Human Capital Creation in an Economic Perspective
The past few decades have seen a revolutionary increase in interest in the economic role of education and training at the societal, business, and individual levels. This is mainly due to the strong post-war growth in industrialized economies, which has be
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ETLA -The Research Institute of the Finnish Economy Series B102 (ISSN 0356-7443)
The Research Institute ofthe Finnish Economy (ETLA) was founded in 1946 to conduct research in the fields of economics, business and social policy designed to serve financial and economic-policy decision making. At present the members ofthe association sponsoring ETLA are the central association of industry and employers, major banks and the central association of insurance companies. ETLAalso conducts special studies financed from sources outside the association,forwhich a separate unit has been established. ETLA publishes monographs, reviews and forecasts in several ditTerent series. Address: ETLA, LOnnrotinkatu 4 B, FIN-00120 Helsinki, Finland Telephone 358-0-609900 Telefax 358-0-601753
Previous Volumes Published in Association with ETLA, Helsinki Synnove Vuori and Pentti Vuorinen (Eds.) Explaining Technical Change in a Small Country
Rita Asplund (Ed.)
Human Capital Creation • man Economic Perspective With 20 Figures
Springer-Verlag Berlin Heidelberg GmbH
Dr. Rita Asplund
ETLA The Research Institute ofthe Finnish Economy LOnnrotinkatu 4 B FIN-00120 Helsinki Finland
ISBN 978-3-7908-0815-5 ISBN 978-3-642-99776-1 (eBook) DOI 10.1007/978-3-642-99776-1 This work is subject to copyright. Ali rights are reserved, whetherthewhole orpart ofthe material is concemed, specifically the rights oftranslation, reprinting, reuse of iIIustrations, recitation, broadcasting, reproduction on microfilms or in other ways, and storage in data banks. Duplication of this publication orparts thereofis only permitted underthe provisions ofthe German Copyright Lawof September9, 1965, in its version ofJune 24, 1985,and a copyright fee must always be paid. Violations fali under the prosecution act of the German Copyright Law.
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FOREWORD The past few decades have seen a revolutionary increase in interest in the economic role of education and training at the societal, business, and individual levels. This is mainly due to the strong post-war growth in industrialized economies, which has been driven by rapid technological progress and far-reaching structural change and, in the end, has resulted in increasingly skill-intensive production and growing demandfor more educated labour. Today it is frequently argued that with the increasing importance of the role of know-how, the workforce has become the most important single input in the production process. Simultaneously the dramatic increase in the availability of large micro-Ievel databases has opened enormous possibilities to study the economic role of human capital creation also empirically. The economic perspective of huma
