Human Capital Accumulation at Work : Estimates for the World and Implications for Development
In this paper, the authors: (i) study wage-experience profiles and obtain measures of returns to potential work experience using data from about 24 million individuals in 1,084 household surveys and census samples across 145 countries; (ii) show that returns to work experience are strongly correlated with economic development—workers in developed countries appear to accumulate twice more human capital at work than workers in developing countries; (iii) use a simple accounting framework to find that the contribution of work experience to human capital accumulation and economic development might be as important as the contribution of education itself; and (iv) employ panel regressions to investigate how changes in the returns over time correlate with several factors such as economic recessions, transitions, and human capital stocks.
| Main Authors: | , , , |
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| Format: | Working Paper biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021-09
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| Subjects: | RETURNS TO EDUCATION, RETURNS TO EXPERIENCE, HUMAN CAPITAL, ECONOMIC DEVELOPMENT, LABOR MARKET, DEVELOPMENT ACCOUNTING, |
| Online Access: | http://documents.worldbank.org/curated/undefined/206471632935956594/Human-Capital-Accumulation-at-Work-Estimates-for-the-World-and-Implications-for-Development http://hdl.handle.net/10986/36315 |
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| Summary: | In this paper, the authors: (i) study
wage-experience profiles and obtain measures of returns to
potential work experience using data from about 24 million
individuals in 1,084 household surveys and census samples
across 145 countries; (ii) show that returns to work
experience are strongly correlated with economic
development—workers in developed countries appear to
accumulate twice more human capital at work than workers in
developing countries; (iii) use a simple accounting
framework to find that the contribution of work experience
to human capital accumulation and economic development might
be as important as the contribution of education itself; and
(iv) employ panel regressions to investigate how changes in
the returns over time correlate with several factors such as
economic recessions, transitions, and human capital stocks. |
|---|