Using data from the National Transfer Accounts, the authors analyze the impact of human capital spending on income inequality and economic growth in middle-income Asia. They find that human capital has a significant effect on labor productivity and, hence, output. The effect is more pronounced for poorer households, pointing to a positive link between human capital and inclusive growth in Asia.
- Empirical Framework
- Empirical Evidence from the Philippines Case Study
- Empirical Evidence from Simulation Results for Asia
- Concluding Observations