This study examines the effects of educational achievement on structural transition in the Indonesian labour force during the process of recent economic development. The paper provides an overview of the educational policy in Indonesia. Then, it discusses the educational achievement of the...

Low levels of human capital ivnestment in poor countries have important implications for economic growth, distribution, and social conditions -- and competing explanations for the low levels have been suggested. The most prominent explanations cite low returns, parental preferences, cultural...

This article analyses the role of On-the-Job Training - viewed as an investment - in human capital accumulation, its interaction with schooling decisions and its impact on innovation activities. For this purpose, we construct an endogenous innovation model which takes into account two types of...

This paper reviews the origins of the 2 per percent rule, arguing that existing evidence for the rule is not as strong as is often supposed and that in any case it can be a misleading guide to the payoff period in policy applications. In the context of a postulated change in the rate of increase...

In this paper we illustrate the possible normative relevance of the links between human capital and financial assets via an example related to growth. When the financial structure is complete, growth is indeterminate because individual allocations between human capital and a tradable asset are...