Theodore R. Breton has developed data on annual national investment rates (% of GDP) for public and private schooling and for the financial stocks of human capital related to these rates for 61 countries that were market economies during 1950-2010.
Annual investment rates: the investment rate data are available for each five-year period during 1950-2005. They are based on total expenditures for public and private schooling in primary, secondary, and tertiary institutions. The public expenditures are taken or are estimated from Unesco data. The private expenditures are estimated from various sources. These rates, measured as a % of GDP, are based on unadjusted National Accounts data. Please cite the data and the documentation for these data to:
Breton, Theodore R., 2010, “Schooling and National Income: How Large Are the Externalities?” Education Economics, v18, n1, 67-92
Capital stocks / adult: the capital stock data are available for each five-year period during 1990-2010 in versions that correspond to Penn World Table (PWT) 6.3, 7.1, and 8.0.
They are financial stocks net of depreciation. The estimates differ because they were created by applying the annual investment rates (% of GDP) cited above to the different estimates of GDP (adjusted for purchasing power) in each PWT version. They include estimates of the opportunity cost of the capital invested in schooling while students were in school and are net of an annual depreciation rate of 2.5%. Please cite the stock data and the documentation for these data to: