THE IMPACT OF HUMAN CAPITAL ON ECONOMIC GROWTH IN NIGERIA (1981-2016)
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
Abstract
The study examined the impact of human capital and physical capital on economic growth in Nigeria between 1981 and 2016. In specific terms, the study investigated the extent to which government expenditure on education and health and gross capital formation influenced economic growth in Nigeria. Human capital is instrumental in tackling poverty and unemployment, promotes economic growth, and equips the labour force with modern skills and competencies. Contemporary discussions on human capital and economic growth are dominated by three theories namely human capital theory, modernization theory and dependence theory.
The theoretical underpinning of the study is predicated on the augmented Solow growth model. The Solow growth model posits that national output (Y) is driven by technical progress (A), physical capital (K) and human capital (HL). Based on this, economic growth represented by real GDP was expressed as a function of gross capital formation (proxy as physical capital) and government expenditure on education and health were proxy as human capital. The ADF test revealed that all the variables except real GDP are stationary at level while real GDP is stationary at first difference. It was found that there is long-run relationship between economic growth, human capital and physical capital in Nigeria. Furthermore, the coefficient of ECM indicates that speed of adjustment from short-run to long-run equilibrium is 2% per annum. Government expenditure on education had a significant negative impact on economic growth in Nigeria. Government expenditure on health had an insignificant positive impact on economic growth in Nigeria while gross capital formation exerted non-robust positive effect on economic growth in Nigeria.
The study concluded that human capital and physical capital did not significantly improve the level of economic growth in Nigeria between 1981 and 2016 mainly because successive governments within these periods paid little or no attention to human capital development. The study suggested that; Efforts should be geared towards improving the standard of education in Nigeria. Substantial amount of government budgetary allocation should be directed to the educational sector; There should be establishments of special agencies with the responsibility of improving the skills and capabilities of human capital; An enabling environment of macroeconomic stability should be provided by the government to encourage investment in human capital by the private sector and government.
Related Project Materials
THE IMPACT OF TRAINING AND DEVELOPMENT ON STAFF EFFICIENCY IN THE BANKING SECTOR OF NIGERIA
ABSTRACT
This study examines the impact of Training and development on effective performance of workers in the Nigeria B...
THE IMPACT OF TELEVISION ON THE LEARNING HABITS OF PRIMARY SCHOOL CHILDREN
ABSTRACT
Television has been an instrument of learning. Its roles cannot be underestimated for children, who are...
EFFECTS OF COVID-19 ON PRODUCT SALES AND MARKETING
ABSTRACT
This study titled the effect of covid-19 on product sales and marketing aims to find out the i...
THE INFLUENCE OF TUBERCULOSIS ON ACADEMIC PERFORMANCE OF PRIMARY SCHOOL PUPILS IN ABA NORTH ABIA STATE
ABSTRACT
This study was carried out to evaluate the influence of tuberculosis on academic performa...
PHENOTYPIC AND GENOTYPIC VARIABILITY STUDIES ON SOME RICE GENOTYPES IN LOW LAND ECOLOGY OF NIGERSTATE, NIGERIA
ABSTRACT
Variability has been known as a tool for any crop improvement programme. Yield improvement can be ascertained if there is enough...
DESIGN AND IMPLEMENTATION OF AN ONLINE ELECTRICITY PAYMENT AND METERING SYSTEM WITH PAYMENT INTEGRATION, EMAILING AND SMS. (A CASE STUDY OF HARCOURT ELECTRICITY DISTRIBUTION COMPANY)
ABSTRACT
The Nigerian power sector is confronted with inadequate, poor, un-organized electricity billing and consume...
THE INFLUENCE OF SOCIAL NETWORKING SITES ON THE ACADEMIC PERFORMANCE OF SECONDARY SCHOOL STUDENTS
Background of the Study
Addiction to the usage of social network has greatly increased in contemp...
ASSESSING THE HEALTH IMPACT OF WATER TREATMENT TECHNOLOGIES USED BY SACHET WATER FACTORIES IN NASURU TOWN, NINGI LOCAL GOVERNMENT AREA OF BAUCHI STATE
ABSTRACT
This study was carried out on assessing the health impact of water treatment technologies used...
ROLE OF YOUTHS IN NATIONAL DEVELOPMENT
EXCERPT FROM THE STUDY
Apart from realizing that they are valued citizens of their countries, when youths engage in more...
ASSESSMENT OF THERAPEUTIC RECREATIONAL SPACES IN ORTHOPAEDIC HOSPITALS IN MINNA, NIGER STATE
ABSTRACT
There is a growing interest about the impact of the physical environment on the recovery process of patients among health care p...
