Measuring the UK's human capital stock

Jones, Richard J.; Chiripanhura, Blessing

doi:10.1057/elmr.2010.155

Cited by 11 publications

(6 citation statements)

References 47 publications

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“…Although this study is somewhat controversial, Ebenstein [ 39 ] came to the same conclusion after improving the monitoring data: heavy pollution significantly increases the probability of heart and lung disease, thereby reducing life expectancy. Richard [ 40 ] found that in the UK, the human health level was affected by environmental quality, and the human health level was related to labor participation, which had a significant impact on economic output. Therefore, he concluded that environmental quality has an impact on economic output.…”

Section: Methodsmentioning

confidence: 99%

The impact of green credit on economic growth—The mediating effect of environment on labor supply

et al. 2021

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Background The progress of green credit in China is accelerating, but its development is uneven and insufficient in different regions. And whether the issuance of green credit can effectively promote the improvement of the environment and economy is not well understood. Objective Previous research has found that green credit promotes economic growth through improvement of the industrial structure and green technological innovation. However, these studies have not considered the positive externality of environmental improvement even though environmental improvement and economic growth are requirements of the sustainable development concept. Methods We use the chain-mediated model to estimate the impact of green credit issuance on the economic growth of different provinces since the large-scale implementation of green credit in China with data from 2008 to 2016. Results and conclusion This paper shows that the issuance of green credit can improve labor supply rather than labor productivity through the improvement of air quality to achieve regional economic growth. Such a chain-mediated path is different from the economic growth caused by industrial structural adjustment and green technology innovation. At the national level, every 1% increase in green credit issuance relative to industrial loans will increase the per capita gross domestic product (GDP) by approximately 4.6 yuan, or 0.012%, through air quality and labor supply, accounting for 2.875% of the total effect. Heterogeneity analysis indicates that due to regional industrial structure differences and diminishing marginal effects, the impact of green credit is stronger in the western region than in the eastern and central regions. For every 1% increase in the proportion of green credit issuance relative to industrial loans, the per capita GDP growth achieved through the chain-mediated path is approximately 30.17 yuan in the western region, approximately 6.6 times greater than that at the national level. Within a 95% confidence interval of 5000 bootstrap samples, this path is found to be true, and the chain-mediated effect accounts for approximately 12.96% of the total indirect effect. Limitations The limitation of this paper is the measurement of green credit. Although green credit has a large volume, it remains underdeveloped, and there is a lack of perfect indicators. Most existing studies have adopted only alternative or reverse indicators to measure the issuance of green credit. For example, this paper takes the interest expenditure of six high-energy-consuming enterprises as the reverse indicator, which may to a certain extent lead to the overestimation of the issuance of green credit and its impact on the environment and economy. Future research can accurately explore the performance of green credit on the basis of its mature development.

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Section: Methodsmentioning

confidence: 99%

The impact of green credit on economic growth—The mediating effect of environment on labor supply

et al. 2021

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“…Human capital is defined as the ability attached to the workforce, which can further generate economic value and increase productivity. However, 'ability' as an abstract concept is difficult to quantify concretely, so the measurement of human capital has evolved into various forms in both theoretical and empirical studies, such as the degree of education [24], entrepreneurship [25], individual and collective human capital [26]. Apart from these studies, there is another strand of literature that focuses on the role of occupational groups in economic development (e.g., [2,25,[27][28][29]), exploring a 'joint force' of innovative ability of different occupations to regional and urban development.…”

Section: Historical and Theoretical Backgroundmentioning

confidence: 99%

Understanding Contributions of the Creative Class to Sustainable Economic Growth in China

et al. 2020

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By investigating the direct effect of the ‘3T’s (the creative class; tolerance; technology) and their interactive effects on GDP per capita, based on the data collected from 279 cities over the period of 2002–2014, the aim of this study is to explore the practical value of the creative class theory to the sustainable economic development in China. Using econometric estimations; the results suggest that agglomeration of the creative class; improving tolerant milieu and increasing technology investment have positive explanatory powers in understanding the disparities in GDP per capita between different cities in China. However, the complementary effects on GDP per capita are only observed between the creative class and technology or technology and tolerance, while there is an interference effect between the creative class and tolerance. These findings suggest that Florida’s advocacy for generating creative competitiveness across cities and regions by building up selected amenities may be arguable, but that the creative class is substantially contributing to regional economic growth. However, the creative class may have a unique mix with other innovative elements in different contexts. Therefore, instead of extensively focusing on a ‘one-size-fits-all’ solution that praises ‘cultural consumption’, the present study suggests a ‘three-phrase theory’; which has quite generic and flexible policy focuses on different development stages.

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“…However, it is one that some governments and sub-national entities have begun, with pioneering methodologies. The U.K.'s Office of National Statistics released an experimental estimate of its human capital stock, including a detailed methodology for valuing the productive capacity of citizens (Jones and Chiripanhura, 2010). The United Nations' System of Integrated Environmental and Economic Accounts (SEEA) (United Nations, 2014) has been revised to include a framework for valuing the market and non-market goods and services provided by natural capital.…”

Section: An Oregon Shareholder's Reportmentioning

confidence: 99%

Estimates of the Genuine Progress Indicator (GPI) for Oregon from 1960–2010 and recommendations for a comprehensive shareholder's report

Kubiszewski

Costanza

Gorko

et al. 2015

Ecological Economics

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Measuring the UK's human capital stock

Cited by 11 publications

References 47 publications

The impact of green credit on economic growth—The mediating effect of environment on labor supply

The impact of green credit on economic growth—The mediating effect of environment on labor supply

Understanding Contributions of the Creative Class to Sustainable Economic Growth in China

Estimates of the Genuine Progress Indicator (GPI) for Oregon from 1960–2010 and recommendations for a comprehensive shareholder's report

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