| 초록 |
This paper estimates the stock of agricultural household's Human Capital (HC) in Korea using an income-based approach. We adopts the method of Mulligan and Sala-i-Martin's LHK (1995), which reflects the qualitative aspects of agricultural labor force. For an empirical model analyzing the qualitative labor, a numeraire is needed to be set, and that is so-called 'agricultural household qualitative characteristic value (β0)' introduced in the Mincer's wage regression (1974). The empirical model employs agricultural household net income as a dependent variable, and family schooling years, their own production factors (capital, labor, land) and nonfarm income as independent variables. The estimation uses Farm Household Economic Survey Data for 2008 in Korea. Estimation results reveal that the HC stock of total farm household is estimated to be 35.1 trillion won : 7.5 trillion won for rice farm households and 24.4 trillion won for non-rice farm households, respectively.
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