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World Bank Human Capital Index

In October 2018, the World Bank published the Human Capital Index (HCI) as a measurement of economic success. The Index ranks countries according to how much is invested in education and health care for young people. The World Bank's 2019 World Development Report on The Changing Nature of Work showcases the Index and explains its importance given the impact of technology on labor markets and the future of work. One of the central innovations of the World Bank Human Capital Index was the inclusion and harmonization of learning data across 164 countries. This introduced a measure of human capital which directly accounts for the knowledge and skills acquired from schooling, rather than using schooling alone, now widely recognized to be an incomplete proxy. The learning outcomes data, methodology, and applications to the human capital literature underlying this effort were published in Nature.