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- Human capital can be broadly defined as the stock of knowledge, skills and other personal characteristics embodied in people that helps them to be productive.
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The Organisation for Economic Co-operation and Development (OECD; French: Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade.
As the new human capital measure is built on years of schooling and rates of return to education, policies influencing education matter. The empirical analysis shows that the following educational policies tend to boost human capital at the country level ( Égert, Botev and Turner, 2019 ):
We provide leadership in key areas at the request of governments, such as on tax avoidance, the fight against corruption, and digital transformation which can only be tackled through cross-border approaches. We help to foster effective international co-operation that improves economic outcomes and everyday lives.
The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives. Our goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.
Human capital is widely regarded as a fundamental input in the theoretical growth literature (Jones, 2016). In statistical decompositions, human capital explains a significant part of economic growth and cross-country per capita income differences (Hall and Jones, 1999; Baier et al., 2006).
Human Capital refers to the knowledge, competencies, skills and health status of individuals, which are viewed here from the perspective of their contribution to future well-being. The performance of OECD countries regarding human capital is mixed.
Organisation for Economic Co -operation and Development EDU/EDPC(2022)2 For Official Use English - Or. English 2 February 2022 DIRECTORATE FOR EDUCATION AND SKILLS EDUCATION POLICY COMMITTEE The importance of human capital for economic outcomes Virtual meeting, 16 February 2022, 12:00 ± 16:00 (CET, Paris time)
