Time Series Analysis of Human Capital Development and Economic Performance; A Recent Evidence from Nigeria
Journal Title: International Journal of Multidisciplinary Research and Analysis - Year 2023, Vol 6, Issue 04
Abstract
Human capital development holds the key to the growth and development of any economy in the world as it drives the efficiency of other factors of production. This scenario is not the same when viewed in terms of Nigeria's growth trajectory. It is against this backdrop that the paper investigates the effect of human capital development on Nigeria's economic growth. Time series data were used and the data spanning from the period of 1986 – 2020. The variables employed in the study are GDP proxy for Economic growth, while GEE, GEH, and ALR as explanatory variables. ARDL bound testing Model was used to estimate the relationship between the variables and the result uncovered the GEE had a negative and insignificant impact on economic growth in Nigeria, while GEH and ALR had a positive and significant impact on economic progress within the study period and it was recommended that Government should promote practice-oriented training for students, particularly in technical disciplines and matching education system in line with market demand. The government should increase budgetary allocation to meet up with the United Nations' specifications of 26% for the edifice of successful human capacity development in Nigeria.
Authors and Affiliations
Chaku Shammah Emmanuel Ph. D. , Timnan Bindap Ndam, Azi Istifanus Madaki, Jeremiah Nshe Manomi, Ajang Janet Daniel , Diemsan Attah Ambrose
Keywords
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- EP ID EP715522
- DOI 10.47191/ijmra/v6-i5-02
- Views 79
- Downloads 0
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