The Impact of Human Capital Development on Economic Growth in Nigeria: ARDL Approach
Journal Title: IOSR Journal of Humanities and Social Science - Year 2019, Vol 24, Issue 1
Abstract
This paper examined the impact of human capital development on economic growth in Nigeria using time series data spanning from 1980 to 2013 which were sourced from the World Bank Indicator and National Bureau of Statistics. It was set out to explore the relationship between human capital indices (education and health) and economic growth. The study employed ARDL Co-integration analysis to estimate the relationship among the variables used in the study. The study established long-run co-integration among the variables. The findings from the study revealed that there is positive long-run relationship among secondary school enrolment, public expenditure on education, life expectancy rate, gross capital formation and economic growth but it is statistically insignificant. The results also showed that there is negative long-run relationship among primary, tertiary school enrolment, public expenditure on health and economic growth. In line with the findings, the study recommended that government should put in place the required education and training policy that would guarantee quality schooling for primary and tertiary education. Government should also commit more funds to health sector to enhance human capital development.
Authors and Affiliations
P. A. Adeyemi, A. J. Ogunsola
Keywords
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- EP ID EP442124
- DOI 10.9790/0837-2401063441.
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