The World Bank’s new Human Capital Index makes great strides in measuring human capital by explicitly including learning, not just schooling.
Here at RISE we were excited for the launch of the World Bank's human capital index (HCI), which directly incorporates student learning into its measure of the contribution of health and education to productivity. The index combines five indicators: child survival, school enrolment, quality of learning, healthy growth, and adult survival, into a measure of human capital a child born today could expect to attain by age 18 (per country).
In a recent piece, Jim Kim explained that the World Bank’s new Human Capital Index (HCI) will “encourage countries to invest in human capital with a fierce sense of urgency.” Indeed, a key objective of the HCI is to spur more investments in education and health.
The World Bank’s new Human Capital Index (HCI), launched at the Annual Meetings last week, explicitly recognizes that schooling that produces learning is needed to build human capital.