Projects on Competencies in the OECD Context - Analysis - DeSeCo

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Definition and Selection of Competencies• The role of a range of life experiences in developing human capital;• The wide range of individual characteristics that contribute to humancapital;• The related concept of social capital; and• The extent to which non-economic sectors (e.g., social cohesion,health) contribute to the economic sector both at the individual andsociety-wide levels.The conceptualization proposed in Human Capital Investment challengesanalysts and policymakers to address issues that have traditionallyfallen outside of the domain of human capital. Whereas previousanalyses have focused on topics associated with classical economictheory, such as investment in and rates of return to formal educationand training, the report highlights other aspects of human capital. Thefirst is the notion that attributes of individuals extend beyond academicknowledge, encompassing both cross-curricular skills and attitudes. Secondis the idea that human capital is acquired by individuals not onlybefore they enter the workforce but throughout their lives. Third, humancapital is not acquired exclusively through the formal initial educationand training systems, but in a range of environments includingwork, work-based training, working life, and informal experiences.Lastly, human capital is relevant for individuals and society in non-economicarenas as well as in economic ones.It is important to note that representatives of different intellectualand policy areas participated in the discussions leading up to the report,and covered each of the related issues. By the time the final definitionwas agreed upon, they had gained a clearer understanding ofeach other’s perspectives and of the trade-offs inherent in the finaldefinition.At the same time that the report confirms a broad view of humancapital, many related questions are beyond its scope. Of key interest tothe DeSeCo project is the issue of what are the knowledge, skills, competencies,and attributes that constitute human capital. While affirmingthat human capital is important for individual and aggregate economicproductivity and further, that traditional curricular subject areasare inadequate to delineate characteristics that constitute human capi-34 ESSI OECD SFSO
Definition and Selection of Competenciestal, the project leaves the topic of specifying the knowledge, skills, competencies,and attributes of human capital to future investigators. Thereport also recognizes that further conceptual and theoretical developmentis necessary to take into account the interrelationships amonghuman capital, the economy, and non-economic sectors such as health,and the impact of human capital investments on non-economic sectors.Empirical ConsiderationsHuman Capital Investment takes a strong stand that most existingmeasures of human capital do not capture its full meaning. For example,traditional indicators based on the formal education system (enrollment,attainment, and costs) do not directly measure the capabilitiesof individuals. Nor do they reflect experiences in the range of environmentsoutside of the formal education systems that contribute toaccumulation of human capital in individuals. Indicators based on investmentsand wage differentials are even more indirect, and are basedon larger assumptions.The report recommends that priority be given to developing directmeasures of a range of individual attributes, with a viewpoint thatthese attributes are developed through institutions and experiencesbeyond primary, secondary, and tertiary education. In light of the factthat previous empirical investigations of human capital theory have reliedon more indirect measures with little recognition of their limitations,this understanding represents a new outlook in the empiricalanalyses of human capital.In spite of the recognized limitations of existing measures, the reportdevotes the majority of its attention to presenting indicators based onthem. Work is continuing in the Centre for Educational Research andInnovation at OECD on analysis of the relationship between humancapital and economic growth and social cohesion. Within this continuingwork, there is a focus on better conceptualisation of human capitalin relation to other forms of capital such as social capital as well as onevidence for broad social and macro-economic returns to investment inskills and knowledge.SFSO OECD ESSI 35
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Projects on Competencies in the OECD Context - Analysis - DeSeCo

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