Nigeria’s Human Development Indices and on Economic Development: a Probability Distribution Approach
Journal Title: Journal of Empirical Economics - Year 2013, Vol 1, Issue 4
Abstract
This work investigated the implications of HDI data (2005 – 2013) on economic development in Nigeria using a probability distribution approach. Three probability distributions, namely, Generalized Extreme Value (GEV) Distribution, Error Distribution and Uniform (Continuous) Distribution were fitted to the data and it was found out that GEV fitted the data most. The chances of Nigeria still remaining as a low human development country was found to be very high (85%) despite increase in economic growth. Therefore, government in Nigeria was advised to re-evaluate the current economic development plans and strategies to enable it turn economic growth into economic development.
Authors and Affiliations
K. Godslove Egbulonu, Charles N. Eke
Keywords
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