Human capital development and economic growth in nigeria. In the past decades, much of the planning in nigeria was centered on the accumulation of physical capital for rapid growth and development, without due recognition of the important role of human capital in the development process. This study examines the relationship between human capital development efforts of the government and economic growth in nigeria. Agricultural production and economic growth in nigeria. The paper investigates the relative impact of human capital development on economic rejuvenation and growth in nigeria form 1981 to 2010, using the bounds testing approach to cointegration. This study employs the ordinary least square regression analysis to examine the impact of human capital development on economic growth of nigeria, using annual time series date from 1981 to 2015. Nigeria biannual economic update investing in human. This paper examines the impact of human capital formation on the economic growth of nigeria from 19752008. Thus, the present study examines the impact of human capital development on economic growth in nigeria. These working children are both a cause and a consequence of a lack of economic growth.
Sankay, ismail and shaari 2010 investigated the impact of human capital development on economic growth in nigeria during the period 1970 to 2008. The research analyses the role of human capital development on nigeria economic growth, the policies government has developed so far to improve human capital in nigeria, the reason why some failed and how all this play roles in driving the economic growth of the country. The importance of human capital formation concept on economic growth cannot be over emphasized and have been the fulcrum of aid and assistance by international agencies and developed countries. Nigeria s weak revenue mobilization has major implications for growth and development, including for improving its dire social service delivery outcomes. Specifically, firms must invest necessary resources in developing human capital which tend to have a great impact on performance. Block and timmer 1994 added a short list of nonmarket based. This paper examined the impact of human capital development on economic growth in nigeria using time series data spanning from 1980 to 20 which were. The impact of domestic investment on economic growth. The specific objectives are to examine if human capital development has an impact on economic growth in nigeria, investigate the effect of educational development on human capital development with respect to nigeria s economic growth and examine the effect of health.
In order to achieve this, data were sourced from the cbn statistical bulletin and federal ministry of education publication during 1970 2011. The ordinary least square multiple regression was used to estimate the necessary models. The paper builds upon and extends the analysis presented in the two previous cedefop reports edited by tessaring 1998 and descy and tessaring 2001. Isola and alani 2012 evaluated the contribution of different measures of human capital development to economic growth in nigeria. The effect of human capital development on economic growth. Infrastructural development and economic growth in nigeria. This study examines the impact of human capital development on poverty reduction in nigerian economy from the period 1986 to 2012. This paper examines specifically the impact of human capital development on longrun economic growth in nigeria, using time serial data for 27 year period. Accumulation accumulation of human capital is perhaps the most important determinant of productivity in nigeria. They used disaggregated analysis in an attempt to unravel the impact of government expenditure on economic growth. Section 3 turns to the central issue of how to promote economic growth in africa and the role of human capital in that process. The impact of human capital development on economic growth in. Thus human capital development is one of the fundamental solutions to enter the international arena. The three pillars of sustainable development cannot be achieved if human.
Fdi in nigeria contributes positively to economic growth. Human capital, economic growth and welfare are closely interrelated. In particular, it explores the contribution of health and. This paper examined the impact of human capital development on economic growth in nigeria using time series data spanning from 1980 to 20 which were sourced from the world bank indicator and national bureau of statistics. This study in line with has tried to evaluate infrastructural development and economic growth of nigeria, using simultaneous analysis. Abu hassan shaari abstract there can be no significant economic growth in any country without adequate human capital development. Economic growth in nigeria has largely been accounted for by. To identify the relationship between human capital development and poverty reduction in nigeria discuss how human resource development through education can be made. Time series data were collected from secondary source from 19992015. More specifically, each of the various components of human development is likely to have a distinct impact on economic growth. The ordinary least square was adopted and finding reveals that human capital development and economic growth in nigeria is insignificant. However, the study introduces a new perspective on the role of corruption in economic growth and provides quantitative estimates of the impact of corruption on the economic growth in nigeria as well as their causal relationship. Impact of human capital development on economic growth of. Munich personal repec archive the impact of domestic investment on economic growth.
Pdf human capital development and economic growth in nigeria. The impact of human capital formation on economic growth. It seeks to find out the impact of government recurrent and capital expenditures on education and health in nigeria and their effect on economic growth. The impact of human capital on economic growth sciencedirect. Wilson, geoff briscoe empirical analysis of human capital development and economic growth in european regions hiro izushi, robert huggins nonmaterial benefits of education, training and skills at a macro level andy green, john preston, lars erik malmberg. The main objective is to examine the impact of human capital development on economic growth in nigeria.
Human capital development is also a means since it enhances the skills, knowledge productivity and inventiveness of people through a process of human capital formation broadly conceived. A major challenge facing the global community and nigeria at large is how to achieve sustainable development. Their results reveal that government total capital expenditure, total. The impact of human resource development on economic. B 114, abuja abstract the paper examines the impact of human capital development on economic growth in nigeria using data for the period 19802012. This study evaluates the relevance of human capital development on the growth of the economy pin pointing the relationship that exists between them. This study examined and analyzed the impact of human capital development on economic growth in nigeria, using time series data of 32 years spanning 1980 to 2012, data utilized for the study were extracted from secondary sources i. The impact of human capital development on economic growth.
Climate change, human development and economic growth. There can be no significant economic growth in any country without adequate human capital development. Thus, the country needs to take concrete steps to break its oil dependency to improve its economic and social outcomes. And no such study has been undertaken in zambia so far.
In order to justify further the critical importance given to the development of human capital in nigeria, the main objective of this study is to test and find out the impact of human capital development on the economic growth of nigeria. This implies that human capital development is indispensable in the achievement of sustainable economic growth in nigeria, as there is an increase in economic performance for every increase in human capital development. It used data from nigeria and adopted the growth account model which specifies the growth of gdp as a function of labour and capital. Economic growth and child labor in low income economies 264 million children work in the world today.
Human capital is an integral part of any countrys development and economic growth has human capital as an important factor. Impact of human capital development on poverty reduction. Impact of human capital development on economic growth. Human capital formation involves investment in education, training, health and other social services that will enhance the productive capacity of labour. Pdf this study employs the ordinary least square regression analysis to examine the impact of human capital development on economic. Section 2 provides an assessment of africas human development in the context of other developing regions. Government expenditure on human capital development. The data used for the study are from secondary sources while the augmented solow model was also adopted. The impact of human capital development and economic growth in recent times emphasized the growth theory romer, 1986. Although the overall effect of fdi on economic growth may not be significant, the components of fdi do have a positive impact.
This notwithstanding, the impact on economic growth in nigeria has been a. Another point worthy of note is that while education and health are both important constituents of human capital, most of the studies have restricted human capital only to. This paper examines the link between capital market development and economic growth in nigeria. This study was therefore carried out with the view to testing the effect of human capital development on economic growth in nigeria. Human capital development, economic rejuvenation and. The study utilized a combined proxy of education and health to capture the influence of human capital on growing and consequently rejuvenating an economy. However, this study shall look at both the impact of human capital and health on economic growth in nigeria.
It was set out to explore the relationship between human capital indices education and health and economic growth. The study examined the contribution of different measures of human capital development to economic growth in nigeria. The impact of human capital development on economic growth of nigeria. The result indicated that human capital development has a significant impact on nigerias economic growth. Furthermore, evidence from developed countries suggests that human capital has been the major driver of their development process.
Bundell and others 1999 analyzing the impact of human capital on economic growth believe that the growth rate of output depends on the rate of accumulation of human capital and innovation, whose source is the stock of human capital, education level influence labor productivity. Using the income measurement approach, the study examined the nexus and causality between human capital development and economic growth in the long run economic growth in nigeria. The objective of this study is to empirically determine the relationship between human capital development and industrial growth in nigeria between 1976 and 2016. Fixed formation capital and economic growth in the model. Economic growth and child labor in low income economies. The ordinary least squares ols, augmented dickeyfuller and johansen cointegration methods were used to estimate the model of one dependent variable poverty rate and four explanatory variables primary school enrolment, secondary school enrolment, tertiary. Observably, several factors like trade policy regime, quality of human resources, level of domestic. The hypothesis to be tested in the course of this study stated in the null form is. The provision and development of infrastructures have been the subject of much theoretical analysis and empirical studies. Human capital development is therefore a prerequisite for economic growth and development, as well as a necessary and sufficient condition for poverty reduction in. Human capital formation and economic growth in nigeria eric. Openness to trade and available human capital, however, are not fdi inducing.
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