Abstract
In this paper, I discuss a research agenda on the study of human capital accumulation in the early years, with a particular focus on developing countries. I discuss several methodological issues, from the use of structural models, to the importance of measurement and the development of new measurement tools. I present a conceptual framework that can be used to frame the study of human capital accumulation and view the current challenges and gaps in knowledge within such an organizing structure. I provide an example of the use of such a framework to interpret the evidence on the impacts of an early years intervention based on randomized controlled trial.
Highlights
A considerable amount of attention has been devoted to human capital accumulation
Journal of the European Economic Association published by John Wiley & Sons Ltd on behalf of European Economic Association Journal of the European Economic Association the relationship between human capital and GDP growth and have proposed models with human capital externalities
In Attanasio and Cattan (2015), we use the idea that an intervention, by providing information to parents, might be changing individual perceptions of the production function. If such an intervention is randomly allocated to different groups of individuals one can assume that “treated” parents have acquired knowledge of the actual production function and one can use data on child development and parental investment from this group to identify the taste and technology parameters
Summary
A considerable amount of attention has been devoted to human capital accumulation. Given the stress to which they are subject, they might like the ability of formulating and executing long-term plans that include constant investment of time (stimulation) and resources for their children In addition to these “efficiency” arguments that can justify policy interventions in human capital, an important justification for interventions targeted to early years is a redistributive one: given the size of the returns of these interventions and their very dynamic nature, they might be extremely effective in reducing inequalities and in fostering “equality of opportunities”. The fact that early years interventions can be effective and the fact that large gaps in development (which are later associated with large differences in earnings, health, and other welfare indicators) emerge very early make these interventions potentially very important These are policies that have the potential of greatly increasing the efficiency of an economy whilst at the same time reducing the level of inequality and disparities both in economic and other domains.
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