Imandojemu, Kingsley et al., East African Scholars J Econ Bus Manag; Vol-3, Iss- 10 (Oct, 2020): 795-805, 2020
This study investigated the relationship between human capital development
and economic growth in... more This study investigated the relationship between human capital development
and economic growth in Nigeria within the period 1990 to 2018. Annual time series data
collected from the World Development Indicators (WDI), Central Bank of Nigeria
Bulletin and the National Bureau of Statistics were used. Gross domestic product (GDP)
was used as proxy for economic growth. The exogenous variables for human capital
development were Human Capital (HC), government expenditure on education (GXE),
government expenditure on health (GXH), life expectancy (LE), and fertility rate (FE).
The vector autoregressive (VAR), Augmented Dickey Fuller (ADF) and Philip Perron
(PP) test were employed. The results showed that FE had an inverse significant
relationship with GDP while HC, GXE, GXH, LE had a direct significant relationship
with GDP. A long run relation was established in the study. The paper recommended that
the Nigerian government should evolve practicable framework for improved investment
in key human capital development deliverables especially education and health which
remains germane to labour productivity and economic development.
Keywords: Human Capital Development, Poverty, Economic Growth, Inequality and
VAR.
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and economic growth in Nigeria within the period 1990 to 2018. Annual time series data
collected from the World Development Indicators (WDI), Central Bank of Nigeria
Bulletin and the National Bureau of Statistics were used. Gross domestic product (GDP)
was used as proxy for economic growth. The exogenous variables for human capital
development were Human Capital (HC), government expenditure on education (GXE),
government expenditure on health (GXH), life expectancy (LE), and fertility rate (FE).
The vector autoregressive (VAR), Augmented Dickey Fuller (ADF) and Philip Perron
(PP) test were employed. The results showed that FE had an inverse significant
relationship with GDP while HC, GXE, GXH, LE had a direct significant relationship
with GDP. A long run relation was established in the study. The paper recommended that
the Nigerian government should evolve practicable framework for improved investment
in key human capital development deliverables especially education and health which
remains germane to labour productivity and economic development.
Keywords: Human Capital Development, Poverty, Economic Growth, Inequality and
VAR.
and economic growth in Nigeria within the period 1990 to 2018. Annual time series data
collected from the World Development Indicators (WDI), Central Bank of Nigeria
Bulletin and the National Bureau of Statistics were used. Gross domestic product (GDP)
was used as proxy for economic growth. The exogenous variables for human capital
development were Human Capital (HC), government expenditure on education (GXE),
government expenditure on health (GXH), life expectancy (LE), and fertility rate (FE).
The vector autoregressive (VAR), Augmented Dickey Fuller (ADF) and Philip Perron
(PP) test were employed. The results showed that FE had an inverse significant
relationship with GDP while HC, GXE, GXH, LE had a direct significant relationship
with GDP. A long run relation was established in the study. The paper recommended that
the Nigerian government should evolve practicable framework for improved investment
in key human capital development deliverables especially education and health which
remains germane to labour productivity and economic development.
Keywords: Human Capital Development, Poverty, Economic Growth, Inequality and
VAR.