital: a systematic analysis of 195 countries and territories, 1990–2016" 6. Summary of World Economic Forum, "The global human capital report 2017 - Preparing people for the future of work" III. Country Studies 7. Human Capital in Mainland China, Hong Kong, and Taiwan: 1985-2017 8. Accumulation of Human and Market Capital: The Long View, 1948-2013