ABSTRACT
This study
evaluated the influence of human capital development on economic growth in
Nigeria. The study covers the period of 1981 to 2019. The study seeks to:
examine the influence of education expenditure on economic growth in Nigeria;
investigate the effect of school enrolments on economic growth in Nigeria;
investigate the existence of long-run relationship between labour force and
economic growth in Nigeria; determine the nature of the causal relationship
between health expenditure and economic growth in Nigeria; and to determine the
nature of the causal relationship between life expectancy at birth and economic
growth in Nigeria. The study utilized the Ordinary Least Square technique and
made use of cointegration and Granger Causality test to analyse the specific
objectives. The variables include gross domestic product (a proxy for economic
growth), government expenditure on health, government expenditure on education,
life expectancy at birth, school enrolments, and labour force. The study found
out that expenditure on education has a negative influence on gross domestic
product. It has been also discovered that there exists a long run relationship
between human capital development and economic growth. The Granger Causality
test also reveals there is a causality between health expenditure and economic
growth as well as between life expectancy at birth and economic growth.
Meanwhile, no causality exists between primary school enrolment and economic
growth. Since the expenditure on education exerted a negative influence on
economic growth, the policy implication is expenditure on education have not
been sufficient to trigger growth. Based on the findings, the study recommended
among other things that the planned strategies of the government in the
education and health sectors as enunciated in the National Economic Empowerment
and Development Strategy document should be fully carried out with reports
provided of progress made at each stage. The government should increase not
just the amount of expenditure made on the education and health sectors, but
also the percentage of its total expenditure accorded to these sectors. The
study recommended that the ten percent benchmark proffered by the present
National Plan should be adopted.
DAVID, O (2023). Human Capital Development And Economic Growth In Nigeria . Repository.mouau.edu.ng: Retrieved Oct 12, 2024, from https://repository.mouau.edu.ng/work/view/human-capital-development-and-economic-growth-in-nigeria-7-2
OKON, DAVID. "Human Capital Development And Economic Growth In Nigeria " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 15 May. 2023, https://repository.mouau.edu.ng/work/view/human-capital-development-and-economic-growth-in-nigeria-7-2. Accessed 12 Oct. 2024.
OKON, DAVID. "Human Capital Development And Economic Growth In Nigeria ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 15 May. 2023. Web. 12 Oct. 2024. < https://repository.mouau.edu.ng/work/view/human-capital-development-and-economic-growth-in-nigeria-7-2 >.
OKON, DAVID. "Human Capital Development And Economic Growth In Nigeria " Repository.mouau.edu.ng (2023). Accessed 12 Oct. 2024. https://repository.mouau.edu.ng/work/view/human-capital-development-and-economic-growth-in-nigeria-7-2