Human Capital Policy: Building a Competitive Workforce for 21st Century Thailand

Ashvin Ahuja, Thitima Chucherd and Kobsak Pootrakool
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Ashvin Ahuja: Bank of Thailand
Thitima Chucherd: Bank of Thailand
Kobsak Pootrakool: Bank of Thailand

No 2006-04, Working Papers from Monetary Policy Group, Bank of Thailand

Abstract: This paper identifies policy challenges to the skill formation process in Thailand. Specifically, we examine whether the foundation of current policies help foster skill acquisition and prepare our labor force well for heightened competition in the 21st century. Human capital is a major source of competitiveness and growth. Better educated and more able citizens contribute to civic affairs, crime reduction, and intergenerational transfers of skills. We view skill formation as a life-long process and consider 3 major sources of learning: formal schooling, labor market and families. We also draw on a wealth of literature and suggest a comprehensive life-cycle framework for public policies to foster human capital accumulation. Based on the choice of students, parents, trainees and firms, this framework aims to get the incentives right through increased interaction between the labor market, formal education institutions and families.

Pages: 59 pages
Date: 2006-04
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Citations: View citations in EconPapers (1)

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