IMPACT OF HUMAN CAPITAL DEVELOPMENT ON ECONOMIC GROWTH IN NIGERIA (1980 2012)

Oyerinola, David Sunday (), Abayomi, Muftau Adesina () and Alabi, Salihu Otubu ()
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Oyerinola, David Sunday: Department of Economics, Faculty of Social Sciences, Postal: University of Ilorin, Ilorin, Nigeria,, https://fssunilorinedu.org/ijbss/index.php
Abayomi, Muftau Adesina: Department of Economics, School of Management Technology, Postal: Federal University of Technology,Akure, Ondo State, Nigeria,, https://fssunilorinedu.org/ijbss/index.php
Alabi, Salihu Otubu: Department of Economics, School of Junior Secondary Education, Postal: Kwara State College of Education, Ilorin.,, https://fssunilorinedu.org/ijbss/index.php

Ilorin Journal of Business and Social Sciences, 2017, vol. 19, issue 1, 122-133

Abstract: This paper examines empirically the impact of human capital development on economic growth in Nigeria using data for the period of 1980 - 2012. The paper made use of the augmented Solow human-capital-growth model. The stationarity status of the variables of interest was ascertained. The ARDLBounds Test result showed that the variables have long-run relationship; the short-run and long run versions of the model for the study were estimated. The results of the estimated models indicate that human capital development has a significant positive impact on economic growth. It is therefore recommended that federal government should increase their revenue allocation to the educational sector such that improved educational infrastructure and skilled manpower can be made available to help revamp the Nigerian economy.

Keywords: Economic Growth; Human Capital; Education; Development; ARDL. (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ilojbs:0022

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