Lekfuangfu, N; (2015) Human capital investment: an empirical analysis of incentives and returns. Doctoral thesis , UCL (University College London).

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Abstract

This thesis focuses on three dimensions of human capital formation: investment during childhood, the role of incentives on household's investment decision and the returns to the investment. Chapter 2 examines the infuence of family and school environments during different childhood periods on skill formation in adulthood. It explores a large set of childhood characteristics using a British cohort, and identifies which factors during childhood may have a legacy on cognitive and non-cognitive human capital much later in life. The data in Chapters 3 and 4 are drawn from developing countries. Chapter 3 identifies family size as a potential driver of children human capital accumulation. It then investigates if there is a trade-off between the number of younger siblings and children's outcomes as well as intra-household behavioural responses, namely household expenditure and parental labour supply. Chapter 4 considers a specific factor, life expectancy, and examines the direction in which an exogenous change in mortality risk infuences parental investments and hence schooling outcomes. Finally, Chapter 5 offers a new perspective on returns to education. Using a longitudinal household surveys from Australia, the chapter estimates the direct and indirect effects of education on life satisfaction by exploring different pathways, including income, health and family life, in which more schooling can positively raise well-being.

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