Human Capital and Economic Growth

Abstract

Education is invaluable. In addition to helping shape individuals it also has economic and societal benefits, enhancing productivity in industries, for example. However, such long-term impacts don't manifest immediately and, therefore, the effects of home and school education cannot be quantified until a child becomes an adult and enters the workforce. This is why researchers are seeking to empirically investigate the true impact of education. Professor Kazuo Nishimura, Research Institute for Economics and Business Administration, Kobe University, Japan, is working with Professor Tadashi Yagi and other collaborators to determine the relationship between what children are taught and how this influences knowledge and skills in adult life. He is seeking to unearth new discoveries related to the normative attitudes that are generated through family education and how these can affect human capital; specifically, the knowledge, skills and abilities that workers acquire as capital. Nishimura's research involves conducting surveys on family education, the results of which are widely applicable, encompassing parenting at home, human resource development in businesses, student teaching in schools, and the attitudes of children. In a study on parenting methods in relation to norm awareness, social issues and the perspectives of family in adulthood, Nishimura found that: qualities such as honesty can enhance an individual's interests, parenting that encourages independence leads to greater future success for children and self-determination has a bigger impact on wellbeing than income. These findings will enable Nishimura and his collaborators to develop evidence-based recommendations.