|
|
| |
| A Recursive Review Of Human Capital Development And Nigeria's Economic Growth From 1980 To 2012
Download PDF
|
Uguta, Lawrence Ebiwari (M.Sc.), Dr. Darius, Blessing, Dr. Awu, Ebiasuode, Dr. Amanawa, David Ebiegberi
|
Abstract:
This study examines the link between human capital formation and economic development in Nigeria, utilizing secondary data from 1980 to 2012. Co-integration and the Error Correction Mechanism (ECM) were used to investigate the link between human capital building and economic development in Nigeria. The Granger causality test was also used as an additional estimate technique to examine the causal relationship between the variables included in the model. The study revealed that expenditure on education, health, and secondary school enrolment positively affects the economy's growth. In contrast, primary and tertiary school enrolment maintained a negative long-run relationship with the index of economic development in Nigeria. This reveals that the impact of investment in human capital on economic growth during this period is marginal. The fallen standard of education due to brain drain, poor working conditions for educational workers at all levels, poor learning environment, poverty, and low level of health care in the country may have accounted for this result. Consequently, it was recommended, among others, that the government continue providing an environment that will encourage increased investment in human capital by both the public and the private sector. Also, a stock of physical capital needs to be acquired to facilitate more investment in human capital and thereby enhance industrial productivity in Nigeria.
|
|
|
| | |