Skills, Human Capital, and Economic Development

This paper presents a skills index for developing countries in Asia as a first step toward developing a Global Skills Index. The Asian Skills Index is roughly modeled on the European Skills Index for Organisation for Economic Co-operation and Devel...

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Main Authors: Raju, Sudhakar, Sosale, Shobhana
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2022
Subjects:
Online Access:http://documents.worldbank.org/curated/en/099711405022213873/IDU0a3c8b36905b5804c630ac440bfd816339016
http://hdl.handle.net/10986/37399
id okr-10986-37399
recordtype oai_dc
spelling okr-10986-373992022-05-06T05:10:33Z Skills, Human Capital, and Economic Development Raju, Sudhakar Sosale, Shobhana SKILLS DEVELOPMENT HUMAN CAPITAL ECONOMIC DEVELOPMENT EDUCATION ACCESS TO EDUCATION EDUCATION GLOBAL PRACTICE ASIAN SKILLS INDEX LABOR MARKET ECONOMIC GROWTH ECONOMIC DEVELOPMENT ECONOMIC MODELS EDUCATION QUALITY ANALYSIS TRENDS IN INTERNATIONAL MATHEMATICS AND SCIENCE STUDY (TIMSS) PROGRAM FOR INTERNATIONAL STUDENT ACHIEVEMENT (PISA) SKILLS INDEX UNEMPLOYMENT OF HIGHLY EDUCATED This paper presents a skills index for developing countries in Asia as a first step toward developing a Global Skills Index. The Asian Skills Index is roughly modeled on the European Skills Index for Organisation for Economic Co-operation and Development countries. However, the Asian Skills Index is substantially more complicated to develop. In addition to data limitations, the Asian Skills Index incorporates several structural and institutional features of labor markets in Asian countries, such as vulnerable employment and unemployment among the highly educated, which are specific to Asian countries. In addition, the newly developed learning-adjusted years of schooling indicator plays an integral role in the Asian Skills Index. Using the k-means clustering algorithm, the paper identifies a comparable group of Asian developing countries for which it develops an index of the country’s skills system. While studies on human capital focus only on education, the Asian Skills Index is a more comprehensive construct since it goes beyond just education and skills development. By incorporating labor market conditions within which education and skills can thrive and be translated into productive output, a skills system provides crucial economic context for the human capital development process. Using the Asian Skills Index, the paper provides some economic estimates and policy recommendations. 2022-05-05T18:22:41Z 2022-05-05T18:22:41Z 2022-05 Working Paper http://documents.worldbank.org/curated/en/099711405022213873/IDU0a3c8b36905b5804c630ac440bfd816339016 http://hdl.handle.net/10986/37399 English Policy Research Working Paper;10032 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Policy Research Working Paper Publications & Research East Asia and Pacific Asia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic SKILLS DEVELOPMENT
HUMAN CAPITAL
ECONOMIC DEVELOPMENT
EDUCATION
ACCESS TO EDUCATION
EDUCATION GLOBAL PRACTICE
ASIAN SKILLS INDEX
LABOR MARKET
ECONOMIC GROWTH
ECONOMIC DEVELOPMENT
ECONOMIC MODELS
EDUCATION QUALITY ANALYSIS
TRENDS IN INTERNATIONAL MATHEMATICS AND SCIENCE STUDY (TIMSS)
PROGRAM FOR INTERNATIONAL STUDENT ACHIEVEMENT (PISA)
SKILLS INDEX
UNEMPLOYMENT OF HIGHLY EDUCATED
spellingShingle SKILLS DEVELOPMENT
HUMAN CAPITAL
ECONOMIC DEVELOPMENT
EDUCATION
ACCESS TO EDUCATION
EDUCATION GLOBAL PRACTICE
ASIAN SKILLS INDEX
LABOR MARKET
ECONOMIC GROWTH
ECONOMIC DEVELOPMENT
ECONOMIC MODELS
EDUCATION QUALITY ANALYSIS
TRENDS IN INTERNATIONAL MATHEMATICS AND SCIENCE STUDY (TIMSS)
PROGRAM FOR INTERNATIONAL STUDENT ACHIEVEMENT (PISA)
SKILLS INDEX
UNEMPLOYMENT OF HIGHLY EDUCATED
Raju, Sudhakar
Sosale, Shobhana
Skills, Human Capital, and Economic Development
geographic_facet East Asia and Pacific
Asia
relation Policy Research Working Paper;10032
description This paper presents a skills index for developing countries in Asia as a first step toward developing a Global Skills Index. The Asian Skills Index is roughly modeled on the European Skills Index for Organisation for Economic Co-operation and Development countries. However, the Asian Skills Index is substantially more complicated to develop. In addition to data limitations, the Asian Skills Index incorporates several structural and institutional features of labor markets in Asian countries, such as vulnerable employment and unemployment among the highly educated, which are specific to Asian countries. In addition, the newly developed learning-adjusted years of schooling indicator plays an integral role in the Asian Skills Index. Using the k-means clustering algorithm, the paper identifies a comparable group of Asian developing countries for which it develops an index of the country’s skills system. While studies on human capital focus only on education, the Asian Skills Index is a more comprehensive construct since it goes beyond just education and skills development. By incorporating labor market conditions within which education and skills can thrive and be translated into productive output, a skills system provides crucial economic context for the human capital development process. Using the Asian Skills Index, the paper provides some economic estimates and policy recommendations.
format Working Paper
author Raju, Sudhakar
Sosale, Shobhana
author_facet Raju, Sudhakar
Sosale, Shobhana
author_sort Raju, Sudhakar
title Skills, Human Capital, and Economic Development
title_short Skills, Human Capital, and Economic Development
title_full Skills, Human Capital, and Economic Development
title_fullStr Skills, Human Capital, and Economic Development
title_full_unstemmed Skills, Human Capital, and Economic Development
title_sort skills, human capital, and economic development
publisher World Bank, Washington, DC
publishDate 2022
url http://documents.worldbank.org/curated/en/099711405022213873/IDU0a3c8b36905b5804c630ac440bfd816339016
http://hdl.handle.net/10986/37399
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