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INSTITUTE OF MANPOWER DYNAMICS (IMD) |
IMD works to advance the knowledge for human resource development of Pakistan in order to ensure the well-being of the current and future generations. It helps the decision makers in policy making.
Human capital per individual (“h”) can be defined as a function of educational attainment (“A”) and the additional compensation overtime of this training, which is assumed to be equivalent to the interest rate (“p”). It is additionally assumed that the amount of human capital per person increase exponentially with the interest rate and the average educational attainment per person – consistent with an economy in steady state.
h = e(p.A)
“A” is represented by the average years of schooling per person. [Liu, yanping: Journal of Sustainable Development, vol. 3, No. 4, December 2010]
TECH-BRIEFS
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